pivot

Annual Report 2022

We are purposefully building the leading recruitment and HR services business in the most attractive markets globally. We are creating longer-term, stickier relationships with clients and candidates, which is creating more opportunities to grow than we have ever faced. Our aspiration is to double our profits* over five years, and to do so from more diversified revenue streams.

Hays has emerged from the pandemic stronger than ever, powered by our c.13,000 expert colleagues worldwide. It is a privilege to be able to tell ‘Our Hays Story’ for FY22.

Alistair Cox
Chief Executive

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What do we do?

We have world-class expertise building world-class businesses. We are leading global experts in qualified, professional and skilled recruitment. We employ c.13,100 people in 32 countries across 21 specialisms.

1,300+ Jobs filled every
working day

84K Perm roles filled
in FY22

250K Temp assignments
placed in FY22

Our performance this year

  • Net Fee Income

    £1,189.4m

  • Net cash

    £296.2m

  • Operating Profit

    £210.1m

  • Core Dividend per Share

    2.85p

  • Basic Earnings per Share

    9.22p

  • Special Dividend per share

    7.34p

  • Free cash flow

    £143.4m

  • SHARE REPURCHASES

    £18.2m

Download Full Year Results (1.0MB)

Accelerating megatrends in the new world of work

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

The pandemic has significantly changed the world of work and accelerated powerful, inter-related megatrends

  • Organisation challenges
  • Skill shortages
  • Employee demands
  • Demographic challenges
  • Societal demands

Why Hays delivers success

Our purpose is to benefit society by investing in lifelong partnerships that empower people and organisations to succeed. We achieve this via our business model, which is centred around solving our clients’ talent problems. Our services range from Contracting, Temp and Permanent recruitment to complex, integrated HR solutions.

Hays sits at the heart of this rapidly changing work ecosystem, and we strongly benefit by solving our clients’ talent problems

  • Skill shortages
  • New job creation
  • Greater job churn
  • Workforce challenges
  • Wage inflation

Five reasons Hays is positioned to win in the new world of work

  1. Global scale and delivery capability
  2. Unrivalled Talent Networks
  3. Growing from a position of market leadership
  4. Our diverse SME client base
  5. Strong enterprise relationships

How Hays will win in the new world of work

Our strategic priorities

  • GROW - Materially increase core recruitment fees, particularly in Technology recruitment and with Enterprise clients
  • ENHANCE - Drive productivity to deliver significant profits and cash flows, funding reinvestment and enabling substantial returns to shareholders
  • DIVERSIFY - Substantially grow new revenue streams and partnership-based areas such as HR Services and Project Services globally
  • PARTNER - Nurture lifelong client and candidate partnerships and build the deepest and most engaged Talent Networks worldwide

These four priorities are supported and underpinned by how we aim to ENABLE our colleagues to reach their full potential by our continuous investment in our people and culture.

How we create value

As the ultimate people business, everything we do is focused on placing the right people into the right roles.

Over

c.350,000

people in new jobs

35,000

talent networks

9,037

sector experts

4,840

internal promotions

20%

of new joiners' time spent in training

c.10,000

volunteer hours

OUR THREE POINT INVESTMENT CASE

INVESTMENT CASE

INVESTMENT CASE

One: Growth opportunities

One: Growth opportunities

Two: Scale, strength & depth of relationships

Two: Scale, strength & depth of relationships

Three: Highly profitable & cash-generative

Three: Highly profitable & cash-generative