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Gloucestershire Business News

Recruitment agency sees jobs bounce back

Recruitment agency Hays - with a branch in Cheltenham - has benefitted from the bounce-back in the jobs market.

It has resumed its shareholders' dividend after growth this year as profits for the year ended 30th June were up nearly £2 million on the figure for the previous year.

The international firm has placed more than a quarter of a million people in jobs as the economy recovered from the lockdowns.

Net fees fell by 8%, and operating profit was down 30%, but the agency reported a pre-tax profit of £88.1 million, compared with £86.3 million for 2020.

The firm has promised to hand out a £150 million one-off dividend as well as the standard dividend, making £170 million in all.

Alistair Cox, Chief Executive, said: "Despite all the challenges presented by the pandemic we remained focused on our purpose, helped around 280,000 talented people find their next job and provided expertise, guidance and training to millions of others.

"Across all our regions there are clear signs of skill shortages and wage inflation in certain industries, particularly Technology and Life Sciences.

"We start our new financial year with good momentum, driven by the hard work and dedication of our colleagues worldwide and our investments.

"Overall, the strength of the recovery has been dramatic. We now see a clear route back to, and then exceeding, pre-pandemic levels of profit, faster than we envisaged even six months ago."

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