Hays Says Recruitment Surge Due To Job Churn Not Job Creation

Speaking on Radio 4’s Today programme the Chief Executive of Hays, Alistair Cox, said that \”At the moment most of the demand for jobs is simply organisations replacing employees who\’ve left. So it\’s really about job churn at the moment. Candidates are confident enough to change jobs, but we\’re not seeing new jobs being created as such. That\’s very different to a year ago where, frankly, if people left an organisation, nine times out of 10 they would not be replaced.\”

Mr Cox was speaking on the programme following the disastrous announcement that Hays saw an 80% fall in annual profits, down to £29.7 million. Since the start of the economic crisis many recruitment agencies have seen profits slide significantly however many had reported an improvement recently.

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