What does Theresa May's Brexit speech mean for HR?

So now we finally – well, sort of – know what Brexit means (SPOILER: it doesn’t mean Brexit).

Prime Minister Theresa May confirmed that we won’t be staying in the single market; nor the customs union, but we will try to negotiate an agreement; we will “get control . . . of people coming to Britain from Europe”; we won’t veer off a cliff-edge, which is “in no one’s interest”. The status of EU citizens in the UK and UK citizens in the EU remains unclear, as does the sum, if any, we will continue to pay to Brussels.