More than a fifth of Kiwi companies said voluntary staff turnover was on the rise – but why? One recent survey claims to have the answer.
“The increasing number of resignations shows that New Zealand’s job market is delivering the opportunities its workforce seeks,” says Jason Walker, managing director of Hays in New Zealand.
“People can see the positivity around them and know that demand is increasing for highly skilled professionals,” he added.
Hays business director Jonathan Greening agreed.
“Candidates are moving because they see the market has more positive opportunities and as an organisation you need to be able to create and then market those opportunities to attract good staff,” he told HRM.
The recruitment agency recently conducted a national survey which revealed voluntary staff turnover has risen in 23 per cent of New Zealand organisations over the past year. Conversely, just 12 per cent of the 419 organisations reported decreased staff turnover during the past 12 months.
“Fundamentally, it means change,” said Greening, when asked how the increased movement was going to affect employers.
“Change is both disruptive and creative so more agile organisations take advantage of change whereas less agile companies sometimes suffer,” he continued.
Greening also warned that less agile organisations risked losing valuable intellectual property when workers leave as well as increased recruitment costs and lost revenue while the role was unfilled.
“The positive side of it is, one company’s loss is another’s gain,” he added. “So organisations get fresh ideas, hopefully a new motivated team member, and then the opportunity to grow their business.”
Similarly, Greening said the increased mobility provided a perfect opportunity for employers to promote junior employees or train them to have more responsibilities.
“The rising tide lifts all boats so as people move it creates opportunities for perhaps more inexperienced staff to take on more responsibility,” he told HRM.
He also urged employers to leverage the current employment landscape to create a more diverse workforce.
“I think there’s an opportunity as more people move to create a more diverse workforce,” he said.
For all the latest HR news and info straight to your inbox, subscribe here.
More like this:
$40K fine for bullying employer
Mayoral candidate makes Living Wage pledge
UK’s potential PM embroiled in false CV claims