jobseeker confidence drops as economy faces challenges: Q3 2015

jobseeker confidence drops as economy faces challenges: Q3 2015
Jobseeker confidence has taken a sharp drop in 2015 with the Randstad Mobility Index, easing nine points in the first three quarters of 2015, following signs of challenges in the New Zealand economy. 

The Mobility Index, which tracks employee confidence and captures the expectation of workers considering a job change, is undertaken quarterly by HR and recruitment specialist, Randstad. Results from the third quarter show employee confidence has decreased from 108 to 99 in the first nine months of 2015, the lowest point since the height of the global financial crisis, mid-2010.

While the drop in the Mobility Index is significant, the findings don’t necessarily tell the full story, says Director of Randstad New Zealand, Brien Keegan.

“There are two sides of the coin when it comes to the New Zealand economy currently.  While the regional economies face some hurdles, such as falling prices at dairy auctions and the overall outlook appears challenging, the main centres remain strong. They continue to grow and people feel confident, all of which is spurred on by strong infrastructure spending and record high-levels of economic activity in services (which tend to be concentrated in the cities). 

“Certainly, some Kiwi workers are thinking about some of the challenges facing the New Zealand economy presently, which is reflected in the Mobility Index.  However, employers shouldn’t be lulled into a false sense of security. Jobseekers in the cities are feeling confident and are likely to be considering their employment options,” says Keegan.

“We commonly find that employees, with time to reflect over the Christmas and New Year period, think about their current job and the direction their career is heading. This typically results in a flurry of resignations as people return from their holidays, determined for change.

“In an effort to avoid this potential turnover, managers should not be complacent and take the opportunity to ensure that the needs of their workers are being met.  We would encourage managers to conduct ‘stay interviews’, which are basically one-on-one ‘check-ins’ with staff to gauge their satisfaction and why they would like to stay with their current employer.

“By taking the time to check-in with your staff before the holiday break, you are signalling to employees that you value their contribution and want to make an effort to see them return, happy and rested. A word of warning though, while stay-interviews can help, it won’t make up for a year of not paying attention to the needs of your workers,” says Keegan.

The number of employees in New Zealand who actually changed jobs in the last six months was 15% (compared to 19% last quarter). The appetite to change jobs remained steady in Q3, with 25% of respondents indicating they were looking or applying for a new position compared to 26% in Q2.

Despite this job satisfaction remains high in New Zealand on 75%, more than 8% higher than Australia (67%) and a 5% increase from last quarter.




The quarterly Randstad Workmonitor and Mobility Index

The Randstad Workmonitor is published quarterly, covering 33 countries around the world, making both local and global trends in jobseeker confidence and mobility visible over time.

The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International Research for Wave Three was conducted between July 20 and August 4, 2015.


About Randstad

Randstad is one of the world’s leading recruitment & HR services specialists, passionate about matching people with organisations that will develop their potential and matching organisations with people that will take their business to the next level. The Randstad Group employs over 560,000 people every day with the aim of 'shaping the world of work'. For further information visit www.randstad.co.nz.
Posted: Monday, 30 November 2015 - 7:22 AM