Recruiter Hays sees 11% income drop in Republic

However, the firm saw its fees recover strongly last month, with tech and senior finance jobs leading the way

Hays Ireland said it has seen a full recovery in recruitment fee income last month, and has recorded a 'significant pick-up' in non-construction recruitment. File photo

International recruitment company Hays has reported an 11% decline in net income at its operations in the Republic.

Hays reported a 9% drop in net fees across its global business for its third quarter, running to the end of March. Within that, the largest fall — 14% — was seen in its combined UK and Ireland division.

Breaking it down further, Hays said its third-quarter net income in the Republic fell by 11%, while it saw a 10% decline in the North.

Fees recovered last month

A spokesperson for Hays Ireland said fees generated here fully recovered last month from the monthly low seen since the start of the Covid crisis last year.

The company’s Irish business has also seen “a significant pick-up” in non-construction-related recruitment activity, with technology and senior finance jobs leading the way, they said. Hays has also increased its own staff size in Ireland, by around 5%, since last July.

Improved momentum globally

On a global basis, Hays said it is seeing improved momentum, despite the lingering Covid impact, driven by activity in its largest market of Germany, the US and China.

Group CEO Alistair Cox said the group expects full-year operating profit to be around £85m (€98m), which would be ahead of market expectations.