Recruitment Trends April
Desperate labour
shortage and record low unemployment rate. How will the border opening impact
your business? New Zealand’s Borders are
finally open and the war for talent grows as a brain drain of skilled young
workers are booking flights and quitting their jobs to move overseas.
New Zealand’s Borders are
finally open and the war for talent grows as a brain drain of skilled young
workers are booking flights and quitting their jobs to move overseas. The Ministry of Business,
Innovation and Employment (MBIE) recently reported that 125,000 New Zealanders
could leave the country within 12 months.
Experts say the departure may
be higher as youth have missed the opportunity to leave on overseas experiences
since the covid-19 period. But a warning was declared to New Zealanders to
expect skill shortages to increase.
A study conducted by Business
New Zealand indicated a large percentage of the country, including the entire
South Island, only has one able worker for every two jobs advertised. Meaning
New Zealand will have to catch up in the war for talent.
There is nothing keeping
individuals in New Zealand. The financial pressure is rising due to the rising
cost of living and the wage gap.
Research from the Financial
Services Council revealed that 18 to 39-year-olds had been struck by global
inflation and rising interest rates. Jarrod Haar stated that of
the 18 to 39 age group, 56 per cent were considering leaving the country.
Australia being just around the corner is one of New Zealand’s biggest competitors due to the lower cost of living. Higher wages appear to be an attractive option for youth. Gen Z is the future of New Zealand and yet they are feeling the effects of the current economic climate more than any other age group. Research is raising concerns the age group may become a “Lost Generation”, which will critically affect the future of New Zealand’s economy.
What policies is your business implementing to secure the safety of your employees?