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​With the job market on a strong rebound after the latest COVID-19 lockdowns and vaccination drive, the basic consideration in job hunting – the salary or hourly rate of a role – has re-emerged again as a top concern for candidates. Salaries and rates across a range of industries and jobs have significantly increased since 2020, as companies adjust to increased competition for talent. Although some employers are adapting well to changing expectations from candidates, others might need more guidance to understand what the playing field currently looks like. So, why is competitive pay important? I'll dig into some of the reasons below, and what you can do to ensure you're not missing out on the best candidates in a tight market. ​Savvy Employers Are Changing Their Approach to Pay In recent months, we've noticed a definite shift in employers' attitudes towards salaries for new hires. Clients have conveyed to us their understanding that a competitive salary will be more attractive to candidates and will increase the likelihood of a job offer being accepted. With this change in approach, I see more job offers coming in with a higher salary or hourly rate than the amount we submitted the candidate at. And the payoff is immediate – candidates have expressed their surprise and happiness when offered a higher figure and have quickly accepted the job. Even a $5,000 bump in pay can make a new hire feel extremely valued. You could liken these higher pay offers to a sign-on bonus. Designed to entice candidates, sign-on bonuses are lump-sum amounts, or a series of smaller amounts paid to a new hire over the course of a year. These bonuses are becoming more prevalent as talent shortages get worse in New Zealand and overseas. In the UK, for example, bus drivers are being offered as much as £4,000 to accept a role, whilst bonuses as high as $10,000 are reported in Australia. Employers' renewed willingness to exceed salary expectations is a refreshing change compared to recent years, when offers were frequently coming in lower than what candidates were expecting. This led to a number of candidates declining job offers, with many stating they had received a higher offer elsewhere. Top Talent Isn't Afraid to Walk Away Over Salary Whilst clients are now recognising the importance of leading with their best salary offer, some offers are still coming in below the salary the candidate is expecting. Unsurprisingly, going too low has a huge impact on the outcome – these offers are typically not accepted by the candidate. In these situations, candidates have expressed to me their disappointment and the feeling that their skills and experience aren't being fairly evaluated. Offering too low a salary can also make recruitment more expensive overall. Taking more time to fill a position adds operational impacts on the business, whilst hiring someone at a lower rate can create a temptation for them to leave the role as soon as a better-paying opportunity comes up. And, you risk creating negative word-of-mouth about your employer brand, which could make it harder to attract people in the future. Conversely, the companies offering above the expected salary are adding more sparkle to their value proposition, as candidates who have been offered more will tell their friends and family. In short, the pay you offer can affect your company's image – for better or worse. Arm Yourself with Data Market research is essential in this fast-evolving environment, as companies that understand current pay trends will be in a better position to negotiate the right figure with a candidate. We recently reported salary expectations bumping up by as much as $15,000-$20,000 for the same role compared to two years ago, so there is a high risk that some employers' offers are nowhere near the same vicinity as candidates' expectations. If your organisation appears to be lagging on salary expectations, having the right data equips you for making the business case to your executive team for increasing remuneration for a particular role. Talking to a recruiter about salary trends can help you get up to speed on current pay data and allow you to benchmark accurately. For an in-depth look at current pay rates, competitive salary examples and the factors currently attracting candidates to jobs in New Zealand, check out our Beyond Recruitment Economic & Labour Report 2021-22. The Takeaways ​A competitive pay offer is one of the key candidate attraction strategies available to employers. Companies that are willing to adapt to current market conditions will get the talent they need quickly, so be prepared to offer a bit more during this time. And in this talent-short market, speed is crucial if you wish to avoid losing a candidate to a competitor. Preparing your business with up-to-date salary data will help you move quickly on a job offer when you've found an excellent candidate. If you need specific advice on making a competitive salary offer or securing the best talent in the market, our team of Technology, Transformation and Digital recruitment specialists can help your business achieve its goals. Get in touch with me to find out more. ​

​Team UpdatesAs this year draws to a close, we have a few exciting updates for our Beyond Recruitment Wellington HR Dream team! ​Meet Yassmin ​First off, we’re thrilled to welcome Yassmin Lomeli, who’s recently joined us as our Resourcing Associate. ​Yassmin is originally from Mexico, where she previously worked as a clinical psychologist. An avid traveller, she has lived in Tanzania, Italy, Bermuda, the USA, and is now looking forward to calling New Zealand home. After the tumultuous events of the COVID-19 pandemic, Yassmin pursued a postgraduate degree in Psychology to keep learning and developing herself. In her free time, she volunteers with YouthLine, a charity organisation that supports young people throughout Aotearoa. Yassmin is super excited and proud to be part of Beyond Recruitment, an organisation committed and dedicated to working to benefit New Zealand and its people. Glad to have you onboard, Yassmin! ​Congratulations, Lily ​We’d also like to congratulate Lily, who has recently been promoted to Client Manager. ​Lily is the specialist recruiter in all HR Administration, Coordination, and entry-level Advisor positions, across the permanent and fixed-term markets. In her time, she’s built a strong pool of candidates across these areas. Lily has successfully helped several fantastic up and coming superstars this year and looks forward to recruiting the top talent our clients need to take their organisation further. ​Moving Forward ​Overall, we’re still experiencing an incredibly tight candidate market and we are continuing to draw from our well-established networks to source great talent. Our success through 2021 has increased demand for our services, which has resulted in the continued growth of our team. ​We anticipate 2022 to kick off quickly as many of our clients will, unfortunately, be leading into the new year with vacancies in their team. If you are struggling to attract the talent you need right now, we can help! Our expert team have developed targeted strategies to assist you with sourcing the top talent you need to lift your organisation’s brand in the market and are happy to help you find the people your business needs during this time.- HR Dream Team Wellington Julie Le Prou (julie.leprou@beyond.co.nz) Louise Pierce (louise.pierce@beyond.co.nz) Lily Pearson (lily.pearson@beyond.co.nz) Yassmin Lomeli (Yassmin.lomeli@beyond.co.nz)

​The past 12 months have largely been a period of economic recovery, with New Zealand on the whole faring better amid the pandemic than many of its global peers. However, businesses are now facing another major headwind that is having just as big an impact – a talent shortage. In our latest webinar, our CE, Liza Viz, introduced the Beyond Recruitment Economic and Labour Report 2021/22 supported by in-depth commentary from Economist Shamubeel Eaqub on the current state of the economy, the ongoing impact of COVID-19 and the trends shaping the New Zealand labour market. Below is a summary of the key takeaways from the session to help you pave a path to success both within the pandemic and beyond it. Lingering Disruptions We have learned so much as individuals, businesses and as a community since COVID-19 first hit, and a lot has improved since those initial few months. However, it’s important to keep in mind that disruptions will not go away any time soon, so we need to start planning for what happens next. Key Takeaways:In the early days of the pandemic, we had some hope that the vaccination would allow us to return to normal. However, with the rise of new variants, many countries outside the developed world remaining unvaccinated and the discovery that immunity fades over time, it’s become clear that disruptions are going to continue for some time. Rather than going back to normal, most countries with high vaccination rates are still running an ongoing restricted lifestyle. While we shouldn’t expect things to return to the way they were before the pandemic, that doesn’t mean the economy will be dire – the effective response from the government, organisations and individuals means New Zealand is in a relatively good position. A key area of disruption we will continue to see is in manufacturing and supply chains. While there has been a rebound since the initial onset of COVID-19, significant gaps remain, with the lack of inventory driving up prices and meaning that people are no longer able to purchase the goods they want, when they want them.The Economic Outlook The extraordinary amount of fiscal stimulus the government has injected into our economy is the biggest reason for New Zealand’s economic resilience, and many businesses and jobs were preserved because of support such as wage subsidies. As the pandemic continues to have roll-on effects over the next 1-2 years, we will likely see this continue. However, the stimulus we saw from Reserve Bank actually worsened existing problems and was largely misspent – most of it went to buying second-hand houses, but lending to businesses and farms fell. Businesses by and large have been cautious about taking on debt, but households have been borrowing large amounts for mortgages. This has brought a number of economic trends and consequences to the forefront. Key Takeaways:House prices have gone up by around 30% in the last 18 months. Houses cost more than five times the average household income in many areas of the country, making it increasingly difficult for non-homeowners to find affordable places to live.Despite worries that the government has borrowed a lot of money during this period, the debt is not enough to cause alarm. The extremely low interest rates mean the government can easily afford to keep borrowing to provide further support should the need arise. While there is talk that interest rates must rise in order to negate inflation spikes and wage increases, this inflation is not yet at a level where we should be concerned. High household debt means that even small increases in interest rates will have huge effects on affordability, but decreases will not make much of a difference. As a result, the Reserve Bank has become impotent in managing an economic crash. Moving forward, policy will play a much bigger role in economic management, with the government becoming a lot more interventionist in its approach.Intensifying Labour Shortages It is safe to assume that the New Zealand economy is going to continue to rebound after the pandemic, and for businesses to take advantage of this, they will need to have more people and more capital at their disposal. However, finding talent is becoming extremely difficult in the current market, with the demand for skilled candidates significantly outstripping supply. Key Takeaways:The migrant workforce has declined to almost nothing in the last 12 months. The number of people who are here on work visas is trending down and the anticipated “Brain Gain” did not eventuate, meaning our pool of available talent is shrinking. The demand for labour has skyrocketed, with much of it coming from the provinces and traditional sectors such as manufacturing, logistics and real estate. We should expect New Zealand’s previously more open immigration policy to flip, with very few people coming in the future, so employers must be prepared for the labour shortage to worsen. An increased focus on contracts and temps, training, hiring for potential, retention and long-term workforce planning will be crucial for businesses to continue accessing the talent they need.Summary This is just a glimpse of what was covered in the webinar – we encourage you to click below and view the recording and presentation slides to get a full picture of the economic insights.​​For a comprehensive look into how New Zealand businesses are adjusting to the current talent shortages, as well as the notable trends around salaries/rates within specific industries and occupations, click the button below to download your exclusive copy of our Beyond Recruitment Economic & Labour Report 2021/22.​If you have any questions regarding the webinar or report, or would like to find out how we can support you and your business during this time, please don’t hesitate to reach out.

We have now closed out the first half of 2021 and it’s hard to believe we are a year on from the original lockdowns. It is fair to say that this has been a busy period for many people across the country, with some exceptional swings affecting Human Resources recruitment over the last 12 months as shortages of both jobs and candidates have arisen at different times. Now, it feels like the HR market has gone into overdrive!Here at Beyond Recruitment, we are in a unique position to observe market shifts and the impact on employers across industries. To help you navigate this changing landscape and secure the talent you need, I have put together some key insights on current and future market conditions within HR, as well as my advice on how to attract the best people.Looking Back2020 was a challenging year both nationally and globally, and this resulted in serious pressure on organisations to reduce operating expenditure.Once we began to see the beginnings of recovery, recruitment activity appeared to be returning to some degree of normalcy towards the end of the year. After a quiet January, the impacts of reduced migration into the market became apparent, combined with the notable absence of the “Brain Gain” we were promised.The Current HR MarketThere has been strong recruitment activity across all industries as the demand for talent has begun to outstrip supply. Since the start of 2021, we have seen increasing demand across the country, largely in the operational levels of Human Resources.​​At the senior level, roles are still thin on the ground, although there is more movement in 2021 and there have been more roles available compared to 2020.We have seen a fast start to the year across permanent roles and fixed term contracts, however, by May this year, the demand for fixed term contracts and contractors soared, with less availability of permanent roles.Candidates, meanwhile, are looking for stability and security, with the candidate market being largely permanent focused. The majority of skilled people are in permanent roles and don’t have the risk appetite to move for a fixed term or hourly rate contract.This has put huge pressure on candidate availability, as we are now operating in a short skilled market. Nevertheless, many employers are somewhat short-sighted, and are not meeting candidates’ desires for permanent and long-term opportunities. The truth is that if employers want access to the best talent, they need to be offering stability and security.The next 12 monthsMoving forward, we can see no respite from this demand on the horizon. We are now going through a perceived economic recovery which will continue to drive demand. Major infrastructure projects are continuing at a rapid pace, housing availability remains low (particularly in Auckland) and the international supply chains are still facing major challenges.These issues, combined with the restriction of migration into the market and the possible “Brain Drain” of New Zealanders moving to Australia and other countries once borders open, all spell a famine on the candidate availability front.Growth within transformationIn this ever-changing business landscape, we have seen unprecedented demand across transformation as organisations look to realign their operation to meet the current market conditions – whether it be a more efficient supply chain, innovative technology or improved digital security. This, in turn, is creating a new industry from an emerging talent pool of candidates with cross-functional experience and exposure to multiple industries.Strategies for Securing Top HR TalentThrough all these challenges, some key trends are beginning to emerge in the war for talent.​​These factors are top of mind when candidates are considering opportunities in the market. The hiring dynamic has now become more focused on location, culture and benefits and less on salary than it has ever been, and clients need to put their best foot forward to attract top talent.The recommendation for securing talent in this market is to move quickly to present job offers, as skilled people will have multiple opportunities to choose from and employers who move too slowly will lose the talent to other offers. To make your offer compelling, it’s a good idea to make roles as long term as possible, and to provide a good benefits package and WFH options.Additionally, keep in mind that placing ads on job boards will no longer deliver a plethora of suitable candidates – the talent is passive and they need to be approached, so deep networks are key. You can find additional tips about how to attract high performers within a competitive market in this blog. If you’d like more advice on how to find the talent you need in the current landscape, feel free to get in touch – I look forward to assisting with your recruitment needs.