British recruiters warn on tough hiring market conditions
Robert Walters, Hays and PageGroup flag tough hiring market
UK, French elections dent quarterly net fees
Robert Walters shares fall as much as 6%
Rewrites throughout with British recruiters' results, updates share prices
By Prerna Bedi
July 15 (Reuters) -British recruiters warned of tough hiring market conditions in the near-term as workers avoid switching jobs and employers take longer to fill vacant positions due to economic and political uncertainties exacerbated by elections in Britain and France.
Robert Walters RWA.L on Monday joined bigger peers PageGroup PAGE.L and Hays HAYS.L in reporting a fall in net fees for the three months ended June 30, hurt partly by UK and France elections.
Higher interest rates and inflationary pressures have also weighed on recruitment companies leading to layoffs or hiring freezes.
"Our near-term planning now assumes that any material improvement in confidence levels will be gradual, and likely not occur before 2025," Robert Walters CEO Toby Fowlston said.
Fowlston told Reuters that the elections had an impact in both markets, but especially in the British public sector where recruitments had slowed over the last three months.
Shares in the London-headquartered company dropped as much as 6% in morning trade before paring some losses to trade 3% lower at 370 pence apiece as of 0801 GMT.
PageGroup stock fell 2.4% while Hays was marginally down 0.8%.
Hays forecast on Thursday annual profit below market expectations after its June net fee was dented by British and French elections.
Peer PageGroup had warned a day earlier that it expected its full-year profits to nearly halve on concerns that France's political uncertainty was making recruitment activity even more difficult.
"Coming back after that (election) weekend, we had a number of clients contact us... candidates either wanting to pull out of processes to wait to see what happened, or clients putting interviews on pause and recruitment on pause," PageGroup CEO Nicholas Kirk said.
Robert Walters said that the slowdown in France would continue in the near-term.
Total net fee income for Robert Walters fell 12% at constant currency for the three months ending on June 30. Net fee income in Britain fell 18% year-on-year and dropped 20% in France.
Reporting by Prerna Bedi in Bengaluru; Editing by Subhranshu Sahu, Helen Popper and Emelia Sithole-Matarise
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
