The market is still on the move, and candidates are receiving numerous offers, meaning that the employer who has the easiest process and reacts fastest to candidate interaction is more likely to succeed in hiring great talent.

A number of themes have emerged in the calendar year to date across all sectors we service that were more apparent in only a few sectors during last year; increased and inflated salary expectations and candidates have more options than ever before meaning under 30’s are eyeing up the UK as they have a looming timeline to get their specialist visa. There is a fight for talent in Auckland so we have seen a dramatic increase in demand for Contractors and flexible working opportunities (particularly for more junior candidates where travel expenses cut in to their salary). It is those candidates or employees that often comprise a large part of the team and so they’re more likely to join/align to an employer that is aware and supportive of these conditions.

However, clients are also feeling the fatigue and exhaustion of this ongoing labour market strain. Clients are busy with the hectic day-to-day, month-to-month activities of their businesses, with some having to deal with additional strains, such as resignations, counter offers, team members wanting out of sync salary reviews and a growing workload which keeps them busier than ever before.

Those that move fast win. This was true before the pandemic, and it’s even truer now. The client that moves the fastest is more likely to get the candidate accepting their offer, than the client that spends too long reviewing or prioritising processes that don’t favour a succinct and smooth hiring process. We frequently have candidates tell us that a smooth interview process over a short period of time (one week, two interviews or if more senior, two weeks, three interviews) rather than some long, elongated processes, gives them confidence in the functionality of the employer, and confidence to accept an offer once it is presented to them.  

Candidates in this modern market have so many opportunities coming their way, and many are watching how clients perform, to assess if they can see themselves as part of that business. We’re also seeing a greater degree of individuals who are warming up to the idea of changing jobs as they see others around them achieving their goals. Reacting to these opportunities quickly, can make all the difference in your hiring process.

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COMMENTS FROM AMELIA NELSON, TEAM LEADER, Auckland Corporate:

“In the last 6 months we have seen a drop on applicants across a wide range of roles. We are still able to fill roles, however there are less options and more of a fight for quality candidates. There has been an increase in salaries and a big push for candidates being available immediately.

One of the main reasons I have found candidates looking for a new role is they are wanting a hybrid role with WFH options more than at other levels. Covid has given employees a taste of a more flexible working life and now companies are requesting employees to return to the office full time, some are deciding this doesn’t suit them anymore.

With employees having to isolate due to Covid and being generally run down, this has caused even more pressure on teams so we have had an increase in contractor roles as a result.  

The other trend I have observed is candidates that have not been in the job market for many years are now considering something new and they have more options than ever before!"

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COMMENTS FROM CHRIS MARTIN, Principal Consultant, Auckland Corporate:

“Risk and Compliance is a very busy space with new legislation adding to the regulatory load. NZ has played catch-up to more Risk Mature markets, placing pressure on Teams and Institutions.  Everyone has been stretched. Insurance and Private Wealth have been the growing theme of vacancies this year while the Banks have been quieter. The latter having added headcount significantly last year.

A dominance of Line 2 roles (the architects of processes) in 2021, have made way for Line 1 (the implementors of processes) in 2022. Interestingly, many vacancies have been newly created positions.

If you are a client recruiting, you will have noticed Candidate Advert Response has reduced to very low levels. Most recently, I am seeing an increase in international candidates, mainly from South Africa.  Many require a job offer with Visa Processing times being touted as 2-3 months. Improving these processing times would be a welcome improvement to the industry!

Salary increases have been c. 15%. Stagnating salaries have become a primary reason for candidates to consider a move. Work flexibility is a must for any potential employer and is often one of the first points made during conversations with prospective applicants. Most clients offer a hybrid office/home working model with a recent swing towards more time in the office than out. Shortages are seeing contracting trend up after this area stalling last year. Rates are now more aligning with the high paying IT sector.”

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