Kiwi finance professionals Asia Pacific’s happiest

Kiwi finance professionals Asia Pacific’s most satisfied

Two-thirds of New Zealand finance and accounting professionals are satisfied or very satisfied with their salary packages, the highest in the Asia Pacific region, according to a new survey from global recruiters Robert Half International. Respondents in New Zealand were also the most loyal to their employers compared with those in the other four Asia Pacific countries surveyed.

In the latest Robert Half vodcast, Robert Half’s Managing Director for Asia Pacific, David Jones, said the high levels of satisfaction amongst Kiwi employees is likely due to the Small and Medium-sized Enterprise (SME) business model and working culture that dominates working life in New Zealand.

“More employees are satisfied in New Zealand than any other country we surveyed,” said Jones. “That’s indicative of the fact that New Zealand is dominated by a SME marketplace and those people that were retained in their jobs (during the downturn) were well looked after in terms of their remuneration level.”

The Robert Half 2010/2011 Finance & Accounting Salary Survey, which surveyed professionals in Australia, Japan, Hong Kong, Singapore and New Zealand, found that 67% of finance and accounting staff in New Zealand are satisfied or very satisfied with their current salary package. The average across the region was 54%, which matched the level of satisfaction across the Tasman in Australia. Fifty-five percent of New Zealanders surveyed said they believe their salary is fair and in line with the market. Again, that’s the highest in the region, with the Asia Pacific average at 48%.

Jones notes that salary is just one factor in the overall satisfaction levels of New Zealand employees. Anecdotal evidence suggests that, on average, urban Australians take much longer getting to work than urban New Zealanders. House prices are typically lower in New Zealand and mortgages are easier to service as interest rates are also lower. Australian official interest rates have risen six times since early October and are now at 4.5%, compared with just one increase in New Zealand to 2.75%.

Loyalty rates in New Zealand were also the highest in the region. Fewer than half (46%) of Kiwi finance and accounting respondents said they feel that it is necessary to switch jobs in order to secure higher pay. This is lower than the APAC average (55%) and considerably below those in Hong Kong (65%) and Singapore (72%).

The same SME culture that engenders employee satisfaction in New Zealand is also spurring confidence that companies will grow in the months to come. Robert Half asked middle managers or people with hiring responsibility in the finance and accounting sectors, if they were confident in their company’s growth prospects. Some 87% in New Zealand were somewhat or very confident.

Employee sentiment has “changed dramatically in the past six to nine months”, said Jones. ““Because there’s that SME marketplace, things can bounce back pretty quickly. It’s a very entrepreneurial working environment and culture. People are very optimistic about growth opportunities in New Zealand.”

The Robert Half 2010/2011 Salary Survey questioned 2,599 finance, accounting, HR and executive-level managers from five countries, including 585 from New Zealand. It was conducted by an independent research company in March and April this year.

The Robert Half vodcast on its 2010 Asia-Pacific Salary Survey, and results for New Zealand, is available for download at http://rhiwatch.viotv.com

To order a copy of the Robert Half 2010/2011 Salary Survey, click here:
http://www.roberthalf.co.nz/salary-guides?cid=salaryguides:various:ReleasePR

ENDS

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