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March 2023: Reflections on the Last 3 Months and the Employment Market Ahead

​Is it Xmas yet?! I think we can all agree that the last 3 months has been one of the longest, most unexpected, unpredictable and economically slightly better than expected start to the year EVER. With the cherry on top being most of us have not had a decent holiday…. yet?!! I don’t know about you but I’m planning a few great holidays up north in the caravan with the family and a lads trip to the Great Barrier – I know myself, I really need a break!!

I’ve been inundated with questions over the employment market over the past few months and whilst it was a slow start to the year – I can say that roughly 95% of my clients are pleasantly surprised by their workloads (despite the doom and gloom of most media outlets). There is no question, things are harder, money is tighter – but here’s the silver lining – there is a WORLDWIDE talent shortage and still record levels of unemployment here in NZ.

The other positive news, GDP has fallen 0.6% for the December quarter, giving us all some level of comfort that perhaps the bottom is near - so that begs the question, how much worse can it get? Is it that bad?

A recent survey by ELMO HR said that two thirds of kiwi companies expect their workforce to GROW in 2023. I think this shows more optimism than any media outlet will let us know – this also resonates with 90% of our clients. Sure, banks going under is a concern in the US/Europe – yes, it’s harder times – BUT have we got a GFC on our hands or have those lessons been learnt and we’re now able to avoid going off a cliff?

All I know is that in my world, opportunities are out there, great people are always in demand and great companies will take market share in these times. Of course, it’s sad to see redundancies starting to happen in certain businesses and market verticals, but that’s always happening in any market - only there are more published nowadays.

On the bright side, tougher markets force us to get better – we strive to improve, raise the bar, scrutinise wastage and get closer to our clients – something we’re truly passionate about. This year for us is about IMPROVING, not fearing our weaknesses but simply growing our capability and effectiveness, our market share and continuing to work with great companies that value GREAT people. Lastly, a BIG focus for us this year is putting our own wellbeing first before anything else, so we can perform at our best.

Bring on the Easter holidays, we’re almost there – look after yourself and your teams.

P.S. don’t forget we recruit Corporate Services, Sales Marketing & Tech / Digital, who do you know that we can help!?!