Quarterly Snapshot - Q4 2022

The New Zealand labour market remains tight and there continues to be an extremely high demand for talent.

There is an increase in people arriving into New Zealand which is boosting optimism, but this is countered by a growth in younger New Zealanders leaving the country now that they are able to travel.?

According to MBIE data, online job advertising grew by 28% over the year to August 2022. There is a strong demand for ICT project managers, with the role appearing on Immigration New Zealand's long-term skill shortage list. Demand for project managers outside of ICT remains steady.?

We are seeing this at Starfish, along with an increased demand for permanent roles as more organisations embark on workforce planning to address critical skills gaps. From a candidate perspective we are seeing an increased focus on finding roles that offer career development, flexible working, and the opportunity to contribute to the bigger picture. Clients who are able to demonstrate a clear employee experience and career development plan will increase their opportunities of attracting the best talent.

Other trends in the last 3 months are as follows:

• Increased caution on CAPEX funding has led to programmes and portfolio’s being reset or re-prioritised going into the election cycle in 2023
• Increase in candidates being open to permanent opportunities due to living cost increases?
• Huge increase in demand for operating model and business architecture capability as organisations look to realign their delivery framework towards a lean product-oriented delivery plan
• Continued rollout of digital customer journey enhancements is leading to further demand for Cyber security professionals across the market?
• An increase in skilled migrants entering NZ and this trend will continue to spike over the coming months.?

How to have a strong Q4

“Quarters don’t just happen, they’re made.”

Q4 can be stressful - the stakes are high. It is also a quarter full of (enjoyable!) distractions with holidays and celebrations. Everyone is feeling fatigued by this point in the year but there are still targets to meet and a good Q4 can set you up for a great Q1.?

In recruitment terms this can be an extremely busy period where time is precious.?

Our advice - streamline your recruitment process with a focus on keeping quality candidates engaged until a hire is made. We work with all of our clients to ensure that the touchpoints throughout the candidate journey are timely and meaningful. Be transparent with your communications, present a strong Employee Value Proposition (EVP) that will attract top candidates. Don’t wait to start identifying future needs: workforce planning to bridge skills gaps remains crucial in Q4 and will be the catalyst for a successful Q1 in 2023.?

In productivity terms, it is easy during these busy final months of the year to forget to provide feedback. However, with your team going the extra mile now is the time to acknowledge their efforts. A Businessolver study found that 93% of employees report that their employer recognising their professional accomplishments boosts their productivity. Calling out the wins will positively impact performance.?

We’re here to support you through this quarter and beyond. It couldn’t be more apt that the Māori word for Spring is Kōanga, featuring the word ‘kō’, a digging implement: spring is the time to dig the soil.?