Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2023 04 14T063519Z 2 LYNXMPEJ3D05E RTROPTP 4 HAYS OUTLOOK - Business Express

Recruiter Hays boosted by record net fees, but cautious on outlook

Recruiter Hays boosted by record net fees, but cautious on outlook

(Reuters) -Global recruitment company Hays said employers had reduced the number of new temporary hires but extended existing contracts, helping it to post record net fees in the three months to March, despite a tough permanent job market.

Inflation and concern of recession have led many companies to cut jobs or freeze hiring, while shifting towards more flexible labour that for now has boosted fees for some recruitment companies.

In a trading statement on Friday, the London-based company, focused on white-collar roles, especially in the technology sector, predicted its operating profit and percentage of successful hires in the second half of the fiscal year ending June 30 would be “modestly above” the first half.

“Client and candidate activity remains solid overall in Temp and Contracting, with modestly lower numbers of new assignments broadly offset by greater contract extensions,” Hays said.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

In the third quarter ended March 31, like-for-like net fees rose 5% to record levels.

In its largest market, Germany, net fees grew by 23%, although extended pandemic lockdowns in China led to a 26% decline.

Fees from the temporary hiring segment, its largest business, grew by 11%, while the permanent division fell 2% as placement volumes declined.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu and Barbara Lewis)

Recent Post: