The property and construction sectors have New Zealand's fastest job growth rate and will outstrip all other sectors in the next two years, says a recruitment specialist.
Demand for talent is highest in these areas and more than half the employees or 62 per cent are receiving bonuses, according to a salary and employment survey by the local arm of international recruitment experts Michael Page which questioned 335 employers across a range of industry sectors.
"Property and construction continue to lead the way in growth, outstripping other industries in terms of activity and demand for talent for the next 12 to 24 months.
Confidence levels are high, with 82 per cent of employers in this sector rating their confidence at good and very good, versus the overall sector average of 68 per cent. A large number of employees (62 per cent) in this field are receiving bonuses, indicating strong performance," the survey found.
"Significant infrastructure and construction projects have been announced for Auckland, and together with the ongoing Christchurch rebuild, look set to continue the current boom in construction, property and infrastructure. As businesses re-establish themselves in Christchurch, a pick-up in activity is expected for next level services, such as marketing, sales, finance and IT," Michael Page said.
The survey's finding tally with a information from specialist jobs business Seek predicting that this year, the the biggest numbers of new jobs would be in education and training, healthcare and the medical fields, building trades, technology, design and architecture.
However, Statistics NZ data out this month showed New Zealand employment unexpectedly fell for the first time in three years in the third quarter, driven by a decline in part-time workers, and the participation rate declined further from a record high. Employment fell 0.4 percent in the three months ended September 30, for an annual gain of 1.5 percent, Statistics New Zealand said. The participation rate fell to 68.6 percent from 69.3 percent.
But Michael Page found that overall, optimism was running high in New Zealand's employment field because 68 per cent of employees said confidence in the industry they work in was either good or very good.
"Despite factors such as China's slowdown and external data pointing at a market softening, businesses remain optimistic, though growth rates have started to slow compared to the past 12 months," the survey found.
Pete Macauley, Michael Page New Zealand regional director, said employers should focus on staff career planning.
"If organisations have the means to provide adequate remuneration, their focus should be on highlighting the progression opportunities they can offer candidates, particularly as the market and businesses grow. This allows companies to demonstrate their point of difference and long-term value to candidates.
"We expect growth and job levels to continue upwards, but at a slower pace than the preceding 12 months. Companies continue to proactively introduce new products and revenue streams, moving into new markets and investing in headcount in response.
We are in the midst of a candidate driven market, with active job search decreasing as candidates wait for opportunities to come to them, further driven by the growing role of social media tools in recruitment such as LinkedIn. High performers with a proven track record of success and delivering results are aware of their marketability and are happy to sit back and wait for the right offer to come to them," Macauley said.