Robert Walters, one of the world’s largest recruitment firms, reported a return to hiring growth after a prolonged period of decline. Speaking about the trend, Toby Fowlston, the company’s chief executive, attributed the increased job-seeking activity to workers’ need for higher wages amid rising living costs.
Despite ongoing economic and geopolitical uncertainty, particularly in the UK, Robert Walters’ consultants noticed increased candidate engagement during the summer months. This development contrasts with the downturn in hiring that had persisted for over three years, largely attributed to market unpredictability.
Fowlston highlighted that many workers are motivated by affordability challenges. He pointed to the stark shift since 2021 and 2022 when historically low mortgage rates helped ease financial pressures; with inflation and the cost of living climbing sharply since then, employees are driven to seek better compensation. Although pay rises have moderated compared to the significant increases seen during the post-lockdown “Great Resignation,” individuals in certain in-demand sectors, such as cybersecurity and law, are reportedly receiving double-digit salary increments when changing jobs.
The chief executive also noted a growing willingness among employees who had remained in their roles for several years. “People have been in jobs for four or five years and they want to progress,” Fowlston said. He suggested that persistent global uncertainties, including conflicts and economic sluggishness, are no longer deterring workers from pursuing new opportunities as they have come to accept the “new normal.”
Founded in 1985 by Robert Walters, the company currently employs 2,772 people across 29 countries, a reduction of about a third from 2022 levels. The firm posted net fee income of £69.7 million between July and September 2026, marking a 1 percent increase compared to the same period last year when currency effects are excluded. This growth represents the group’s first positive movement since early 2023.
Regionally, the UK emerged as the strongest market, with fee income rising 10 percent year-on-year over the summer. The Asia Pacific region showed static performance overall, balancing gains in Japan and New Zealand against weaker results in Australia and China. Meanwhile, Northern Europe, particularly France and the Netherlands, continued to face challenges.
Following the improved summer performance, Robert Walters forecasted that its full-year 2026 financial results would at least meet current market expectations. However, the company still anticipates a second consecutive operating loss close to £8 million. Industry analyst Sanjay Vidyarthi of Peel Hunt indicated that the upside risks for the year outweigh downside concerns, reflecting cautious optimism about the recruitment sector’s recovery.
Robert Walters shares responded positively to the news, closing up 3.9 percent at 135 pence and having gained over 60 percent since July amid increasing investor confidence in the labour market rebound.