Market Update – New Zealand

THE CURRENT EMPLOYMENT LANDSCAPE IN NEW ZEALAND IS CHALLENGING

As such, it is likely to take a migrating ACCA Member longer to find a suitable job – especially their dream job – than they would expect. We encourage all Members who are thinking of migrating to New Zealand to prepare their move very carefully. This preparation should include ensuring that you know the local taxation and corporation regulations. In addition, you should make certain your CV is up-to-date and relevant.

Top Tip – Finance roles in New Zealand are relatively hard to find. Do your homework before you migrate! You might think about contacting local recruitment firms and asking them to review your CV in advance.

According to findings from the Michael Page New Zealand 2014/15 Salary and Employment Forecast, 42% of surveyed employers expect to increase headcount in their teams. Report findings reveal that 67% of surveyed employers do not expect local talent to leave for overseas opportunities and 57% expect staff turnover to increase over the next 12 months, up from 49% in last year’s survey.

In 2014, more professionals return home to New Zealand after working overseas compared to 2013, and New Zealand is also losing less people overall to the UK and Europe. Meanwhile, more expatriates are exploring job opportunities in New Zealand due to flatter employment markets elsewhere in the world. This is all having a positive impact in terms of talent availability in New Zealand.

Figures from the report demonstrate a consistent trend, including 75% of surveyed employers in the property and construction industry not expecting their employees to take up an overseas offer, as well as finance (72%), sales (66%), procurement and supply chain (65%), office support (64%) and marketing (56%). However, the higher availability of local talent is not enough to fill the talent gap, with 52% of surveyed employers expecting a skills shortage, an increase from 48% in last year’s survey.

All of this means that ACCA Members migrating from overseas will be competing in the local market against locally qualified finance professionals, many of whom have both local and overseas experience. You must ensure that you are prepared for this tricky employment market. To give yourself the very best chance of securing employment, do your homework, be prepared and be ready to compromise on the type of role you might think about taking to get your foot in the door in the first instance.