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Hays responds to the budget

22 March, 2011

Hays, the leading recruiting expert, welcomes the Government’s new measures to support small businesses and its strategy to address UK skills shortages. But more needs to be done to ensure growth, according to Charles Logan, Director at Hays.

Commenting on today’s Budget, Charles Logan says: “The greatest problem is existing employment legislation and the abundance of red tape that is really preventing growth. We need the Government to act quickly with regards to its plans to scrap £350m of business regulation and work with employers to ensure any new and existing regulation is easy to implement and supports both employers and employees.

“The implementation of the Agency Workers Directive needs to be a priority. UK employers are dependent on a flexible labour market and don’t need any further administrative burden so we urge the Government to clarify the implementation of the new regulation. This is essential if we are to support small businesses to grow, ensure organisations have access to sufficient resources when required and promote new job creation.

“Growth also depends on addressing the skills shortages that we now face in the UK. It is positive to see that the Government plans to fund 24 university technical colleges, create 40,000 new apprenticeships for young people and fund 100,000 work experience placements. But these strategies will only be successful in closing the skills gap and reducing high levels of unemployment if we continue to engage with young people and the jobless to encourage them to train and develop skills in the more “in demand” areas. £100m investment in new science facilities is also a step in the right direction given the lack of students emerging with key STEM (Science, Technology, Engineering, and Mathematics) skills. Ensuring the UK is an attractive place for businesses to invest will kick-start job creation and secure our economic growth.”

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About Hays

Hays plc is the leading global specialist recruitment group. It is market leader in the UK and Australia, and one of the market leaders in Continental Europe. As at 31 December 2010, the Group employed 7,086 staff operating from 257 offices in 30 countries across 17 specialisms.

For the year ended 30 June 2010:

– the Group reported net fees of £557.7 million and operating profit before exceptional items of £80.5 million;the Group placed around 50,000 candidates into permanent jobs and around 180,000 people into temporary assignments;
– 26% of Group net fees were generated in Asia Pacific, 30% in Continental Europe & RoW and 44% in the United Kingdom & Ireland;
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees; and
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, USA and the United Kingdom.

For further press information please contact:
Emma Price
T. 020 7259 8821