Retaining top talent, recruiting new staff, developing employee benefits, and managing the hybrid workplace – recruitment hasn’t been without its challenges in 2022. Carmel Strange, Asset Recruitment’s Manager reflects on the year that’s been and what’s in store for Waikato businesses in 2023.
In the midst of December the old cliché ‘Where did the year go?’ can be heard around the Asset Recruitment office. But as we reflect on the past 12 months, key themes emerge for Waikato’s recruitment market: business growth, fresh talent, and workplace opportunities.
Although the year hasn’t been without its challenges (more on those below); it’s also been a year of prosperity in the Waikato. The Ruakura Superhub continues to take shape as does the inner city commercial precinct Union Square, both bringing economic opportunity to the region. The completion of the Waikato Expressway makes Hamilton’s business landscape even more attractive to candidates outside of the region, while our tertiary institutes provide a pool of new graduates eager to step out on the career ladder.
But one of the greatest challenges to emerge from the past few years is the ongoing competition for qualified candidates in a competitive market. “Rewind to the beginning of the COVID-pandemic and I don’t think any recruiter or employer thought we would see an increase in the need for more staff as we’ve experienced,” says Carmel Strange, Asset Recruitment Manager.
“What we’re seeing now is the impact of significant economic growth at a time when our borders were closed – top talent is scarce and continues to be, with nowhere near the numbers coming into New Zealand that the market needs.”
A limited pool of talent means employers need to establish creative ways to set themselves apart. Carmel says flexible working arrangements continue to be a requirement for many candidates, as do increased employee benefits, competitive wages, and professional development opportunities.
Recruitment trends on the horizon in 2023
Exciting challenges are on the horizon though. An international report that looked at trends expected to affect the labour market in the coming years noted demographic shifts, remote work, company culture, and diversity, equity and inclusion (DEI) among the top challenges for employers.
“It’s never been more important to have a firm recruitment strategy in place,” says Carmel. “The market is constantly changing and continues to throw challenges our way. To respond to these, organisations need to have a recruitment framework from which they can respond, adapt, and prepare.”
Managing the market in 2023 will start with taking a proactive approach to recruitment says Carmel. “We expect to see more expressions of interest for roles prior to them being established, rather than organisations wanting to fill a role once demand for the skillset has been determined,” explains Carmel.
“Those organisations who are preparing to develop a role or a team around individuals who fit their company culture may find themselves with a greater candidate pool, than businesses who want to fill a position with set criteria,” she says.
But Carmel also offers a word of warning to employers. “Don’t become complacent with the talent pool you have. Increased employee retention efforts will become paramount for organisations in 2023 and beyond. Think of the three Rs: recognition + reward = retention.
“It’s also important for employers to be aware of what matters to candidates. By keeping your finger on the pulse of what candidates – and staff – deem are meaningful attributes of an organisation will help to ensure you not only retain the talent you have but attract the talent that is right for your roles and your company culture in 2023.”
Positioning excellence with Asset Recruitment
To recruit, retain, and position excellence, talk to the team at Asset Recruitment. They’ve been placing top talent in Waikato’s market for more than 30 years.