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More than three quarters of Kiwi employees are working to live as opposed to living to work and 44% are prepared to forego part of their salary to secure their job, according to a report released today by specialist recruitment and HR services company, Randstad.
The Randstad Workmonitor Q2 2012 which surveyed over 14,000 employees from 32 countries revealed 44% of Kiwis believe their employer’s financial performance is currently under pressure and a third of workers are willing to sacrifice a part of their own salary to prevent redundancies within their wider organisation.
Director of Randstad New Zealand, Paul Robinson says these results are reflective of the current business environment which continues to show uncertainty in New Zealand and abroad.
“It also mirrors our recent Randstad Award employer branding research which found long-term job security and the financial health and stability of organisations means more to New Zealanders than a competitive salary.”
“As such, business leaders need to ensure they openly communicate with their people on how they are performing to ensure employees feel engaged in their work, connected to the organisation and safe in their jobs,” says Mr Robinson.
“The Randstad Workmonitor confirms New Zealanders continue to be affected by global economic uncertainty, and yet are prepared to make small sacrifices during tough economic conditions.”
Mr Robinson says in talking to jobseekers, people are reassessing their remuneration expectations and career progression opportunities as they are increasingly aware of the realities of a volatile labour market.
“More than ever, Kiwis understand the pressures that businesses are under and many are witnessing the tough financial times first-hand. Consequently, they’re sitting tight in their current roles and working harder than ever to prove their work and ensure job stability,” says Mr Robinson.
“As a result, we have seen a relatively flat job market with minimal movement between organisations and industries. While there has been slow but gradual improvement in the New Zealand markets, we operate in a highly connected global financial marketplace, and the flow-on effects stemming from a precarious European economy are increasingly having an impact here in New Zealand and around the world.”
There was no change to the Q2 Randstad Workmonitor Mobility Index following last quarter’s index at 102 points, indicating that Kiwis are holding tight and less active in looking for a job over the next three to six months.
New Zealand joins 32 countries across the world in the quarterly Randstad Workmonitor research. Workmonitor is significant to New Zealand as it highlights local and global trends.
The quarterly Randstad Workmonitor tracks jobseeker confidence and provides a comprehensive understanding of job market sentiment and trends relating to the employment market.