STATE OF THE MARKET
QUARTER ONE 2024
Kia ora,It's 2024! The year has started with a bang, and everyone is re-energised and excited for a busy year ahead. Summer has been kind to us this year and brought us beautiful weather across the nation, even if the heat has caused some complications with public transport in Auckland.
Sentiment across the market remains consistent with 2023. Businesses are still cautious, things remain in a state of early growth and candidates continue to fill the market. However, we're optimistic heading into 2024 that things will begin to correct. 2023 saw an incoming coalition government that struggled to find its feet, however with the runway of 2024 lying before them, things will start to get a bit of traction and motion behind them.
At Find, we're engaged and rejuvenated from our respective holidays over the summer period, with some of our team taking up to a month at the beach, some opting for city stays and others travelling abroad! We are well positioned, and well primed to support with all your recruitment needs.
We've hit the ground running this year with the release of our AI Salary Bot on our website which provides on-demand information regarding salaries in the market, and have recently launched our Hiring Guide for 2024, to help you navigate any challenges the year ahead may present.
For this edition of our State of the Market, we're going concise. Information you need, some tidbits that you may find interesting, and a plethora of data to help inform your hiring decisions for the next 3 to 6 months. We look forward to chatting with you further, and supporting your recruitment needs this year,
On behalf of the Find Recruitment group,
Simon Rooney Simon Rooney, Director of Auckland Corporate
Have confidence conducting business. Use an RCSA member.
Every profession needs accountability. Boundaries, ethics and trust are priceless, and reputation is everything. Unfortunately, over the past 12 months the reputation of New Zealand’s Recruitment and Staffing Industry has taken a hit. Towards the end of last year, disgraceful allegations of the mistreatment of migrant workers in Auckland surfaced. This abhorrent exploitation has left a stubborn stain on the labour hire industry. It will take time and education to wipe it out.
The fact is, most recruitment and staffing firms, strive to do the best for both their clients and candidates and if they are RCSA members, they are bound by a code of professional conduct and required to operate with the highest integrity.
RCSA is the only peak body for Recruitment, Consulting and Staffing in both Aotearoa New Zealand and Australia. It represents more than 1400 Corporate and Individual Members, promoting and facilitating professional practice in recruitment and staffing. Its members are expected to set the benchmark for industry standards and the Association supports this expectation by providing education, training, research and advisory support. It is all underpinned by the RCSA Code for Professional Conduct.
The objectives are simple.
• To promote excellence, enterprise, and integrity in the businesses of all members and of individuals engaged by those businesses.
• To improve knowledge and skills with respect to their responsibilities, duties, and rights in the Workforce Services Industry.
• For businesses and candidates who have reservations about engaging or working with a recruiter, it is advised that they choose an RCSA member to mitigate any risks. RCSA members must always behave professionally and have a duty to operate with transparency. Exploitative and unethical behaviour is not tolerated.
The RCSA community is guided by core values. Members are to be committed to growth and helping others by doing good business. These are the values of RCSA members, who commit to lead in the world of work:
1. They genuinely champion professionalism.
2. By committing to a code of conduct, they uphold ethical standards and practice mutual accountability.
3. They value diversity, equity, inclusion and belonging, with people are at the centre of everything they do.
4. They are stronger together.
As a community, RCSA members celebrate each other’s successes and build each other up through networking events and collaborative working groups. To be part of RCSA means to be brave enough to call out poor practice and hold others accountable.
Members are committed to improving the industry’s reputation by stamping out unethical behaviour. It makes engaging an RCSA member the safest option for businesses and candidates.
We're proud to be part of the RCSA!
The RCSA connects us to the recruitment community of Aotearoa, enabling us to be at the forefront of changes in the employment industry. As members of the RCSA, we're connected to other agencies and are able to be part of a wider group that embodies the morals and codes of conduct that we hold.
The RCSA celebrates the excellence of the New Zealand recruitment industry, on an annual and ongoing basis. Large-scale award ceremonies, sell-out sessions with industry leaders, and regular digital courses are all part of the parcel, giving our team direct access to the best and brightest of the employment world.
Being part of the RCSA is in our DNA, and helps us to continue delivering excellence to the amazing public and private organisations that we work with! When you work with a consultant at Find, you can rest assured that you're dealing with someone who has the highest professional standards! RCSA Awards 2021
RCSA Awards 2022
Have confidence
Choose a member of RCSA.
The year started with a surprise – roles got called in! In keeping with the trend from last year, they were primarily Contract and Temporary opportunities that we were able to assist with. We saw a steady rise in contracting/temporary recruitment requirements in the Business Support, Risk and Accounting areas in 2023 that has tipped into 2024. This is in contrast to permanent recruitment where clients remained reluctant to hire. For some, because they possibly over-hired (and overpaid?!) for the year that was, while other clients came off the back of a tough year and with a dose of uncertainty have played a game of hold.
Can we expect more in 2024?
In the micro-climate of observation from Find Corporate, based on our market interactions and feedback, can we expect more in 2024? Well, it depends where you’re sitting and what company you’re sitting in! We’ve had feedback that is more contrasting than ever before, with some saying yes, others saying no, and others entirely unsure!
With this diverse client base we are fortunate to partner with, some clients are feeling confident, and some have seen an upswing in business, whilst others are understandably cautious. In the Accounting, Business Support, and Risk recruitment market, it’s a client-led market right? Well, yes and no - it's more in the centre at the moment. While our applications to roles have spiked to levels we haven’t seen at the Find Megabase since 2021, it hasn’t transcribed in to a bump in quality.
Why is this?
In context NZ Inc is a small, small place. Any drain of the talent pool can have a significant effect.
• Australia is still a major beacon in the night for many seeking higher pay and a lower cost of living. Put simply, we keep losing great talent to the 'greener grass' (droughts excluded) of the land down under.
• London still appeals to the young (and young at heart). We know from two of our lovely formercolleagues that London clients have switched from being focussed on permanent hire to contract hire, playing right into the requirements of us Kiwis.
We did see candidates applying for roles perhaps a step above their good experience. This may have worked in 2022 which was a more buoyant year, and hey why not, you have to admire the ambition but 2023 rolled in and there was a collective correction to the job market.
So, the next 6 – 12 months?
The crystal ball gets cloudy the further away we are, from when you read this (if you’ve made it this far – I thank you) as there are some BIG international things happening that could mean all bets are off.
The tide does appear to be coming back in for 2024, we’re feeling overall positive about it and while it may not hit previous high tide marks we think 2024 is a year of being back to normal and into positive territory. I like normal. I like positive – except for a covid test.
We started the year off strong with a planning day out on the beautiful waters of Waitematā harbour, thanks to Explore Group NZ. We're well placed to support your business (and sailing) needs in 2024 & beyond!
The weather this summer, for the most part, has been exceptional. A stark contrast to the lack-of-summer we experienced in 2023 - a sentiment that seemed to carry through all sectors. 2023 was a tough year, with much indecision and hesitation around a poor performing market that was stubborn and unmoving.
However 2024 seems to be starting steadily. The current tech recruitment market is job-driven. Over-hiring, an influx of overseas talent, softer economic conditions and company restructures have made a lot of tech talent available. A job-driven market, where the power lies with employers, presents both challenges and opportunities. Companies will see an increase in applications to job advertisements which will require additional resource to sift through applicants and find the gold nuggets. Remember, in a job-driven market, the candidate experience still matters. By taking steps to attract, engage, and retain top talent, you can navigate this market successfully. The best candidates in a niche are still getting multiple offers. We’re seeing more contract work than permanent roles in Auckland. This is being led by our clients who are embarking on multiple transformation streams.
From the conversations that we’re having with our client base, we expect more jobs to hit the market in the short to medium term. If you are looking to hire in the short term, we suggest getting in early before competition ramps up and it becomes a candidate led market.
We're also thrilled to be welcoming Susanna Dyson back, who is returning to us from parental leave!
Suze will be back on deck from 13 March 2024, and we know she is excited to continue helping you find the talent you need to succeed.
Welcome back Suze!
Kylie Brocket Recruitment Consultant
Harriet Hrynkewycz
Principal Consultant
