Talent mobility puts pressure on retention strategies

by |

Ongoing global economic volatility and domestic economic challenges appears to be having less impact on New Zealand’s labour market which is displaying increasing movement, according to new research.

The latest Workmonitor survey by global HR services company Randstad found that:

 

  • The New Zealand Mobility Index had significantly increased from 102 to 112 which indicated that confidence was rising and more employees expected to be changing jobs in the next six months.
  • 70% of employees said they were satisfied within their current roles, with 60% focused on getting a promotion.
  • 65% of New Zealand employers had difficulty finding the right person for the job. Finding highly qualified people was particularly problematic while recruiting low skilled workers was not a big issue.
  • 63% of employees said their employer invested in training and education, while 56% said they were offered sufficient career opportunities.
  • 47% of survey respondents expected to see a shortage of highly qualified people within the next three years.
  • 40% of employees felt overqualified for their current job.

The changes and challenges in the economy meant skills shortages were still present, or re-emerging, in many industries, so finding the right people for the job was an ongoing issue for many organisations, Paul Robinson from Randstad New Zealand said. “Kiwis are now actively looking for other roles and employers must be aware of the risk of losing their talent. As finding the right people with the right skills is proving ever difficult, there needs to be a renewed focus on retention and development of key staff.”

The top reasons people stay with their employer were feeling secure in their job, working for a financially stable organisation, good work-life balance, an opportunity for growth and being well matched to their job, he said. “Knowing what’s important to people and communicating these features and benefits to current and potential employees will assist with successful attraction, retention, engagement and management of talent in the workplace.”

According to Robinson, employers looking to boost retention and build a successful relationship with their employees should focus on:

 

  • Creating an individual career path that enables each employee to grow and develop their skill set.
  • Providing genuine work-life balance via flexible work options.

 

Top News:

HR encouraged to step up to the Cloud

Feedback: the good, the bad and the ugly

Don’t put workplace loyalty in the history books (yet)

 

Most Discussed:

HR worst at leaving personal life at home

Pay gap due to lack of female applications

Should a hangover qualify as sick leave?

HRD Forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions