The New Zealand Labour Market Landscape. Effect of these factors on the Labour Market.
Employees seriously considering their current remuneration and using market pressures to maximize their employment.
Business Impacts.
Wages have risen by 7.6%. Minimum wage is now 74% of NZ’s median wage.
Business pressure to increase wages in an already stretched environment
02.
Continued wage growth as cost-of-living increases allow employees to apply pressure for market wide pay increases.
Business is optimistic that border openings will alleviate some of the strain. Visa applications processes risk this.
Employers prioritising retaining staff
01.
10
Big pay rises are concentrated to specialised roles in talent short markets where the balance of power sits with the employee.
03. Job advertising is less effective, networks and databases are crucial to finding talent.
04.
