Annual Report 2018

INDUSTRY MEGATRENDS

We identify four megatrends which are influencing the shape of employment markets and which summarise the changes in how people are choosing to work. As these themes unfold, we are adapting how we manage our business and develop our strategy.

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MORE AND VARIED WAYS OF BUILDING A CAREER

For many skilled candidates, the ‘job for life’ mentality is ending. There is an increasing appetite to embrace flexible, project styles of working. Candidates are seeking interesting, and often highly paid, Temp and Contractor roles, as they build ‘portfolio’ careers.

In addition to gaining new experience and improving their marketability, Temp and Contracting gives candidates the flexibility to take prolonged vacations, or voluntary career breaks. Non-Perm markets are becoming an increasingly important part of many of our businesses.

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SKILL SHORTAGES AND BUSINESSES’ DEMANDS FOR FLEXIBILITY

Our clients increasingly need to add flexibility to their skilled workforce. In doing so, they can respond to fast-changing market conditions, accessing the skilled labour they need, precisely when they need it. They can also convert a traditionally fixed employee cost into a variable expense. Accordingly, for a growing number of businesses, Contract and Temporary workers make up an increasingly important part of their skilled workforce.

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STRUCTURAL MARKET GROWTH AND EVOLVING CLIENT DEMANDS

Most professional recruitment around the world is still done by in-house HR teams. This is true across mature and emerging economies although both are increasingly opening up the concept of outsourcing specialist recruitment.

We continue to observe a shift, mainly among large corporates, towards centralised procurement. Our services must be tailored to these different client needs, whether it is first-time outsourcing or providing different specialist recruitment delivery models.

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EMERGENCE OF NEW, AND EVOLVING, TECHNOLOGIES

Technology is transforming how people work. It is revolutionising how clients and candidates engage and interact with job markets, and with Hays. Almost every area of recruitment is becoming digitally enabled at a breath-taking pace, creating vast quantities of valuable data.

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