Recruiter set to lay out good UK job prospects

Global recruitment firm Hays will unveil its fullyear results on Thursday with the City expecting to hear more about the boom in employment opportunities in the past few months.

The Covid-19 pandemic hit the jobs market hard but as the recovery picks up pace, companies are looking to hire again and rising inflation is giving employees the chance to pick and choose their ideal roles.

In the UK, job vacancies have been soaring with fewer people looking for work and this is helping recruiters as businesses turn to their expertise to entice the best candidates.

Analysts are predicting Hays to unveil an operating profit of £89.8 million for the year, based on a consensus – down from £135m a year ago, with net fees expected to hit around £906.4m.

The falls are down to long periods of lockdowns and restrictions during the past 12 months but the City will be hoping to hear more about a positive future following a sharp rebound in the final quarter of the company’s financial year.

Bosses have previously flagged that permanent job hiring is up and companies are more positive on future recruiting.

Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “Performance at recruitment firms like Hays tends to follow the boom and bust of the wider economy.

“With the group reporting a 39% increase in net fees in the fourth quarter, it seems to be performing exactly as you might expect.

“The particularly strong growth in permanent employment placements bodes well for the strength of the recovery.”