Employment is on the increase and unemployment on the decrease - is your business on the up?
Latest Government statistics show employment increased 3.7% annually and unemployment rates fell to 4.5% in the December 2017 quarter.
While this indicates overall positive employment growth for New Zealand business, Executive Recruiters EQ Consultants are encouraging organisations to seek professional advice to ensure successful workforce planning and recruitment of the right skills.
What the results say
According to Stats NZ, the unemployment rate is the lowest since the December 2008 quarter, when it was 4.4%.
Of New Zealand's 3,843,000 working population, 2,605,000 are employed (up 12,000) and 122,000 unemployed (down 4,000). Nearly one-quarter of employment growth came from the 25–29-year-old group, while just over one-fifth came from the 30–34-year-old age group.
Over the year, employment growth, as measured by the Household Labour Force Survey (HLFS), was highest in the professional, scientific, technical, administration, and support services industry, up 8.5% (25,900 people).
Opportunity for growth
The latest results show positive growth for firms around the country, especially since the unemployment gap continues to close.
Principal Consultant at EQ Consultants Steve Kennedy said: "Here at EQ Consultants we have seen a significant increase in executive recruitment of skills required in various industries, particularly scientific and professional organisations across Christchurch, Canterbury and beyond.
"This positive change reflects stronger markets and more demand for services, presenting fantastic opportunities for business growth. These opportunities create exciting and challenging times for business owners and managers as they transition into new territories.
"It is at this stage we recommend businesses work with specialists to implement a workforce planning strategy. This is key to ensuring the business sustains growth efficiently whilst continuing to deliver high standards and meeting company objectives. It is important to remember that 'just-in-time' recruitment is a reactive response, whereas a proactive approach to workforce planning is absolutely essential."
EQ Consultants Executive Recruitment Solutions
EQ Consultants provides tailored Executive Recruitment solutions for businesses of all sizes at various stages within their cycle. From finding and placing the senior skills you need, to helping you prepare for the future - we'll help you every step of the way.
For more information or to discuss your business's requirements call Steve Kennedy on 021 223 2850 or email firstname.lastname@example.org