NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

Talent retention key concern for businesses

Other
6 Jun, 2014 12:00 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Fonterra's General Manager of Talent Kirsty Thomas.

Fonterra's General Manager of Talent Kirsty Thomas.

It used to be that once you had an employee, you had them for life - but that's definitely not the case now and especially in Mid-Market firms.

They're finding it takes more than a decent pay packet and stable job to keep staff happy; now they must appeal to the hearts and minds of their staff for full workplace engagement and to retain their best talent.

Despite accounting for only 6.6 per cent of the country's firms, the Mid-Market (those companies that turn over between $2m-50m annually) is a huge employer, accounting for 33.2 per cent of employment in New Zealand. That figure is set to rise even further, with the 2014 GE Capital NZ Mid-Market Report showing that Mid-Market firms expect staffing levels to grow by an average of 1.3 per cent. That could add as many as 9,900 jobs across all segments this year,

"I'm hearing that workers no longer envision static, long-term employment , but hope for career opportunities that respect their personal goals, including breaks for travel or education," reported Fonterra's General Manager of Talent Kirsty Thomas at a recent GE Capital Building Better Businesses Summit in Auckland.

She said that top calibre employees want more from their employer than just a job. In order to feel more engaged in their work, they want more ownership and input around their responsibilities, something that Mid-Market firms could do more of.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"My experience with New Zealand companies is they haven't fully explored the idea of partnering with their people," Thomas adds. "Their approach to talent is that employees will be pleased simply to work for a big name company and they'll want to take on a career for 20 years. Not everyone wants that - and the most entrepreneurial people are unlikely to want that."

Fonterra may not be Mid-Market level but, as one of New Zealand's biggest employers, with more than 16,000 staff, they have experience and best practice that many Mid-Market firms could learn from.

The GE Capital NZ Mid-Market report also found that staff retention is something 56 per cent of Mid-Market firms are especially focused on in 2014. Not only can they do without the major expense that comes with finding and training new staff, they believe good talent will help drive and grow their business this year.

Advertisement
Advertise with NZME.

As firms grow and employ more people, employees learn from each other and share ideas. The better the talent or skill level of staff, the better human capital or corporate currency, resulting in a more efficient and productive company.

As well as retaining the best talent, it's about ensuring that talent is engaged in what their company is trying to achieve, says Thomas - highly engaged employees generate much more value for a business than a person not enthusiastic or disengaged.

The GE Capital NZ Mid-Market report discovered that Mid-Market businesses think a company culture that nurtures and develops talent will help them retain skilled people. Many say they can offer their employees the opportunity to work in a business that sets the standard for their particular industry through innovation and fresh thinking.

But it will take more than that to get exceptional employees to stick around long term, especially in the case of millennials who have very different expectations of their careers to previous generations. They expect to quickly progress through the ranks and aren't afraid to job hop to get to where they want to be.

Discover more

Business

Mid-market companies lead the way

16 Apr 09:45 PM
Opinion

Small Business: Change of direction driven by passion

20 Apr 04:15 PM
Business

Igniting growth through staff empowerment

23 Apr 10:50 PM
Business

'Global brain' helps business growth

16 May 12:08 AM

There are a few simple moves to get employees more engaged, says Thomas. Think hard about the responsibilities you give your best people - is it meaningful work that has a significant impact on your business, so they feel like what they do matters? Do you make your staff feel valued and respected for what they do for your company and do you enable them to learn and progress?

She says Mid-Market companies have the ability to offer their people a lot of varied opportunities to meet their psychological needs, even if they don't have thousands of roles or offices in multiple countries.

Align them with an effective leader good at managing and respecting people, Thomas suggests. Allow them to work alongside people who have worked overseas and have world-class experience to share. Give them a job that allows them to experience another facet of the business that they're interested in, such as marketing or sales. Grant them leave for more study or an OE. Expose them to technology or other new or cutting edge experiences.

"The key here is to understand what drives, motivates and engages people - and to figure out ways to provide or partner with them on it. It can be helpful to look around at various businesses and groups to see what makes people happy at work," Thomas advises.

For more insights into New Zealand businesses in the Mid-Market and the qualities they share, download the GE Capital New Zealand Mid-Market Report 2014:
Save

    Share this article

Latest from Business

Premium
Media Insider

TV shake-up: Sky TV set to lose channels - viewers 'don't like repeats'

05 Jul 09:46 AM
Business|companies

Entrepreneur Bowen Pan on why he returned to NZ

Premium
Business|companies

Silicon Valley to NZ: Kiwi Facebook Marketplace inventor is back home to give back

05 Jul 12:00 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
TV shake-up: Sky TV set to lose channels - viewers 'don't like repeats'

TV shake-up: Sky TV set to lose channels - viewers 'don't like repeats'

05 Jul 09:46 AM

A major global deal is coming to an end for Sky. What does that mean for customers?

Entrepreneur Bowen Pan on why he returned to NZ

Entrepreneur Bowen Pan on why he returned to NZ

Premium
Silicon Valley to NZ: Kiwi Facebook Marketplace inventor is back home to give back

Silicon Valley to NZ: Kiwi Facebook Marketplace inventor is back home to give back

05 Jul 12:00 AM
Premium
Bruce Cotterill: Is our bloated bureaucracy hindering economic growth?

Bruce Cotterill: Is our bloated bureaucracy hindering economic growth?

04 Jul 11:00 PM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP