Overview

• Hays’ UK and Ireland chief executive Tom Way said the country is becoming “unattractive to hire people permanently” as employers weigh automation and offshoring.
• Employer National Insurance rose by about 1.2 percentage points in the 2024 Autumn Budget and the higher national minimum wage took effect in April, increasing labour costs.
• Hays reported companies are reassessing which roles require humans, turning to AI or outsourcing for the rest, while more workers opt for project‑based arrangements.
• A Bank of England survey indicated employment fell at a 0.5% annual rate in the three months to August, the fastest decline in four years.
• Industry examples cited include Big Four accountancy firms cutting graduate intakes by up to 29% and earlier reports of banking roles at risk as investment in AI grows.