Companies in the “Finance, Insurance & Real Estate” and “Public Administration & Education” sectors are likely to maintain their hiring pace despite the decline in other sectors, according to the ManpowerGroup’s latest Employment Outlook Survey.
The gains are seen to offset the declines in “Transportation & Utilities” and “Wholesale & Retail Trade” sectors.
Generally, hiring intentions in New Zealand saw a slight uptick in the past three months compared to the same period the previous year, and 19% companies expect to increase hiring.
Only 3% will reduce their manpower while 77% anticipate no changes. As a result, not all workers across the economy will benefit from wage growth even as employees in the performing sectors will see greater salary negotiating power. Data came from nearly 650 employers in New Zealand.
“With strong labour force participation and unemployment on a decline, New Zealand employers are facing increased wages pressure in 2018. Job seekers now have greater leverage to negotiate a higher salary for their skills and employers will have to respond accordingly in order to attract and retain the best talent the market has to offer,” said ManpowerGroup New Zealand general manager Paul Robinson.
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