THE VACANCY REPORT
In February 2010 vacancies surged to 19,570, a
26.5% lift from January 2010, and a 7.5% rise on Feb 2009.
This is the first time in 24 months that vacancies are
higher than the corresponding period a year earlier, and we
can already see that March will continue this trend with a
further increase in advertised vacancies.
This is very positive news for the NZ economy. We're now
the first developed economy to show substantial vacancy growth
after emerging from recession (Aust also has rising vacancies,
but never entered recession).
These surging vacancy figures suggest unemployment will
fall during this quarter, earlier than predicted by Government
agencies or any other forecasters.
If vacancies in April pick up after the Easter break, and
job growth continues in coming months, we'll have the labour
market indicators of a strong economic recovery.
Examination of individual job sectors provides further
information on recovery prospects.
We're seeing the greatest increase in Sales vacancies, a
trend confirmed by the Dept of Labour. They reported a 25%
lift in Sales & Marketing vacancies over the last year,
giving this sector the biggest vacancy growth.
This shows that companies now have the confidence to
strengthen their sales efforts, versus 12 months ago when many
were making salespeople redundant.
If there is a genuine upturn in business activity, and all
those new sales people deliver results, then additional
customer service and admin staff will soon be needed.
Over coming months we'll report on which job categories,
industry sectors, and regions of NZ are showing the biggest
increase in vacancy numbers.
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The UNEXPECTED FILE
At first glance it is somewhat unexpected that applicant
numbers would surge as vacancies begin to increase.
Intuitively we expect applicants to decrease as new jobs
soak up the unemployed.
However on reflection it soon makes sense. There are some
250,000 unemployed and under-employed people looking for work,
and about 2.15 Million people in work.
Applicant volumes would double if just 10% of people
already in work felt confident enough of their prospects to
start looking for a new job.
Recent surveys suggest as many as 40% of workers are
dissatisfied with their current job or conditions. Once these
people start actively looking for a new position applicant
numbers will experience a big jump.
A very interesting situation then develops. The best time
for employers to find quality staff is right at the point that
confidence and vacancy growth returns.
When many high quality people already in work decide to
look for a new job, a flood of talent will enter the job
market, and provide employers with a unique opportunity to
strengthen their teams.
The opportunity to pick up quality staff in the next 12
months will probably be greater than at any time in recent
business history.
However not all vacancies will occur as a result of planned
growth. Employers should consider external pressures that will
bear upon their own workforce.
People leave jobs for many reasons, and unexpected
resignations are a fact of life. The Australian economy is off
on one of its periodic growth spurts and will soon start
attracting Kiwis over the ditch again. When loved ones migrate
they may take your good people with them.
There are myriad factors that can cause attrition within
your existing team. When the unexpected happens we're there to
help on 0800 638 968
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Solutions
In one low cost package we will:
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We'll create and run catchy adverts for your vacancy on all
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Unlike the hassle of listing your own vacancies and dealing
with the flood of unsuitable applicants, our service cuts out
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less than doing it yourself.
Every year hundreds of satisfied employers reap the
benefits of our service to fill thousands of vacancies.
Give us a call to find out more on 0800 638 968
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More - What our clients say about our service
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