New Zealand confident of business growth in 2020,
latest international Robert Half survey shows
- 55% of New Zealand business leaders are very confident in their company’s growth prospects in the first half of 2020, on par with an international average of 56%.
- 40% of New Zealand business leaders plan to add new positions to their permanent team, on par with an international average of 38%
New Zealand, 16 December, 2019 – Independent research by specialised recruiter Robert Half shows that 55% of New Zealand business leaders have high levels of confidence in their business growth prospects moving into 2020. This, in turn, is impacting their hiring plans for the following year as more than four in ten (42%) plan to increase permanent staff numbers.
Positive growth sentiment in 2020
Robert Half’s latest survey indicates a buoyant business environment going into 2020. More than half (55%) of the 200 Kiwi business leaders surveyed cite high levels of confidence, on par with the international average of 56%. Additionally, only 4% of New Zealand leaders say they have no confidence in their business prospects for the year ahead.
Business leaders in New Zealand were asked: “How confident are you in your company’s prospects for growth in the first half of 2020?”
Not at all confident
Source: Independent survey commissioned by Robert Half among 5,165 international business leaders, including 200 from New Zealand.
Growing market opportunities, current economic climate and access to talent are key drivers influencing business confidence
When looking at the top three reasons influencing their level of confidence, expanding business opportunities (56% vs. 49% international average), the current economic climate (54% on par with 54% international average), and attracting suitable talent (44% vs. 48% international average) are shared as the top considerations for many executives in New Zealand and across the globe.
Focus on flexible staffing to address evolving priorities
A great majority of companies, ranging from large to small, are planning to further strengthen their permanent headcount in the coming year. When asked about their permanent hiring plans, 42% of leaders say they will expand their headcount by adding new permanent positions while 38% maintain their staff levels and only focus on filling vacated positions. When asked for the top three reasons behind their employment plans, 62% cited the current economic and business climate as their key driver (12% above international average).
Following a sustained surge in demand for contingent workers as companies undergo rapid business transformation, many New Zealand companies are now prioritising filling vacant temporary roles rather than expanding their headcount. One in three business leaders (29%) indicate they plan to maintain their current temporary staff headcount, on par with the international average of 32%.
When asked about the top factors influencing their hiring plans, New Zealand employers point to the current economic and business climate (62%/43%), increased workloads (48%/34%), attracting suitable talent (45%/30%) and employee turnover (44%/27%) for both permanent and temporary employees.
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