ManpowerGroup Employment Outlook Survey Reveals Hiring Expectations Plateau As NZ Employers Hold Off On Growth Plans
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ManpowerGroup Employment Outlook Survey Reveals Hiring Expectations Plateau As NZ Employers Hold Off On Growth Plans
Employers across NZ are holding off on making firm growth plans, as new waves of financial uncertainty circle the globe, according to the latest ManpowerGroup Employment Outlook Survey released today.
The survey of over 640 New Zealand employers indicates hiring intentions for the next three months have stalled. The seasonally adjusted Net Employment Outlook is at +16%, a slight decrease from last quarter (at +17%). Both the number of employers planning to either increase or decrease headcount have remained consistent (at 22 percent and seven percent respectively).
According to Mr Chris Riley, General Manager, ManpowerGroup New Zealand, employers are playing the waiting game.
“We’re hearing varying reports on the state of the world business climate, with some predicting a global ‘double dip’ recession and others holding out hope for continued recovery. These sorts of conditions can make employers more cautious,” said Mr Riley.
He added, “We often see a slight drop off in hiring in the lead up to Christmas, but it appears to be minimal this year. This is a good sign, and points to some resilience in the jobs market.”
Employers in several sectors are reporting a slower hiring pace quarter-over-quarter, with the greatest declines seen in the Manufacturing sector (with an Outlook down to +12%, compared to +22% last quarter).
At the other end of the spectrum, employment optimism is strongest among employers in Finance, Insurance & Real Estate (Outlook of +26%, up from +20% last quarter), and Transport and Utilities (+25%, up from +11%).
“The employment market is always going to be varied across industry sectors and we’re now seeing evidence of a two-speed labour market, with some industries returning to pre-recession levels faster than others,” said Mr Riley.
“However, in reaching those levels, many industries are experiencing some turbulence as employers try to gauge the recovery. Sectors like Finance, Insurance and Real Estate and the Services sector generally (which includes IT and law) have seen high fluctuations in hiring expectations over the past year.”
Ms Julie Saddington, Talent Management practice leader, Right Management, a ManpowerGroup, says despite subdued hiring intentions, now is a good time for employers to take stock and work on their organisation from the inside out.
“Employers may not have a firm grip on what the near-term business climate holds in store, but what they are doing is going ‘back to basics’ with a focus on building the capability and productivity of their existing workforce through simple HR measures,” Ms Saddington said.
“We’re seeing many of our clients review and implement programmes that support good leadership, enhance productivity and encourage retention – these may sound like basic measures but they are what smart companies will invest in over the coming months, and ensure they get it right, before the real growth begins,” she said.
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For further information and to arrange an interview please contact:
Kaley Payne, Buchan Consulting, +61 2 9237 2807, 0405 368 617 or kpayne@bcg.com.au
Belinda Thomson, Buchan Consulting, +61 2 9237 2800, 0421 193 668 or bthomson@bcg.com.au
Note to Editors
Commentary is based on seasonally adjusted data where available. Full survey results for each of the 36 countries and territories included in this quarter’s survey, plus regional and global comparisons, can be found in the ManpowerGroup Press Room at www.Manpower.com/meos. In addition, all tables and graphs from the full report are available to be downloaded for use in publication or broadcast from the ManpowerGroup Web site at http://www.Manpower.com/library.
A copy of the Q4 2010 ManpowerGroup Employment Outlook Survey, New Zealand report can be downloaded from http://www.Manpower.co.nz/research/studies.aspx
About the Survey
The ManpowerGroup Employment Outlook Survey is conducted quarterly to measure employers’ intentions to increase or decrease the number of employees in their workforce during the next quarter. It is the most extensive forward-looking survey of its kind, unparalleled in its size, scope, longevity and area of focus. The Survey has been running for more than 47 years and is one of the most trusted surveys of employment activity in the world. The ManpowerGroup Employment Outlook Survey is based on interviews with over 61,000 public and private employers worldwide and is considered a highly respected economic indicator.
The ManpowerGroup Employment Outlook Survey is currently available for 36 countries and territories: Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Colombia, Costa Rica, Czech Republic, France, Germany, Greece, Guatemala, Hong Kong, Hungary, India, Ireland, Italy, Japan, Mexico, Netherlands, New Zealand, Norway, Panama, Peru, Poland, Romania, Singapore, Spain, South Africa, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. The program began in the United States and Canada in 1962, and the United Kingdom was added in 1966. Mexico and Ireland launched the survey in 2002, and 13 additional countries were added to the program in 2003. New Zealand joined the program in 2004, China, India, Switzerland and Taiwan were added in 2005, and Argentina, Peru, Costa Rica and South Africa joined in 2006. Colombia, the Czech Republic, Greece, Guatemala, Poland and Romania joined in 2008, Hungary and Brazil were added in 2009, and Panama joined in 2010. For more information, visit the ManpowerGroup. Web site at www.Manpower.com and enter the Research Centre, or contact Bruce Bock, Sr. Global Communications Manager at bruce.bock@Manpower.com
About ManpowerGroup.
ManpowerGroup. (NYSE: MAN) is a world leader in innovative workforce solutions; creating and delivering services that enable its clients to win in the changing world of work. With over 60 years’ experience, ManpowerGroup offers employers a range of services and solutions for the entire employment and business cycle including permanent, temporary and contract recruitment; employee assessment and selection; training; outplacement; outsourcing and consulting. ManpowerGroup's worldwide network of nearly 4,000 offices in 82 countries and territories enables the company to meet the needs of 400,000 clients per year, including small and medium size enterprises in all industry sectors, as well as the world's largest multinational corporations. The focus of ManpowerGroup’s work is on raising productivity through improved quality, efficiency and cost-reduction across their total workforce, enabling clients to concentrate on their core business activities. ManpowerGroup. operates under five brands: ManpowerGroup, Experis, Elan, Jefferson Wells and Right Management. More information about ManpowerGroup. is available at www.Manpower.com.