Even as online job advertisements continue to decline, a little over half of office workers in New Zealand have indicated they are likely to look for a new job in 2024. The surveyed workers have indicated they are open to new opportunities that can provide them with what they lack in their current jobs.
While 57% of the surveyed office Kiwi workers have cited they are likely to look for a new job this year, the remaining 43% have decided to stay put. Of those seeking more greener pastures, 10% having already 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.
These are the result of a study developed by Robert Half- a specialised global recruitment agency, and was conducted online in November 2023 by an independent research company, surveying 250 hiring managers and 501 workers in New Zealand.
The top four reasons why workers are considering leaving are limited career progression opportunities, uncompetitive pay, rising cost of living and poor work-life balance.
As Kiwi workers focus on how to progress their careers and stay afloat with soaring living costs, the study reveals 43% of New Zealand workers are unlikely to look for a new job in 2024.
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%).
The likelihood of employees leaving their jobs this year varies significantly depending on the size of the business they work for – 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.
“The era of large pay rises is over. New Zealand employers are being more conservative with their salary increases …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,” says Alexander.
