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Headhunters Hays sees “hottest” permanent recruitment market since 2007

·1-min read
A number of tech firms have been recruiting staff this year  (PA)
A number of tech firms have been recruiting staff this year (PA)

The permanent recruitment market is the “hottest” it has been in the UK since 2007, with salary rises of up to 20% in some in-demand sectors, the finance chief of headhunters giant Hays has said.

Paul Venables told the Evening Standard: “For most companies the sheer scale and speed of recovery post-pandemic has been much better than they could have expected.”

He added that many employers froze hiring or cut jobs during the Covid-19 crisis, and many are facing a “skills shortage in the white collar space”.

The comments came as Hays, which has 11000 employees globally, of which 2500 are in the UK, reported first quarter net fees up 41% on a like for like basis. Analysts had been expecting 36% growth.

Shares in the FTSE 250 company gained 3.91p to 166.21p.

Net fees in the UK and Ireland increased 45%, with the City office in London recording a 73% surge.

Venables added that firms are looking to fill numerous tech and marketing roles in the capital.

He also said that people Hays secures jobs for globally in some sectors have traditionally moved for a 10% pay rise, but that now it is getting more common to see candidates getting between a 10% and 20% increase in some industries, such as tech.

Alistair Cox, the firm’s chief executive, said: “Client and candidate confidence is high and there are clear signs of skill shortages and wage inflation, particularly at higher salary levels.”

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