Salary Not The Only Reason Kiwi Workers Are Likely To Leave Their Job This Year

Auckland, 18 June 2024 – As Kiwi workers focus on how to progress their careers and stay afloat with soaring living costs, the 2024 Robert Half Salary Guide reveals only 43% of New Zealand workers are unlikely to look for a new job in 2024.

Even at a time when the number of online job advertisements continues to fall*, workers have cited they are open to new opportunities that can provide them with what they lack in their current jobs. About half (57%) of the surveyed office workers in New Zealand have indicated they are likely to look for a new job this year with 10% having done so in the first quarter of the year, 6% in the first half of the year and 37% plan on doing so throughout the year.

It’s not always about pay

There are a variety of reasons why Kiwi employees want to leave their job. Of the workers who indicated they are likely to leave their jobs in 2024, limited career progression opportunities and pay issues top the list when it comes to seeking new work.

While 43% of workers are sure they will stay in their current role, the top four reasons why workers are considering leaving are:

All generations in the workforce rank limited career progression opportunities as the number one reason why they would consider leaving their role, with Gen Z (37%) and Millennials (36%) most likely, followed by Baby Boomers (32%) and Gen X (25%).

Workers in large organisations more likely to stay put

The likelihood of employees leaving their jobs this year varies significantly depending on the size of the business they work for. While less than half (40%) of staff in SMEs plan to stay in their current role, almost two-thirds (62%) of workers in large organisations do not plan to leave their company.

“There is restlessness in the New Zealand workforce, with a portion of workers eyeing an exit as a result of long-term career goals not being met at their current employer and mounting cost of living pressures pushing employees to a job with higher pay,” says Megan Alexander, Managing Director at Robert Half.

“While financial compensation remains a key motivator for all employees, all generations take on a long term view and recognise the importance of developing their skills to future-proof their career and set themselves up for promotions and continued professional growth.

“The era of large pay rises is over. New Zealand employers are being more conservative with their salary increases due to cost pressures on their side, so while pay is a top priority for most due to rising cost of living, professionals should reflect on whether the grass is actually greener when seeking a new role in the current market. Today, changing jobs no longer promises a huge salary increment. Workers should seek alternatives either with their current employer or future company, exploring work-life balance benefits or career progression options that suit the need of both parties," concludes Alexander.

Key Findings:

• 43% of Kiwi workers state they don’t plan to leave their job in 2024.

• 33% list limited career progression opportunities as the single most important reason to seek a new role, followed by uncompetitive pay (22%) and the rising cost of living (18%).

• 40% of workers at SMEs have no plans to leave, while 62% of workers at large organisations feel the same.

*Jobs Online: March Quarter 2024, Ministry of Business Innovation & Employment, March 2024

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