Average salaries in New Zealand have increased by almost $100 a month according to new data.
New Zealand’s employers are paying an average of $94 a month more this year for each worker compared to a year ago. The data, compiled by online employment market place SEEK assessed year-on-year salary increases for the 12 months to June 2015.
The average advertised salary for New Zealand workers increased by $1,674 to $74,965 but there are some wide regional variations.
Employers in Wellington are paying the most on average with a 1.9 per cent annual increase in advertised salaries to $80,934 while those in Waikato pay the least at $69,168, but the area saw the largest proportional increase of 4.2 per cent.
Elsewhere, Auckland wages were up 2.3 per cent to $76,338; Canterbury workers cost employers an extra 2.6 per cent at $72,512; but wages decreased in Taranaki by 8.5 per cent to $72,376.
SEEK’s Janet Faulding noted that wage increases are usually cost-effective compared to replacing employees: “Awarding performing employees with a pay increase is often a somewhat inconsequential cost to the business compared to having to replace them if they leave. It is accepted across human resourcing that it typically costs businesses three times as much to fill roles once loss of productivity, time to hire and resource to retrain is factored in. From a pure cost perspective, it makes complete sense to reward your employees with a competitive remuneration package, or performance bonus if they are a standout performer”.
Across various sectors wage increases averaged 2 per cent for consulting, engineering and construction while ICT roles were paying 1 per cent more. Roles in mining, resources and energy declined by 8 per cent.
Employers hiring environmental and sustainability consultants were offering the largest increases in advertised roles with an 11 per cent hike to $88,396.
The average advertised salary for New Zealand workers increased by $1,674 to $74,965 but there are some wide regional variations.
Employers in Wellington are paying the most on average with a 1.9 per cent annual increase in advertised salaries to $80,934 while those in Waikato pay the least at $69,168, but the area saw the largest proportional increase of 4.2 per cent.
Elsewhere, Auckland wages were up 2.3 per cent to $76,338; Canterbury workers cost employers an extra 2.6 per cent at $72,512; but wages decreased in Taranaki by 8.5 per cent to $72,376.
SEEK’s Janet Faulding noted that wage increases are usually cost-effective compared to replacing employees: “Awarding performing employees with a pay increase is often a somewhat inconsequential cost to the business compared to having to replace them if they leave. It is accepted across human resourcing that it typically costs businesses three times as much to fill roles once loss of productivity, time to hire and resource to retrain is factored in. From a pure cost perspective, it makes complete sense to reward your employees with a competitive remuneration package, or performance bonus if they are a standout performer”.
Across various sectors wage increases averaged 2 per cent for consulting, engineering and construction while ICT roles were paying 1 per cent more. Roles in mining, resources and energy declined by 8 per cent.
Employers hiring environmental and sustainability consultants were offering the largest increases in advertised roles with an 11 per cent hike to $88,396.