The new year is always an excellent time to establish your talent priorities for the coming 12 months, and take a look at trends in staffing and recruiting that will be relevant for your organisation so that you can plan accordingly.
LinkedIn’s Global Recruiting Trends report
, based on 4,000 talent acquisition decision makers’ survey responses, recently revealed a few of the key areas of focus for recruitment in 2016.
For the year ahead in New Zealand and Australian recruiting, LinkedIn found an overall emphasis on relationships – a common thread throughout the survey responses. Read on below for the most important trends and takeaways from this survey.
recruiting and employment trends
- Last year’s trend of focusing on the quality of hire has held constant as the best performance metric, and this measurement has even extended into employee retention. However, with the new organisational focus on employer branding as a way of attracting the top talent, the responsibility for quality of hire is now spread across several departments.
- The survey also found another continuing trend; the ever-widening gap between hiring volume and hiring budget. This isn’t expected to change anytime soon, and it’s definitely an obstacle to overcome for organisations seeking to attract talented candidates from high-demand pools. It also can pose a challenge for organisations that want to change their strategies.
- Social professional networks such as LinkedIn continue to grow as a source for top talent, with internet and internal company job boards on the decline. The study showed that these networks are also powerful for relationship building with potential candidates as well as the all-important employer brand. This isn’t expected to change: with 40% of survey respondents saying that the use of social professional networks is a long-lasting trend, and 62% praising them as effective for employer branding.
opportunities in the new year
The survey found that only 33% of leaders felt that they measure quality of hire in the right way, with Australian and Kiwi respondents well below the global average on the same question. Therefore, the establishment of metrics is a key opportunity for employers in our region.
Although recruitment remains top of mind, a strong focus on employee retention emerged in the survey as a top priority.
Internal recruiting remains a part of the overall strategy for those surveyed, but few companies have formalised programs. One opportunity businesses in New Zealand can seize in 2016 is to establish a well-defined internal recruiting program, including a focus on lateral movement for employees.
This survey certainly isn’t the first time we’ve heard about the importance of employer branding. It’s a trend that continues to grow, dovetailing seamlessly with the trend of hiring and networking using social professional portals like LinkedIn
However, successful employer branding is often the product of cross-functional teams, where HR and recruiting teams partner with marketing, and occasionally communications, colleagues. If you’re seeking to transform your employer brand, this key takeaway is a great place to start. To learn more about employer branding and insights around the most attractive organisations
in New Zealand, click here
As stated previously, the other thing to keep in mind with all of these trends is the thread of relationships that runs through them all. Open communication with candidates, partners, and existing staff is a great place to start – and review progress – as we approach the end of the year.
the new zealand labour force
In its November Quarterly Labour Market Scorecard
, the New Zealand Ministry of Business, Innovation and Employment
describes the overall state of our country’s labour market as remaining “robust, although momentum is slowing” with a rating of “Strong Employment Growth”, which in the past was driven by the construction sector, has been superseded by growth in the manufacturing sector. This demand is currently being met by migration-led population growth, although this does place pressure on the unemployment rate.
Statistics New Zealand
echoes these findings by projecting continued growth in New Zealand's labour force, driven by people working longer and a growing population. Kiwis, 55 and older are staying in the labour force, according to population statistics senior manager Vina Cullum.
New Zealand currently has 2.5 million people, both employed and unemployed, in its labour force. Although growth is expected to continue, it is projected to grow more slowly in the next 2-3 years. The labour force is defined as people aged 15 years or older who work more than one hour per week for pay, or work without pay in a family business, in addition to unemployed people actively seeking full time or part time work.
New Zealand’s skill shortage lists
remain a great way to establish a need for recruiting talented candidates from overseas. By making it easier to obtain working or resident visas for specific sets of skills, recruiters can pave the way to a deeper pool of candidates without all the paperwork of proving need on a case-by-case basis. To learn more and see if your company’s vacancies are on the current list of skills, click here
. The current list of skills in demand in New Zealand includes many engineering specialties, as well as procurement, film animation, and construction industry personnel. There are also a wide variety of medical specialties on the list.
, a specialised recruitment and HR services provider, delivers full recruitment services, as well as unbundled sourcing, screening, skills evaluation, and interviewing. We also provide payrolling, outplacement and transformation services. We focus on Accounting, Technologies (IT), Banking and Finance, Business Support, Contact Centres, and the Public Sector. We match top talent with organisations that will help them reach their potential, and organisations with the people that will help enhance their business growth.
To learn more about the New Zealand job market and projections for 2016, contact us today.