New Zealand Labour Market Insights: April – June, 2024

Continuing weakness in the domestic economy has seen the predictable labour market response, with fewer vacancies, slower jobs growth and rising unemployment.

New Zealand’s labour market has been relatively resilient in recent times, following a period of severe skills shortages in many sectors. But that is now starting to turn.

There is a weaker business outlook, and it’s anticipated that economic activity will be subdued for most of 2024.

The recent Budget reinforces this outlook – real GDP is forecast to contract 0.2% in the year to June 2024, and the unemployment rate is set to climb to a peak of 5.3% by the end of the year.

This report uncovers what’s happening across New Zealand, looking at how the workforce has been impacted, the challenges employers face in the current landscape and trends in national recruitment activity.

To access the report, simply fill in your details below.

New Zealand Labour Market Insights: April – June, 2024

Together, Programmed and PERSOLKELLY are the leading providers of staffing, operations and maintenances services across Australia and New Zealand – and one of the largest workforce solutions providers in the APAC region.

From market-leading staffing programs, to advanced people management, innovation and technology, we support your business to navigate and stay ahead of the rapidly changing world of work. 

Together, our experienced, capable team of problem-solvers will help you achieve more.

The benefits of partnering with PERSOLKELLY for your recruitment needs

In today’s fast-paced environment, having the right team in place is essential for success. However, the recruitment process can be time-consuming and resource intensive.

At PERSOLKELLY, we understand the challenges businesses face when it comes to staffing – which is why we offer tailored recruitment solutions designed to save you time and money.

In this blog, we’ll explore the benefits of partnering with PERSOLKELLY – as well as how our flexible options can streamline your recruitment process, making it cost-effective and efficient.

Flexibility and Customisation 

One of the key advantages of partnering with PERSOLKELLY is the flexibility we offer. We understand that every business has unique staffing needs, and a one-size-fits-all approach simply doesn’t work. That’s why we provide the option to outsource either specific aspects of the recruitment process or the entire process itself, depending on your requirements. Whether you need help with online advertising, telephone screening, or face-to-face interviews, we’ve got you covered.

At PERSOLKELLY, we offer a wide range of recruitment services that can be customised to meet your specific needs:

  • Online Advertising: We create targeted job postings to reach a wide pool of potential candidates.
  • Telephone Screening: Our team conducts initial screenings to identify the most suitable candidates.
  • Telephone Interviews: We perform detailed interviews to shortlist the best candidates for your consideration.
  • Face-to-face Interviews: We arrange and conduct in-depth interviews to ensure a good fit for your team.
  • Reference Checking: Thorough verification of candidate backgrounds to give you peace of mind.
  • Candidate Interview Coordination: Seamless scheduling and coordination to streamline the interview process.
  • Ministry of Justice (MOJ) Checks: Comprehensive MOJ checks to ensure compliance and security.

Why choose PERSOLKELLY?

Partnering with PERSOLKELLY, you can enjoy the peace-of-mind that comes with knowing your staffing needs are in expert hands. Contact us today to learn more about how we can support your business and help you build a strong, capable team.

Navigating through the market: Key Indicators for Job Seekers and Businesses

In the complex world of business, staying informed about key economic indicators is crucial for both job seekers and businesses.

Whether you’re searching for a job or managing a company, understanding these indicators can guide your decisions and strategies effectively.

Below, we will simplify these economic signals to help you understand their impact on job markets and industries. Plus, we’ll provide practical tips on how to use this information to your advantage:

Unemployment Rate

As of early 2024, the unemployment rate has declined to 4.7% – suggesting a tightening job market with increased competition for available positions (Bureau of Labor Statistics, 2024). This is a critical indicator for the overall job market.

Actionable Advice

A low unemployment rate doesn’t guarantee instant success in finding a job, but it does indicate a favourable environment. Use this time to refine your skills, network actively and pursue opportunities that align with your career goals. For businesses, a low unemployment rate can signal a competitive hiring landscape. To attract top talent, focus on offering attractive compensation packages, fostering a positive company culture and investing in employee development programs.

GDP Growth

The Gross Domestic Product (GDP) measures the economic activity within a country, reflecting the condition of the economy. The GDP growth rate recently reported a robust increase of 3.2% for the fiscal year 2024, indicating a vibrant economy (World Bank, 2024).

Actionable Advice

Job Seekers should pay attention to GDP growth trends to identify industries and regions experiencing an economic boost. Consider targeting your job search in sectors that are expected for growth and investment.

Businesses should use GDP growth data to plan strategic decisions about expansion, hiring and investment. A robust GDP growth rate may present opportunities to scale your business and capitalise on emerging markets.

Wage Growth

Wage growth indicates the increase in average wages of labour and its demand. Recent trends show a 5.3% increase in average wages across sectors in 2024, suggesting tightening labour conditions and a competitive job market (Bureau of Labor Statistics, 2024).

Actionable Advice

Job Seekers can focus on negotiating for competitive salaries based on market trends. Invest in skills development to enhance your value in the job market. Consider industries or roles experiencing higher wage growth for better earning potential.

Businesses must stay competitive by offering competitive wages and benefits packages to attract and retain top talent. Monitoring wage growth trends to anticipate changes in labour market dynamics can help in adjusting recruitment and retention strategies accordingly. Invest in employee training and development to ensure workforce productivity and satisfaction, contributing to long-term growth and success.

Conclusion

Navigating the economic indicators is important for informed decision-making in your career or business. By understanding and interpreting these signals, you can strategically position yourself to take advantage of the dynamic job market and economic conditions.

Remember, in the vast expanse of economic seas, knowledge is your compass, and foresight your guiding star. Arm yourself with insights, adapt to changing tides and chart a course towards success in the world of work and commerce.

Sources: Bureau of Labor Statistics, Federal Reserve Economic Data, World Bank

The Real Cost of Recruiting: Why Engaging a Recruitment Agency is a Smart Business Move

Recruiting new talent is a fundamental aspect of business growth and development.

However, the process of finding, vetting and hiring the right candidates is often resource-intensive and can place significant strain on a business.

By exploring the true cost of recruitment and the benefits of partnering with a recruitment agency, businesses can make informed decisions to optimise their hiring processes and mitigate operational pressures.

The True Cost of Recruiting

Recruitment isn’t just about posting a job ad and waiting for applications to roll in. It involves a complex and often costly series of steps:

1. Advertising and Job Boards: Posting on popular job boards and industry-specific sites can quickly add up. Premium listings, featured ads and sponsored posts increase visibility, but come with higher price tags.

2. Time Investment: The time spent by HR and management teams in crafting job descriptions, reviewing resumes, conducting interviews and communicating with candidates is substantial. This time investment translates directly into financial costs, as these hours could be spent on core business activities.

3. Screening and Assessment: Background checks, skills assessments and personality tests are essential to ensure candidate suitability. These services often require external vendors, adding to the overall expense.

4. Opportunity Cost: The longer a position remains unfilled, the greater the impact on productivity and, potentially, revenue. Delays in hiring can stall projects, overburden existing staff and lead to burnout and reduced morale.

The Strain on Business Operations

The recruitment process can strain a business in several ways:

• HR Overload: For smaller companies, the HR team may already be stretched thin – managing payroll, benefits and employee relations. Adding the recruitment process can lead to burnout and decreased efficiency.

• Management Distraction: Leaders and managers need to be involved in the hiring process to ensure candidates align with company goals and culture. However, this involvement can distract them from strategic decision-making and other critical tasks.

• Inconsistent Hiring Outcomes: Without dedicated recruitment expertise, the process can be inconsistent – leading to suboptimal hires. This can result in higher turnover rates, which, in turn, repeat the cycle of recruitment costs and operational strain.

Why Engage with a Recruitment Agency?

Partnering with a recruitment agency can alleviate many of the costs and pressures associated with hiring. Here’s how:

1. Expertise and Efficiency: Recruitment agencies specialise in identifying and attracting talent. Their expertise ensures a more efficient process, reducing the time to hire and increasing the quality of candidates presented.

2. Cost-Effective Solution: While there is an upfront cost to engaging an agency, it often pales in comparison to the cumulative costs of a prolonged, in-house recruitment process. Agencies streamline the hiring process, minimising downtime and lost productivity.

3. Access to a Wider Talent Pool: Agencies have extensive networks and databases of pre-vetted candidates.

4. Mitigation of Hiring Risks: Agencies often provide guarantees, offering replacements if a hire doesn’t work out within a certain period. This reduces the risk associated with recruitment and provides peace of mind.

5. Focus on Core Business Activities: By outsourcing the recruitment process, businesses can focus on what they do best – driving growth, innovation and serving their customers. This delegation can lead to better overall performance and employee satisfaction.

Recruitment is a critical but costly and time-consuming process. The strain it places on businesses can be significant, impacting productivity and growth. By partnering with a recruitment agency, businesses can leverage specialised expertise, reduce costs and ensure a more efficient and effective hiring process. In the long run, this strategic move can lead to better hiring outcomes, improved operational efficiency and a stronger, more focused organisation.

New Zealand Budget Summary, 2024-25

Plenty of winners but some losers in ‘back to basics’ Budget.

Key points

  • Unemployment to peak at 5.3%
  • Economy to contract in 2024 before strengthening in 2025
  • Apprentice Boost eligibility narrowed
  • Skills programs cut, infrastructure boosted

The first Budget of Finance Minister Nicola Willis has foreshadowed a period of severely constrained economic activity and higher unemployment.

The outlook suggests there will be difficult times ahead for the rest of 2024, before conditions gradually improve over 2025 and beyond.

The focus on achieving Budget savings has seen cuts to skills and training programs that were introduced by the former government.

Funds are going into areas such as transport, infrastructure and tax cuts, where it is intended that spending will boost economic activity.

To access our full budget summary, simply fill in your details below.

New Zealand Budget Summary, 2024-25

Unless stated otherwise, information was sourced from the Budget 2024 documents, ministerial statements, media releases and portfolio papers: budget.govt.nz/

This is general information only and should not be taken as constituting professional advice from Programmed. Programmed is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Programmed is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided.

Together, Programmed and PERSOLKELLY are the leading providers of staffing, operations and maintenances services across Australia and New Zealand – and one of the largest workforce solutions providers in the APAC region.

From market-leading staffing programs, to advanced people management, innovation and technology, we support your business to navigate and stay ahead of the rapidly changing world of work. 

Together, our experienced, capable team of problem-solvers will help you achieve more.

Navigating Your Career Path with PERSOLKELLY’s 2023-24 Salary Guide

In an era defined by economic shifts and global uncertainties, job seekers are faced with unique challenges.

The PERSOLKELLY 2023-24 Economic and Employment Key Insights and Salary Guide is your job-seeking compass, guiding you through the intricate maze of career choices and salary landscapes.

Here are seven ways this comprehensive guide can be your ultimate tool for making informed decisions and securing the right job in a rapidly evolving employment market:

1. Navigating the economic waves

  • Understand the impact of inflation and geopolitical instability on job markets globally.
  • Gain insights into how these factors influence salary trends across industries, helping you align your expectations with the current economic climate.

2. Decoding the Australian and New Zealand job markets

  • Explore the economic slowdown in Australia and New Zealand, and its direct impact on job opportunities.
  • Leverage information on changing government policies to identify sectors with burgeoning job prospects.

3. Tailoring your job search strategy

  • Uncover the challenges organisations face in talent acquisition and position yourself as the solution.
  • Use our Salary Guide to align your skills with industry needs, making your job search more targeted and effective.

4. PERSOLKELLY’s 2023-24 Salary Guide: Your personalised resource

  • Discover how the guide compiles salary data from industry experts, offering a detailed breakdown across various sectors.
  • Access tips and tricks tailored for candidates, providing insider knowledge on securing the right job in a competitive market.

5. Industry insights for informed decision-making

  • Gain a comprehensive understanding of salaries in your desired industry, enabling you to negotiate effectively during job offers.
  • Utilise real-time statistics to benchmark your salary expectations against industry standards, ensuring you receive fair compensation.

6. Your job search companion: Tips, blogs and stats

  • Explore the guide’s supplementary resources, including tips and tricks for acing interviews and standing out in the job market.
  • Stay informed through blogs and statistical insights, empowering you with the knowledge needed to navigate the evolving landscape of employment.

7. Building your future with PERSOLKELLY

  • Embrace the Salary Guide as more than just a tool – it’s your companion in making strategic career decisions.
  • Utilise the guide’s holistic approach to understanding salaries, industries and job market dynamics, ensuring you’re well-equipped to shape your professional future.

Embark on your job search journey armed with the insights and resources provided by PERSOLKELLY’s 2023-24 Salary Guide.

From decoding industry salaries to mastering the art of job interviews, this guide is your key to unlocking opportunities and navigating the evolving world of work with confidence.

Your next career move begins now – click here to download our 2023-24 Economic and Employment Key Insights and Salary Guide, or speak with one of our dedicated consultants to get the process rolling!

Five reasons to consider a career in recruitment

By Kurt Gillam, Executive General Manager PERSOLKELLY Australia.

The field of recruitment is not only fast-paced, challenging and dynamic, but it also offers a plethora of opportunities. Consultants can not only advance their own career trajectory but help others with their own careers as well. If you’re looking for a new direction, a move into recruitment could be worth considering.

Here are five reasons to consider a recruitment career:

1. Gain valuable and in-demand skills
One of the great things about working in recruitment is the skills you gather while working in the industry. A role in recruitment can build your interpersonal, communication and relationship management skills. These skills are all transferable to other industries, making them invaluable no matter which field you may choose to work in future. Recruitment is extremely people-focused and centres around interacting with a variety of individuals in a range of situations. Helping you develop soft and interactive skills and gain experience dealing with people from all walks of life.

Recruiters can conduct job matching, character assessments, interviews, background checks and due diligence in a typical day. As such, the job naturally suits analytical and organised individuals with excellent time management skills. A job in recruitment will help you learn and further develop a range of easily transferable skills that you’ll continue to draw on for years to come, no matter what industry you end up in.

2. Help others while you also advance
A career in recruitment means regularly interacting with employers and job seekers, helping you improve your interpersonal skills and active listening ability. It’s important to be able to carefully listen to both clients and candidates to find out exactly what they’re looking for. Doing so can vastly improve your problem-solving skills and foster critical thinking while helping individuals and companies find their perfect matches.

Finding good fits for both active or passive job seekers and organisations will widen your understanding of the job market and how it differs between industries and roles. Finding these perfect fits involves interacting with hiring managers, human resources teams and high-profile positions with companies, helping you build up a valuable range of connections.

You may use these connections to help find candidates or even for the advancement of your own career.

3. It’s a fast-moving and ever-changing industry
Recruitment is dynamic, offering countless opportunities for change and growth. As industries and job markets change, the recruitment industry evolves. New technologies have come along and transformed the way the recruitment process is conducted. From paperless applications, and digital background checks through to remote video interviews and testing suites. While application Tracking Systems (ATS) have streamlined and automated parts of the hiring process.

Advancing technologies have also brought about numerous improvements in learning opportunities available to recruiters, such as online training and conferences. You’ll have the chance to develop leadership skills, set clear directions and be agile as you advance through your career in recruitment. 

4. Autonomy can assist in better mental health
Recruitment is a people business that revolves around servicing the needs of candidates and clients. Like many roles over the past few years, recruitment has become more agile and flexible in terms of the location in which work is conducted. As consultants will often meet with clients and candidates both in and out of the office, it’s a career that suits driven individuals that thrive working autonomously.

According to Mental Health UK, autonomy in the workplace can help promote better mental health and even prevent excess stress and burnout.

5. It’s an in-demand profession
The 2021 Business Market Insights report predicted that the online recruitment industry in APAC is expected to grow from USD6.8 billion in 2021 to USD12.4 billion by 2028, nearly doubling in just seven years.

As the job market continues to boom after being heavily impacted by the pandemic, the search for clients will ensure the demand for qualified recruitment consultants remains high. Resulting in great prospects for those either already in the industry or looking to enter recruitment.

Conclusion
There’s no doubt that a career in an established recruitment firm has many long-term benefits for your career. Transferrable skills, and building your network while also helping candidates achieve their career goals are just a few of the things to be gained from a career in the industry.

Once you build your career, the rewards are endless. Quite often, there is nothing quite as rewarding that the long-term friendships that you will build with your colleagues as a result of working in a vibrant company culture, however, you will have the opportunity to get back from what you put in – be it interstate or overseas travel, awards and prizes, learning and development opportunities, promotions and uncapped earning potential. The sky really is the limit.

If you’re looking for a change to a challenging yet rewarding job, then a role in recruitment could be the perfect move for you. You never know where it’ll take you.


We’re always on the hunt for great people to join our team. If you’re confident and caring, proactive and passionate, smart and resourceful, and want to kick-start or continue your career in helping others achieve their career goals, then we’d love to hear from you.

To register your interest in a future with PERSOLKELLY, visit our careers page.