The company’s profits from permanent fees fell 19% from Q1 FY25 during the latest quarter, while profits from temporary fees slid by a less pronounced 7%. 

A positive marker for Hays was increased consultant productivity of 4% year-on-year, which the company attributed to “operational rigour and resource allocation”. Consultant headcount reduced by 2% in the quarter, mainly in the UK, and by 15% year-on-year.

“Our initiatives to deliver structural savings of £30m per annum by the end of FY27 are progressing well and consequently, our current periodic cost base has improved to (about) £77m,” the company said in a summary message.

The company said: “We are delivering on our strategy to build a structurally more profitable and resilient business underpinned by our culture and talent colleagues worldwide. Through our Five Levers, we will achieve this by increasing our exposure to the most in-demand future job categories, growing industries and end-markets, higher skilled and higher paid roles, non-perm recruitment and large enterprise clients.

“Our strategy is not ‘one-size-fits-all’, and we will tailor each region and country to its market and customer needs.”

Geographically, the company’s group net fees in Germany fell by 13%, 14% in the UK & Ireland, 14% in Australia & New Zealand and 9% in the Rest of the World. 

Dirk Hahn, CEO, added: “We are structurally improving Hays despite challenging markets and remain resolutely focused on driving operational rigour through business line prioritisation, resource allocation and efficiency initiatives.”

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