New Zealand’s strong economic performance creates staff retention jitters

Tue, 04/21/2015

The 2015 Robert Half Salary Guide highlighted that New Zealand CFOs are concerned about losing their top professionals this year; and 75% of business leaders can’t find the talent they are looking for when hiring.

“Inflation is controlled, unemployment is falling and the Kiwi economy continues to perform well, supported by the services and export sectors. There is also significant construction underway for Auckland and the rebuild of Christchurch,” Megan Alexander, Robert Half NZ Manager said.

“A strong renewal of focus on work life balance also reflects increasing employee confidence as the New Zealand economy moves on from the GFC.

“It is unsurprising that employers are concerned about losing good staff. There is a skills shortage across the board, and particularly in the finance and accounting sector, right up to managerial positions.

“To help retention our results shows that 55% of CFOs across small and large companies intend to raise salaries this year,” Ms Alexander said.

“What we’ve seen with the finance and accounting sector is a greater willingness to negotiate remuneration with top candidates than in previous years."

“Demonstrating strong technical competency or showing measurable results is the most effective way of getting a pay rise.

“Salary increases have occurred over the past 12 months and remuneration can always be further assessed for talented staff,” Ms Alexander said.

Robert Half research indicated that 79% of CFOs are concerned about losing their top finance and accounting professionals in 2015.

“Increased work life balance was cited as a key reason why people are leaving jobs, followed by career advancement elsewhere,” Ms Alexander said.

“While increasing salaries helps to retain top talent, autonomy and flexibility for staff drives productivity as well as assists in retaining talent for the long term,” Ms Alexander concluded.

Want to gain unique insights into the latest average salaries across a number of sectors, anticipated year on year increases and other trends in New Zealand’s current hiring environment? Download the 2015 Robert Half Salary Guide today.

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