EU referendum fears weigh on Hays' UK hiring

Hays’ UK fees have fallen 3% as Brexit concerns have slowed hiring in the private and public sectors.

Paul Venables, the recruiter’s finance director, said today that the EU referendum increased caution. “If you are a business, it’s bound to make you more cautious coming up to the poll in June. But we have been talking about growth slowing since March last year and lots of companies are focused on cost control.”

The lacklustre performance of the UK business from January to March, with fees in the public sector down 9%, reflects the experience of other recruiters.

However, the business’s third-quarter UK results were outweighed by a strong recovery in its European operations, where net fees climbed 11%.