InTRODUCTION Brexit means exit of UK from EU

Financial Reporting

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Section 1..........................................................................................................................................3
Academic writing.........................................................................................................................3
Reflective statement.....................................................................................................................4
Section 2..........................................................................................................................................5
Self-evaluation checklist..............................................................................................................5
Personal SWOT analysis.............................................................................................................6
Primary research methods............................................................................................................6
Evaluation of sources...................................................................................................................7
Personal development plan..........................................................................................................7
Conclusion.......................................................................................................................................9
References......................................................................................................................................10

INTRODUCTION
Brexit means exit of Britain from European Union. It is an important referendum result
which took place on 23rd June 2016 in which UK has been exit from EU. It has positive as well
as negative impacts on different operations of an organization. The current research study is
based on determining impact of Brexit on demand and supply of labours in UK economy.
Regarding this, it will analyse the background information using literature review (Bianchetti
and et.al, 2016). Along with this, it will also focus on positive impact of Brexit on employment.
Including this, research will comprise the negative impact of Brexit on demand and supply of
labour market of UK. In addition, research study will also discuss the reflective statement which
will play important role in conducting self-evaluation. Including this, plan for personal
development will also be including in the following paragraphs of the report.
SECTION 1
Academic writing
A referendum can be defined as a vote in which everyone who are in voting age can take
part in deciding that whether UK needs to leave European Union or no (The economic impact of
‘Brexit’, 2016). In which total voting was 30 million and 52% were in the favour of Brexit and
48% were in against. These activity has direct impact on UK economy and reduce the value of
pound. But on the other hand this decision will be effective for long term performance of the UK
economy. There were some organizations which have said that Brexit can increases the total
cost. Including this, cost of the government borrowing will also be high but share price of the
stock market will be covered in future (Brexit the economic implications, 2016). There are some
hard and soft mean of Brexit in which hard includes that UK refusing to compromise on issues
like the free movement of people. But on the other hand, soft means Brexit might follow a
similar path to Norway which is a member of the single market and has to accept the free
movement of people as a result (Pisani-Ferry and et.al, 2016).
Brexit has direct impact on immigration, trade manufacturing, exchange rate, inflation,
GDP, trade, Tariffs, labour force, wages, public finances and regulations, etc. Britain wanted to
retail full access to the single market which helps in making the free movement for the skilled
and experienced worker. But there are some specific policies for low skilled workers and all
those organization which does not prefer high skilled workers (Franklin, 2016). On the other
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hand, it also increase the attraction of highly skilled workers. Therefore, this movement has
direct impact on overall labour movement in UK economy but it is beneficial for all those
companies which require skilled and experienced employees (Dorling, 2016).
Therefore, it has direct impact on recruitment and selection policies for the organization.
Along with this, it also affect the labour force of those organization which are using the
international employees. It can increase the decrease the recruitment and selection of local and
global employees. Migration policy also have negative impact on overall performance and labour
market of UK. This exit can increase the overall freedom of the full time and part time workers
but on the other hand it can raise the total cost of the labour (Koutrakos, 2016). Therefore, Brexit
has direct and indirect impact on the overall performance and recruitment and selection of
employees. So, after Brexit organization needs to changes their process and policies of the
recruitment and selection.
Reflective statement
Gibbs model of self-reflection is one of the appropriate tool for analysing the personal
learnings, knowledge and skills. This model is also known as reflective cycle which comprises
different stages such as description, feelings, evaluation, analysis, and conclusion and action
plan. After implementing Gibbs model I have realised that Brexit has direct impact on different
HR aspects of organizations of UK (Dhingra, Ottaviano, Sampson and Van Reenen, 2016). I
have learned the new knowledge about the process of Brexit and reasons behind this referendum
result. After completing this research I have realized that what happened at the time of exit of
UK from EU. Along with this, I have also learned that Brexit has positive as well as negative
impact on UK labour market. I have learned that Britain was not agreed to the free movement of
the highly skilled labours. So, it can affect the project performance of every organization. As per
my learnings Brexit is not beneficial for the labour market for short run but on the other hand for
long term basis it will be beneficial for organizations of UK economy (Brugge and et.al, 2016).
Before this research I was thinking that Brexit will be a wrong decisions for the UK economy but
after conducting this investigation I feel that that it is a right decisions which will help in growth
and development of the UK economy.
Evaluation of the research has reflected that gaining knowledge about such an
economical move of EU and UK was one of the best experience (Angeli, Piano and Arroyo,
2016). Including this, I have got lots of new knowledge and skills about the exit process of UK
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