Well hello 2020 – and where did the last 20 years go?
Here we are at the beginning of a brand-new year and no doubt there is an abundance of planning and goal-setting happening for the year ahead.
As I wrote this article on holiday, looking out to the beach, I certainly reflected on a) how fortunate I am, but also b) on how technology has progressed over this time, enough to allow me to work remotely, to have valuable extra time with family and friends and to have a little more balance in my own life.
It seems like only a few years ago there was no internet here or mobile reception for that matter, and I would have had to rush back to my office to check a huge amount of emails, while wondering if I had ever actually been away on holiday.
Technology has certainly provided a lot of flexibility for myself and my business.
Recruitment-wise, I believe that we have had a positive end to 2019, which leads to a good start to the year with many organisations proactively seeking talent to increase current capabilities, noticeably through the increase of leadership roles. More and more businesses are embracing flexible working hours within their workforce, which is in turn widening the pool of candidates available to them and increasing capability.
Candidate market tight
As a nation and region we are still experiencing a very tight candidate market, which is causing employers across a variety of sectors a fair amount of pain, it’s hard to grow a business or even meet market demand if you can’t find employees.
It seems like a sensible option to consider all available options where possible to broaden the pool of candidates.
The Bay of Plenty employment market certainly seems to be holding up reasonably well with recruitment and employment stats over the Tauranga and Rotorua regions showing positive signs of growth, and the region still being very much on point as a destination for candidates to relocate to despite the increasing house prices.
The New Year brings movement in the workforce – those who are either relocating to the region and looking for work, or those who are currently employed and looking for a career move.
February is the time where we traditionally experience an influx of candidates, which in turn will be extremely welcomed and good for the employment sector.
I urge employers to really consider hiring based on future anticipated demand rather than just present need.
Recruitment processes are presently taking longer and are increasingly difficult due to talent shortages. My advice is, if you find someone good, hire them.
In a commercial sense we are all looking forward to a positive year ahead in which business will sustainably grow and flourish. Typical of most years we have new legislation to navigate our way through.
On 1 April, the minimum wage is set to rise again, from $17.70 per hour to $18.90 per hour. Overall as an employer, I feel that this is positive. However, I am painfully aware of the increasing costs that employers are facing.
A rise in the minimum wage may also mean that it is timely (or expected) for you to review wages across your entire organisation – especially those that are now being paid at a similar rate to the minimum wage.
The election ahead this year could stimulate a unique environment, providing yet another challenge for businesses to navigate.
Typically the closer we come to the election, businesses tend to take a deep breath and hold. The economy slows a bit and business confidence can being a little less enthusiastic.
So as we plan and set goals for the year ahead, it’s good to keep in mind the challenges and speed bumps that the year will also inevitably bring. Here’s to a robust and positive 2020. I hope that you are starting the year refresh and ready to hit the ground running.