NZ Finance Job Market to Enter Stable Period

NZ Finance Job Market to Enter Stable Period

New Zealand’s finance and accounting job markets will enjoy a level of stability over the next 12 months, with employer demand for new staff matching the number of candidates available. That’s according to a survey from global recruitment specialists Robert Half International.

Robert Half asked those in finance and accounting companies responsible for hiring and recruitment if they planned to increase or cut staff over the next 12 months. Almost three-quarters of the New Zealand respondents said they plan to keep staff at around current levels, the highest in the Asia-Pacific region at 71%. This indicates a degree of stability in employment relations in the next year, with neither employers nor candidates having a significant advantage in hiring negotiations.

The idea that employers had the upper hand when hiring new staff during the recent recession doesn’t stack up, said Megan Alexander, New Zealand general manager of Robert Half International.

“Last year was actually hard for employers recruiting for good people, as quality staff tended to stay in safe jobs with companies they knew would look after them,” said Alexander. “Contrary to what everybody thinks, employers still aren’t having a great run of it when identifying good candidates. Any pick-up will make life easier for them as employees will start thinking about moving to new positions.”

But candidates would be wrong to think an upturn in economic growth means they can dictate terms to future employers.

“Nowadays, it’s only the absolute top talent that can go to companies and negotiate better terms. Those average candidates on the periphery can’t, and that reflects that employment relations are normalising,” said Alexander. “The hiring process works best when there is an even-keeled approach to hiring, when employers and candidates can meet on equal ground.”

While New Zealand’s economy has enjoyed three consecutive quarters of growth, unemployment has continued to rise, raising questions about the strength of the recovery. Alexander warns against the temptation employees may feel to sit too long in comfortable, though unrewarding positions while they wait for the external situation to improve.

“Some employees do risk staying too long in the same job and need to think about moving on to fresh pastures to develop their careers, gain different experiences and develop new skills,” said Alexander. “Staying put demonstrates your ability to keep a job in a recession but doesn’t always develop your professional capabilities.”

So how long is too long? Alexander says a junior level clerk, or similar position, can remain in a job for about two to fours years before they should go out to seek fresh challenges. For more senior people, three-to-six years in the same job is fine, but any longer may signal the employee is not interested in the development of their own career.

But what about those who haven’t been able to find any work during the recession, other than temporary roles? Alexander says that while many talented individuals have been made redundant during the recession, some have managed to pick up temporary work while continuing to look for their ideal permanent position. But even the search for temporary work has been very competitive during this period. So those who have managed to pick up temporary work during these difficult times should be recognised as superior talent, as many individuals have been now without temporary or permanent work for many continuous months.

“Employers shouldn’t discount candidates who have been temping between jobs,” says Alexander. “As long as people have been working in their field, even if it is temping, they’re well worth considering as it shows they’ve managed to stay in the area they’ve trained for even when times were tough.”

The Robert Half 2010 Workplace Survey questioned 1,281 finance, accounting, HR and executive-level managers from New Zealand, Australia, Hong Kong and Singapore. It was carried out in February and March this year.

ENDS

© Scoop Media