· 43% of Kiwi workers state they don’t plan to leave their job in 2024.
· 33% list limited career progression opportunities as the single most important reason to seek a new role, followed by uncompetitive pay (22%) and the rising cost of living (18%).
· 40% of workers at SMEs have no plans to leave, while 62% of workers at large organisations feel the same.
Auckland, 18 June 2024 – As Kiwi workers focus on how to progress their careers and stay afloat with soaring living costs, the 2024 Robert Half Salary Guide reveals only 43% of New Zealand workers are unlikely to look for a new job in 2024.
Even at a time when the number of online job advertisements continues to fall1, workers have cited they are open to new opportunities that can provide them with what they lack in their current jobs. About half (57%) of the surveyed office workers in New Zealand have indicated they are likely to look for a new job this year with 10% having done so in the first quarter of the year, 6% in the first half of the year and 37% plan on doing so throughout the year.
It’s not always about pay
There are a variety of reasons why Kiwi employees want to leave their job. Of the workers who indicated they are likely to leave their jobs in 2024, limited career progression opportunities and pay issues top the list when it comes to seeking new work.
Source: Independent survey commissioned by Robert Half among 501 workers in New Zealand.
All generations in the workforce rank limited career progression opportunities as the number one reason why they would consider leaving their role, with Gen Z (37%) and Millennials (36%) most likely, followed by Baby Boomers (32%) and Gen X (25%).
Workers in large organisations more likely to stay put
The likelihood of employees leaving their jobs this year varies significantly depending on the size of the business they work for. While less than half (40%) of staff in SMEs plan to stay in their current role, almost two-thirds (62%) of workers in large organisations do not plan to leave their company.
“There is restlessness in the New Zealand workforce, with a portion of workers eyeing an exit as a result of long-term career goals not being met at their current employer and mounting cost of living pressures pushing employees to a job with higher pay,” says Megan Alexander, Managing Director at Robert Half.
“While financial compensation remains a key motivator for all employees, all generations take on a long-term view and recognise the importance of developing their skills to future-proof their career and set themselves up for promotions and continued professional growth.
“The era of large pay rises is over. New Zealand employers are being more conservative with their salary increases due to cost pressures on their side, so while pay is a top priority for most due to rising cost of living, professionals should reflect on whether the grass is actually greener when seeking a new role in the current market. Today, changing jobs no longer promises a huge salary increment. Workers should seek alternatives either with their current employer or future company, exploring work-life balance benefits or career progression options that suit the need of both parties,” concludes Alexander.
1 Jobs Online: March Quarter 2024, Ministry of Business Innovation & Employment, March 2024
Notes
About the research
The study is developed by Robert Half and was conducted online in November 2023 by an independent research company, surveying 250 hiring managers and 501 workers in New Zealand. This survey is part of the international workplace survey, a questionnaire about job trends, talent management and trends in the workplace.
About Robert Half
Robert Half is the global, specialised talent solutions provider that helps employers find their next great hire and jobseekers uncover their next opportunity. Robert Half offers both contract and permanent placement services, and is the parent company of Protiviti, a global consulting firm. Robert Half New Zealand has an office in Auckland. More information on roberthalf.co.nz.
