Some thoughts from Greg, one of our Client Managers, on the job market so far and preparing for the EOFY.
The Shifting Job Market: A Turning Tide or Just EOFY?
As we approach the end of the financial year (EOFY), we’re noticing an interesting shift in the Wellington job market from our perspective as a client manager. The trends we're observing are intriguing, but the key question remains: Is this just a seasonal blip, or are we really seeing the market heat up once again?
A Shift Towards Permanent and Contract Roles
One of the most noticeable changes is the rise in permanent and contract roles. Fixed-term positions are becoming less common, suggesting businesses are starting to plan for the long term when it comes to hiring. On the contract side, we’re also seeing an increase in part-time opportunities. Clients are showing more openness to offering part-time contracts and are even willing to be flexible on hours, including after-hours work. The demand for flexible work arrangements is here to stay—without compromising the quality of talent required.
The Work-From-Home (WFH) Debate: In-office vs. Hybrid
In terms of working arrangements, we’re seeing a mixed approach. Many businesses are now opting for a hybrid model, where staff work from home part of the week but come into the office for collaboration and team-building. Interestingly, companies that lean towards in-office work often emphasize the importance of company culture. On the other hand, organisations offering more flexible WFH options point to trust as a key factor – they trust their staff to deliver without a rigid office schedule.
Talent Availability: Still a Competitive Landscape
While there are still plenty of people actively looking for new roles via job boards, companies are increasingly going beyond job boards to actively search for top-tier candidates who aren't active on the market. This is where the need for headhunting becomes critical. These individuals might be open to making a move, but they need the right opportunity to catch their attention.
A Surge in Requirements - Why? Brain Drain or Election Preparations?
What we are noticing more of is not an increase in job ads, but a rise in hiring requirements. The demand is out there, but it’s not necessarily being advertised through traditional channels like Seek. This could be driven by a couple of theories:
Are we seeing more hiring needs because of the ongoing brain drain, with businesses trying to fill roles as talent exits?
Or could it be that the government is preparing for the upcoming election, which may result in new initiatives and a shift in hiring priorities?
It’s a developing trend, and one that will likely play a role in shaping the market over the next few months.
So, what’s behind this shift? While EOFY might be contributing to the current market rhythm, it feels like we’re witnessing the beginning of a broader trend. Whether this shift continues after EOFY remains to be seen, but one thing is clear: the job market is evolving in Feb/March in the right direction..