Rising salaries and increased recruitment demand call for an alternative approach to employment.
Back in November, I brought your attention to the worldwide phenomenon dubbed ‘The Great Resignation’, the term used to describe the widespread trend of a significant number of workers leaving their jobs during the COVID-19 pandemic. Given we are now seeing an increase in employment demand, with both TradeMe and Seek identifying an increase in job listings of up to 40% in some sectors compared to last year, it would appear ‘The Great Resignation’ has landed on our shores.
Money is the top reason why people move jobs. In fact, for 49% of people, salary and compensation are deemed more important to them now than before the pandemic. With the rising cost of living hot on everyone’s lips, people are now looking around for better pay. Combine this with a shortage of workers in certain fields, and you now have an employee’s market.
Job seekers are being inundated with calls from recruiters and businesses all desperate to find staff, and many willing to pay above market rates to get them on board. For the best, most talented candidates who know their worth, it’s even more relevant.
Now that it's such a tight market, some candidates can achieve increases of 20%-50% by switching jobs, so how can we gain and retain good staff in such a fickle market? One option to consider is to hire interim staff.
As an interim manager, I offer a range of services to companies looking to plug gaps in their top level quickly, without the risk of long-term contracts. These services may be in the form of an interim CEO, a contract executive, project management, a strategist, senior leadership or cover for maternity/sick leave.
By hiring an experienced senior manager/advisor on an interim basis, problems are able to be identified and resolved quickly, and the urgency to appoint senior staff is removed. Unlike standard employment contracts, interim management allows for easy termination and flexibility of hours.
Find out more about my Interim Management Services.
TradeMe & Seek Latest Reports
https://www.seek.co.nz/career-advice/article/fastest-growing-salaries-in-your-industry
https://www.trademe.co.nz/c/jobs/news/jobs-market-to-see-big-changes-in-the-coming-months