State of the Market Q4 2023 by findrecruitment

STATE OF THE

M AR K E T QUARTER FOUR 2023

Kia ora, Just like that, the festive season is upon us at last. 2023 has been a huge year for many, and it's safe to say that the holiday break can't come soon enough for everyone. Quarter 4 has seen some changes at Find Recruitment with the election, a very slow labour market nationwide, and unforeseen circumstances (such as the election delay) severely impacting the market. We are, however, beginning to seen green shoots as businesses look to the future with a renewed certainty, following finalisation of the government coalition agreements, and a trajectory for the next 3 years. We were named as Runner-Up for the 2023 SEEK SARA's in the category of Outstanding Progress in Diversity, Equity & Inclusivity, and we won in two categories - New Horizon (Silver) and Small Business of the Year (Bronze) - in the inaugural Southern Cross Health Society awards. These awards from Southern Cross celebrate innovative and transformative Healthcare Policies, for which we're proud to say we are making significant strides. We are extremely honoured and humbled to be finalists in this alongside other phenomenal kiwi businesses. In this report, to round out 2023, you'll find a summary from each of our four teams, as well as the latest data that we have to offer. This is a combination of Find web-activity, data around job applications and submissions, and our new, extensive demographic survey data. We have kicked off this initiative in partnership with our friends at the PridePledge and the Gender-at-Work Community to better understand our market, and to better inform our clients around who their ads are reaching and speaking to. This year, we're continuing our trend of giving to those who are most in need and so our team in Auckland are spending a day with Gifts for Kids, wrapping hundreds, if not thousands, of gifts for children in need. We do this on behalf of you, our valued clients, and hope to bring some joy to disadvantaged children in Aotearoa. In particular given the ongoing cost of living crisis, we see this as more important than ever before. Wishing you a safe and happy holiday season, ngā mihi o te Kirihimete me te Tau Hou,

Find Recruitment The team at Find Recruitment

Spreading Chr istmas cheer, to those who need it most this year. In partnership with the team from Gifts for Kids NZ, we're proud to be donating our time and money to wrap hundreds of Christmas presents for children in need around New Zealand. Gifts for Kids, in association with Plunket, works with nurses in the lead-up to Christmas to identify the thousands of children who would otherwise go without a gift at Christmas. We, along with other volunteers, go along and wrap these gifts (some better than others) and share the Christmas joy. In the week leading up to Christmas, the Plunket team will take all of these gifts and distribute them to children nationwide. Rather than send our clients and contractors a Find branded mug, or a calendar with our faces on it, we'd rather do something meaningful for those less fortunate, which we're sure you can agree with! We're doing this in your name, and so thank you for all your support over the years and helping make this possible.

Accounting & Finance It has been ‘patchy’ but resembles years gone by pre-Covid where there’s a

Auckland Corporate

mix of candidates and roles. We have found a huge exit of the newly-qualified to recently-post-qualified Accountants heading to London due to pent up demand, & should this continue in to 2024 there really will be a missing gap in teams.

Kiri Brooks, Principal Consultant It was the year we thought it would be: slow in patches and busy at other times. It was inevitable after the dizzying heights of 2022 where we were in multi-offer land, with salaries sometimes at the top end of allocated banding giving little runway for future increases and counter offers to keep your talent. So what did this mean for us this year? Initially it was consulting with candidates on salary expectations (those 20-30% increases are so last year!), plus candidates being more conservative about moving due to a slight upswing in uncertainty with the economic climate and then partnering with our clients to introduce them to the best talent available in the market. This year has been like no other, in that most of our placements

Risk & Compliance/Finance A subdued start to the year led into a solid job market within the Risk, Compliance and Finance space. The major Banks have pulled back their recruitment significantly while Insurance, Private Wealth and Regulators have forged ahead. There is speculation on how the new government will adjust current regulation. I suggest that any change will create a further drive for candidates and that any hiatus in hiring intentions will be short lived.

were candidates we’ve known for years - the passive types who want to hear about things and always keep the door open for a discussion. Plus, referrals were coming in regularly which is always a nice compliment to see we've been referred!

Chris Martin, Principal Consultant

However, to get a bit deeper in the detail and split out the areas of specialisation,

Business Support

here's commentary from those heading them up:

In the lead up to Christmas we have seen an increase in temporary roles and From all of us here in Team Corporate, have a GREAT Christmas, a Happy New Year & a fantastic break! - Simon, Kiri, Chris, Amelia & Geena

a decrease in permanent roles, more so than in previous years. The increase in temporary roles is a stop gap to cover positions over the busy period with our clients telling us they are planning to do a large permanent recruitment push in the New Year.

Amelia Nelson, Team Lead

Auckland IT & digital

The final quarter of the calendar year has defied expectations, with the

However, the festive season is upon us, and 2024 is just upon the horizon. Looking

contracting market for Project Services showing resilience and continued growth.

ahead, optimism prevails for the first quarter of 2024 and beyond. There is a clear

2023 had one last spanner to throw in the works for us, and arguably a positive

indication that a number of large-scale programmes of work are poised to kick off

one, as contrary to initial projections of a slowdown, our recruitment services

in earnest, fuelling the demand for skilled professionals across various domains. This

have experienced a robust demand for contract roles, particularly in the Project

anticipated surge in project initiatives aligns with our clients' strategic planning,

Services domain. Additionally, there is a noteworthy trend in the recruitment for

creating a positive forecast for the recruitment landscape from March/April onward.

senior permanent roles, specifically in the form of Heads of various departments. The unexpected demand in the contracting market for Project Services, coupled Of the placements made in the last quarter in the Auckland IT & digital space, an

with a surge in senior permanent roles, has defied initial predictions of a slowdown.

impressive 83% were for contract roles, underscoring the sustained demand for

As we approach the end of the year, the proactive hiring strategies of clients signal

flexible staffing solutions. The majority of these contract positions were concentrated

a promising start for the new year. We remain optimistic about the recruitment

in the Project Services space, reflecting a strong demand for specialised expertise to

landscape, with the anticipation of significant programmes of work driving demand

drive and manage project initiatives.

for skilled professionals in the coming quarters. 2024 will be a year of meaningful growth for many businesses, and we look forward to being by your side every step of

In addition to the surge in contract roles, there has been a notable uptick in the

the way.

recruitment of senior permanent roles, especially Heads of various departments. Organisations seem to be strategically preparing for the upcoming year by securing

Merry Christmas to all. Enjoy your Summer, stay safe and we’ll catch you back in 2024!

leadership positions, reflecting a commitment to long-term growth and stability. - Pete, Dave, Sam, Sif, Channy, Suze, Esther, Ryan & Annabel Clients are displaying a heightened sense of urgency in their hiring decisions, aiming to finalise key positions before the year-end. This proactive approach indicates a desire to commence the new year with a fully staffed and capable workforce, suggesting a positive outlook for the industry as a whole.

wellington Corporate

As I reflect on the past year, it has been a

and the accreditation process has made it

wildly different market than we had gotten

harder for talented individuals to enter our

used to from years prior. With the talk of

waters. If you consider the staff you have

recessions and an economic downturn,

who have immigrated to Aotearoa and now

we have still seen a steady job market with

work for you, someone gave them a chance

things settling back into a normal pace

- and now I encourage you to do the same!

versus the chaos that was the extremity of

So my advice, take a shot. Don't fear the

the post COVID-19 boom.

unknown and know the accreditation process is not nearly as arduous as it

Facing the facts, we have certainly seen less

seems, and it can be navigated for you with

jobs that previous years, however, the roles

the help of immigration and recruitment

that have come through have been of high

professionals.

quality and well thought out which has been exciting for us and the candidates we

Reflecting on the year past, it has felt like

have been engaging with. New prospects

a long year for a lot of people. We hope

and advancements in role expectations

that over this Christmas period you get the

have helped the market remain dynamic,

chance to relax, to enjoy time with your

yet fiercely competitive.

loved ones and come back ready for a new year with new possibilities.

However, businesses are still facing a candidate-short market in 2024 which is

From your Accounting and Business team at

even more prevalent than it was in 2022.

Find Recruitment - we wish you a very Merry

(And we all remember how crazy that was!)

Christmas and a safe & happy New Year! We look forward to working with you in 2024!

My biggest take away for businesses from this year, as we head into the New Year,

Harriet Hrynkewycz

is not to shy away from hiring good talent

Principal Consultant

coming from overseas. The changes to visa

Wishing you a safe & happy holiday season.

- Mark, Julian, Rob, Harriet, Kendall, Danae, Olivia, Kelly, Linda & Donna

wellington IT & digital

As the year comes to an end it's important to briefly reflect on 2023 and the turbulent year that was! There is no hiding from the fact the I.T. recruitment landscape in Wellington has faced unprecedented challenges in 2023. The year started in Q1 as a candidate short market but quickly turned into a market flooded with candidates by Q4. The combined double whammy of strong economic headwinds and the general election which saw a change in Government, forced changes in our market we have not seen for many years. Despite these market changes, top talent is still in demand and it is those deep-seated industry relationships forged by our career recruiters that provide access to such talent. Employers are still hiring and if you are an employer in a position to do so, 2024 will be a great year to attract the talent you need. We’re here to help with your talent strategy! Despite a highly competitive and demanding market, our wonderful

Find IT Wellington team

persevered, adapting to the changing market conditions and have successfully navigated a way through 2023. A heartfelt thanks to our awesome clients who collaborated with us through these challenges. Your partnership and trust in us are integral to our success and we look forward to continuing this journey in 2024! Additionally, a special appreciation goes out to our contractors. Your hard work and commitment to our Client is greatly appreciated and we look forward to continuing our partnership in 2024!

- Nick, Josh, Sheronika, Rachel, Kylie, Adam & Mackenzie

Data & Analytics The following pages contain extensive data and reporting from our own systems and, where permitted, from our partners. This data is provided as a guide to the market, but does not guarantee or reflect the possible outcomes of job listings. Information enclosed may not be redistributed, amended or reproduced without express permission from Find Recruitment.

What is the biggest challenge you faced during the job application process?

Marketing Insights In our marketing space, we're seeing increased engagement, a large upswing in enquiries coming through from candidates, and extensive ad visibility and public awareness. Below we've highlighted some of our Analytical data for you to give you insight into the New Zealand employment market as it stands. We've also highlighted data from polls we've conducted of our audience, to showcase what

Crafting a compelling CV

27%

Convoluted application processes

27%

Preparing for Interview

24%

Negotiating Job Offers

22%

people are talking about and what's important to candidates in 2023. What's your favourite work perk? Website Activity | OCTOBER 1 TO PRESENT Ad Impressions

~650,000

Website Visitors

~11,000

Our website visitor gender spread stands steady at 61.7% female and 38.3% male. This

Flexible Working Conditions

61%

Pay Increases & Performance Bonuses

25%

Professional Development

Increased Leave

distribution reflects a balanced and diverse representation of job seekers actively participating in the job market. This contributes to an equitable and diverse recruitment

How often would you like to work from home each week?

landscape, highlighting the market's appeal to a wide range of candidates and employers. This data is based on freely expressed gender demographic information that is collated by Google, and currently only defined by Male and Female. In general, with ad engagement across our channels, female-measured engagement is significantly higher than maleengagement, with more clicks coming from female-identifying individuals.

Visitors by Country | OCTOBER 1 TO PRESENT 1.

New Zealand

~10,500

United States of America

~600

United Kingdom

~600

Australia

~300

India

~150

The largest portion of our website traffic is based in New Zealand, however we do also see some digital traffic from around the world. Our digital reach extends into most parts of the world, and we can target ads internationally as needed.

2 to 3 Days

64%

1 Day

13%

5 Days (i.e. entirely WFH)

12%

4 Days

10%

Our Top Ranking Pages 1.

/jobs

~25,000

/home

~11,900

/work-with-find

~10,000

/team

~4,400

/state-of-the-market

~2,500

users active on the Find website, on average, every minute.

our placement data Our placement data is collated and shared to you, to provide insight into the where and how of candidate movements. We are regularly in contact with thousands of candidates at any given time, and maintain strong networks for sourcing and placing talent into businesses like yours.

Job Listing Location

Oct to Dec 2023

Oct to Dec 2022

Wellington

52.63%

Auckland

44.74%

Wider New Zealand

2.63%

Listing Work Type

Oct to Dec 2023

Oct to Dec 2022

Permanent

49.37%

66.44%

Contract

40.93%

28.42%

Fixed-Term

8.02%

4.11%

Part-Time

1.27%

0.68%

Applications by Source

Oct to Dec 2023

Oct to Dec 2022

Find Recruitment Database

13%

20%

Find Recruitment Website

SEEK

79%

70%

TradeMe

Placement Location

Oct to Dec 2023

Oct to Dec 2022

Wellington

61.33%

54.43%

Auckland

38.66%

45.56%

Placement Type

Oct to Dec 2023

Oct to Dec 2022

Permanent

32.69%

44.10%

Contract

62.18%

51.53%

Fixed-Term

4.49%

2.62%

Part-Time

0.64%

1.31%

Placement by Source

Oct to Dec 2023

Oct to Dec 2022

Find Database

80.89%

77.19%

SEEK

18.47%

21.93%

TradeMe

0.63%

0.88%

Year on Year we have seen a dramatic increase in favour of contractor work, which is in line with earlier predictions in 2023. For the same period of time, YoY, Wellington saw an increase in share of placements whilst Auckland took a slight dip. Permanent placement-type roles took a dip Year on Year, giving way to a rise in Contractor and Fixed-Term - a trend that is still continuing at present.

What we have seen however is that despite a large volume of applications coming in through SEEK, we are finding the best applicants through our existing network of candidates in our database which maps over 10,000 exceptional individuals nationwide, and which is regularly updated and managed by our in-house Talent Management team.

Heading into 2024, we're optimistic that this should change trajectory, with an increase in permanent roles on the cards.

Candidate Ethnic Identity Based on the willing responses of candidates across roles recruited through Find Recruitment.

Understanding

OUR AUDIENCE To better support us and our clients in understanding the New Zealand employment market, we have started an extensive and detailed, yet non-identifying, data collection of our audience.

Category

% of Respondees

New Zealand European/Pākehā

34%

Indian

20.8%

Chinese

18.9%

Other, e.g. Japanese, Tokelauan

17%

European

5.7%

Māori

5.7%

Prefer not to say

5.7%

American

1.9%

Cook Islands Māori

Fijian, Samoan or Tongan

In partnership with our friends at the Gender-at-Work Community and The Pride Pledge, we have proudly taken the first step into understanding our candidates on a deeper level. All of this data is being collected

Candidate Gender Identity

freely, of the candidates' volition and is private so can not be matched to specific candidates, to ensure we

Based on the willing responses of candidates across roles recruited through Find Recruitment.

continue to combat bias in hiring processes.

Identifying Gender

We can collect demographical data for your specific roles going forward, so if you would like this done, please let your consultant know and once the job is filled we will survey all applicants to give you insight into who saw your role, and who applied!

Cisgender Male (my sex assigned at birth and gender identity are the same) Cisgender Female (my sex assigned at birth and gender identity are the same)

% of Respondees 49.1%

32.1%

Prefer not to say

9.4%

Gender Diverse

3.8%

Gender is not listed

1.9%

Non-Binary

1.9%

Trans Man

1.9%

Gender Queer, Intersex, Trans Woman & Takatāpui*

* Gender Queer, Intersex, Trans Woman & Takatāpui are all listed individually in our survey however are grouped to accommodate space in this report.

Candidate Location

Candidate Industry

Based on the willing responses of candidates across roles recruited through Find Recruitment.

Industry

% of Respondees

IT & Digital

34%

Accounting & Finance

26.4%

Professional Services

11.3%

Other

9.4%

7.5%

Technology

7.5%

Business Support

1.9%

Sales & Marketing

1.9%

Prefer not to say

Risk & Compliance*

Location

% of Respondees

Auckland

60.9%

Wellington

17.4%

Other

8.7%

Palmerston North

4.3%

Tauranga/Bay of Plenty

4.3%

Christchurch

2.2%

Hamilton

2.2%

Dunedin

Gisborne

Greymouth

Invercargill

Nelson

New Plymouth

Age Group

% of Respondees

Northland

30 to 40

37.7%

Prefer not to say

40 to 50

32.1%

Queenstown

50 to 64

13.2%

Rotorua

24 to 30

9.4%

18 to 24

3.8%

65 or older

3.8%

Prefer not to say

Location data based on the most common identifying centres of activity within Aotearoa New Zealand.

* R&C sitting at 0% as no data request has been sent, as of yet, for roles in our risk & compliance space. Candidate Age Groups Based on the willing responses of candidates across roles recruited through Find Recruitment.

Sexual Identity

Neurodiverse Status

Based on the willing responses of candidates across roles recruited through Find Recruitment.

Candidate Sexual Identity

% of Respondees

Heterosexual

58.5%

Prefer not to say

30.2%

Gay

5.7%

Bisexual

3.8%

Pansexual

1.9%

Asexual

Lesbian

Queer

Takatāpui

Identifying Neurodivergence

% of Respondees

Not Applicable

84.6%

Prefer not to say

7.7%

ADHD

1.9%

Autism

1.9%

Dyslexia

1.9%

Sensory Disorder

1.9%

Bipolar

Borderline Personality Disorder

Down Syndrome

Candidate Preferred Pronouns

Dyscalculia

Based on the willing responses of candidates across roles recruited through Find Recruitment.

Dyspraxia

Pronouns

% of Respondees

Epilepsy

he/him/his (masculine pronouns)

58.5%

OCD

she/her/hers (feminine pronouns)

32.1%

Other

Prefer not to say

9.4%

Tourettes

ia (Māori gender neutral pronouns)

they/them/theirs (neutral pronouns)

ze/hir/hirs (neutral pronouns

ze/zir/zirs (neutral pronouns)

Seek reporting data The following is the latest data we have received from SEEK, showcasing the state of the employment and hiring market in New Zealand. Across nearly all avenues, it is reflecting what we've seen throughout the year and is all in decline, or in a negative YOY position. Month-on-Month, Accounting did see a small increase (2%) in the listing of job ads across SEEK, but remains significantly down Year-on-Year. We are optimistic however, that with the New Year just around the corner, and the beginning of new routines, things will start to remedy and return to what we're used to.

Job Listings 2023 Based on data provided to us from industry-leading providers.

Month

National Job Ads

Applications per job ad

Month-on-Month

Oct-23 vs Oct-22

month-on-month

October 2023

-6%

-29%

November/December

Data TBC - Ask your Consultant at Find if you'd like to be

2023

updated once this has been received!

Job ad change by region

Top industries by job ad volume

A month-by-month review of regional listing data as provided to us from industry-leading providers.

A month-by-month review of industry data as provided to us from industry-leading providers.

Location Nationwide

October 2023 -6%

Year-on-Year | 2022 vs 2023

Month on Month

Year on Year

Oct 23 vs Sep 23

Oct 23 vs Oct 22

-6%

-28%

-7%

-28%

-2%

-24%

-4%

-39%

-8%

-29%

Hospitality & Tourism

-40%

Retail & Consumer Products

-5%

-34%

Accounting

-21%

Sales

-3%

-10%

Construction

-5%

-18%

Industry

-29% Trades & Services

N ORT H IS L A ND | T E IKA-A-MĀU I

Manufacturing,

Northland

-3%

-23%

Auckland

-4%

-33%

Waikato

-3%

-27%

Information &

Bay of Plenty

-1%

-26%

Communication Technology

Gisborne

-2%

30%

Taranaki

-27%

Hawkes Bay

-5%

-14%

Manawatu

-9%

-28%

Wellington

-6%

-30%

SOUTH IS L A ND | T E WA I P O U NA MU Tasman

-8%

-29%

Marlborough

-9%

-22%

West Coast

-22%

-27%

Canterbury

-6%

-27%

Otago

-9%

-27%

Southland

-11%

-27%

Transport & Logistics Healthcare & Medical

Administration & Office Support