Kiwis chasing more money

Media release
Kiwis chasing more money

Auckland, 19 December, 2011: Kiwis are chasing more money with over two thirds (68%) believing their salary doesn’t accurately reflect their performance and half (50%) are expecting a pay rise over the coming months, according to a report commissioned by leading specialist recruitment & HR services company, Randstad.

The quarterly Randstad Workmonitor report tracks jobseeker confidence and provides a comprehensive understanding of job market sentiment and trends relating to the employment market. The Q4 findings just released show New Zealand workers' expectation of a salary increase is only slightly higher than those across the ditch (46%) in Australia.

Furthermore, over half (54%) would be willing to move overseas for a better paid job, compared to Australia (47%) and the UK (48%).

Director of Randstad New Zealand, Paul Robinson, says these results highlight the need for employers to engage with staff and reward them for their hard work.

“With challenging business conditions and an air of uncertainty over the last two years, employees have been working harder, longer hours and for the same pay, as pay rises have been few and far between.

“As a result employees have remained with their employer until they see the market open up. Employers who want to retain their strong performers and keep staff engaged, need to ensure their people are recognised and rewarded for their achievements and efforts, otherwise you may see them walk out the door in the coming months.

“Results from Randstad’s Workmonitor report reinforce these observations, as New Zealanders say they want to be rewarded for their performance, so clearly there is a gap, and a lot of work to be done on the employer’s behalf.

“Also what’s interesting is the Q4 result from the Workmonitor Mobility Index reveals Kiwis are less actively looking for a job over the next six months, with the index dropping marginally by two points this quarter to 105.”

Mr Robinson says this result again reflects the air of uncertainty currently in the market and a sense of people making the most of where they are at in their career.

“However, talking to businesses across all sectors, we sense that 2012 is looking set to be a positive year, with an increasing number of job opportunities in the pipeline, albeit in a tightening candidate market. Once people feel more positive and start seeing the opportunities available, the market will open up.”

Other findings from the Workmonitor report reveal six out of ten (61%) New Zealanders expect to work beyond their official retirement age with 58% happy to work a further two years beyond their official retirement age.

More Randstad Workmonitor statistics

The fourth quarter Randstad Workmonitor results also found:

- 33% of workers changed jobs for better employment conditions
- 30% are not satisfied working with their current employer
- 48% said 2011 was a difficult year for their organisation
- 48% said 2011 was a good year for their organisation
- 66% expect 2012 to be a better year financially for their organisation than in 2011
- 36% expect 2012 to be a more difficult year financially for their organisation than in 2011
- 56% expect to have more disposable income in 2012 than 2011
- 42% expect to have less disposable income in 2012 than 2011

New Zealand joins 30 countries across the world in the quarterly Randstad Workmonitor research. Workmonitor is significant to New Zealand as it highlights local and global trends.

ENDS

A complete press report, including detailed country differences, is available on http://www.randstad.com/press-room/research-reports

About the Workmonitor Research

The Workmonitor’s Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, also employee satisfaction & personal motivation, as well as a rotating set of themed questions are part of the survey. The study is conducted online among employees aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). Minimum sample size is 400 interviews per country. The Survey Sampling International (SSI) panel is used for sampling purposes. The 4th wave of 2011 was conducted between 24 October and 14 November 2011 in the following countries:

About Randstad

Randstad is a Fortune 500 Company and one of the world’s largest HR services providers, specialising in executive recruitment, HR Solutions and temporary and permanent staffing across a wide range of specialist industry sectors and professions. The Randstad Group employs more than 520,000 people every day with the aim of taking the lead by shaping the world of work. Visit www.randstad.co.nz for further information.

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