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Pin to quick picksHays Share News (HAS)

Share Price Information for Hays (HAS)

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Share Price: 103.70
Bid: 103.80
Ask: 104.00
Change: -0.80 (-0.77%)
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Open: 103.70
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UPDATE 2-Recruiter Hays delivers record quarter as 'war for talent' rages on

Thu, 13th Jan 2022 08:14

* Sees annual operating profit at about 200 mln stg

* Q2 net fees rise 32%

* Shares up 1.3%
(Recasts, adds Finance Director's comments, shares)

By Amna Karimi and Yadarisa Shabong

Jan 13 (Reuters) - Employers are having to offer more
flexible working and competitive pay packages or risk people
changing jobs as the war for talent rages on, global recruiter
Hays Plc said on Thursday, after a record quarter
driven by permanent hires.

London's biggest publicly listed recruiter, which operates
in 33 countries and focuses on white-collar jobs, joined peers
PageGroup and Robert Walters in forecasting
strong annual profits that would exceed market expectations.

"The drive for people to work predominantly from home over
the last couple of years has also weakened the cultural buy-in
from those employees to their company," Finance Director Paul
Venables told Reuters.

"And that's one of the reasons we'll see more people
starting to look to change jobs."

The COVID-19 pandemic has forced many people to work from
home, but as restrictions ease, some employers are bringing
staff back to offices in one form or another as they adopt
hybrid working models.

"It is too early to quantify how the Omicron variant will
impact our New Year 'return to work' trends, which as usual will
be a key driver of second-half performance," Chief Executive
Alistair Cox said in a statement.

With wage inflation and staff shortages due to international
travel restrictions, companies understand they have to offer
flexible working and very competitive packages, Venables added.

Hays' net fees surged 32% in the quarter ended Dec. 31,
compared with a 16% fall in the same period of the prior year.

The British company expects its operating profit to come in
at 200 million pounds ($274 million) for the year through June
30, 2022. Analysts on average had estimated profit of 184.6
million pounds, according to a company-compiled consensus.

At 1150 GMT, Hays' shares were up 1.3% at 153.8 pence.

($1 = 0.7287 pounds)
(Reporting by Amna Karimi and Yadarisa Shabong in Bengaluru
Editing by Sherry Jacob-Phillips and Mark Potter)

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