Annual Report 2020

MEGATRENDS IN THE WORLD OF WORK

The world of work is being shaped by powerful megatrends, which may accelerate given the effects of the pandemic. Our strategy is designed to capitalise on these trends, targeting structural growth opportunities within our cyclical end markets.

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.

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SKILL SHORTAGES AND BUSINESSES’ DEMANDS FOR FLEXIBILITY

In uncertain economic times, our clients increasingly look 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.

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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 less mature economies, although previous economic downturns have shown that outsourcing to specialist recruitment agencies can accelerate. Over half of our business today is in structural growth markets. We continue to observe a shift, mainly among large corporates, towards centralised procurement.

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EMERGENCE OF NEW, AND EVOLVING, TECHNOLOGIES

Even before the pandemic, technology was transforming how people work. The ways in which clients and candidates engage and interact with job markets, and Hays, have been revolutionised in recent years. Almost every area of recruitment is becoming digitally enabled at a rapid pace, creating vast quantities of valuable data which, if analysed appropriately, can deliver deep insights and give our consultants a significant information and speed-to-market edge.

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