pivot

Annual Report 2023

As a global industry leader in recruitment, our strategy is designed to capitalise on powerful megatrends which drive the world of work. These include long-term skill shortages, changing work habits, new job category creation, continual need for upskilling and demographic changes. We are also market leaders in some of the most attractive, long-term structural growth markets globally. At Hays, we are 'Working for your tomorrow', and via our expertise and unique culture, we benefit many stakeholders across society. It is a privilege to be able to share these stories.

Andrew Martin
Chair

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What 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.11,100 people in 33 countries across 21 specialisms.

1,100+ Jobs filled every
working day

58K Perm roles filled
in FY24

225K Temp assignments
placed in FY24

Our performance this year

  • Net Fee Income

    £1,113.6m

  • Net cash

    £56.8m

  • Operating Profit

    £105.1m

  • Core Dividend per Share

    3.00p

  • Basic Earnings per Share

    4.03p

  • Free cash flow

    £59.0m

Download Full Year Results (1.4MB)

Accelerating megatrends in the new world of work

The world of work is being shaped by powerful long-term megatrends. Our strategy is designed to capitalise on these, targeting structural growth opportunities within our cyclical end markets.

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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

How Hays will win in the new world of work

Our strategic priorities

  • growGROW - Materially increase core recruitment fees, particularly in long-term structural growth sectors and with Enterprise clients
  • enhanceENHANCE - Drive productivity to deliver profit and cash, fund reinvestment and enable substantial returns to shareholders
  • diversifyDIVERSIFY - Substantially grow new revenue streams and partnership-based areas such as Talent Services and in Project Services globally
  • partnerPARTNER - Nurture lifelong client and candidate partnerships and build the deepest and most engaged Talent Networks worldwide

All of this is supported and underpinned by our continuous investment in our people, culture and sustainability. Nurturing the best talent and cultivating a diverse, equitable and inclusive culture are the cornerstone of Hays' success.

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.300,000

people in new jobs

8,590

sector experts

4,506

internal promotions

20%

of new joiners' time spent in training

c.18,000

volunteer hours

OUR THREE POINT 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