Consumer confidence across New Zealand is looking up, and so is the employment market. The latest SEEK data shows job ads are on the rise and average advertised salaries are also trending higher.
Job ads on SEEK rose by 6.5% year-on-year in March and the vast majority of industries experienced growth. Most regions across the country recorded higher levels of advertising relative to the past five years and, in most instances, the trend has been increasing over the past four months. Auckland and Canterbury are exceptions to this trend– although advertising in these regions remains strong, the growth has been stable in recent months.
Phill Van Syp, Managing Director of 1st Call Recruitment, says New Zealand’s employment market remains buoyant. “Despite media report of a slowing economy, we are busier than ever,” he says. “In fact, I don’t know of any recruiters who aren’t busy right now.”
Industries on the rise
Consulting and strategy led the way for year-on-year job ad growth on SEEK. Government & Defence was also one of the leaders and Marketing & Communications recorded strong levels of advertising relative to the past five years.
The latest SEEK data shows while job ads for Construction remain strong, the trend has been easing over the past four months, however average advertised salaries have been increasing over the past four months. Van Syp says demand for construction talent is still high. “There is strong demand for candidates across Construction as well as Trades & Services and competition among employers is quite tough,” he says. “Employers can’t afford to hesitate—when they find the right person, they need to be ready with a job offer.”
Meanwhile, the Retail & Consumer Products industry has experienced strong levels of advertising on SEEK relative to the past five years and the trend has been increasing over the past four months. The latest ANZ-Roy Morgan survey of consumer confidence rose 1.4 points to 123.2 in April, above the neutral 100 point. New Zealanders’ perceptions of their current financial situation also rose 2 points to a net 14% feeling financially better off than a year ago. This may spell good news for the retail industry in the coming months.
A slip for the sales
While most industries recorded year-on-year growth in March, sectors such as Insurance & Superannuation and Sales recorded small declines.
The good news for employers in the sales industry is that applications-per-ad are clearly rising on SEEK, which suggests a wider pool of talent to choose from.
Boosting your value proposition
As demand for talent across the country remains strong, Van Syp says now is the time for employers to review their recruitment strategy. “The first thing to consider is your internal recruitment processes,” he says. “If you leave candidates waiting because of an inefficient process, they will go elsewhere. In the current market, candidates may be interviewing for several roles at once and if you are slow with an offer, you may miss out.”
Van Syp also suggests considering additional benefits to attract and retain the best talent. “This applies to all industries,” he says. “At our company, we’ve recently started offering medical insurance because we know it’s something our people value. Employers also need to develop a strong culture and promote it on the website because candidates will be doing their research.”
