Job Churn

Hays the UK’s largest recruitment company have said that although business are replacing employees who have left, they are not creating any new jobs.

Speaking on Radio 4’s today programme, Alastair Cox, chief executive of Hays said that “”At the moment most of the demand for jobs is simply organisations replacing employees who’ve left. So it’s really about job churn at the moment”. He went on to explain that “Candidates are confident enough to change jobs, but we’re not seeing new jobs being created as such.”

Hays recently reported an 80% drop in annual profits to £29.7m, this comes at a time when many companies are watching their headcount and being cautious about creating new openings.

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