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Jobs Report Ins NZ - Jul to Dec 2018


July – December 2018

Hotspots of skills in demand 

Over half (53 per cent) of employers in New Zealand expect to increase permanent staff levels in the next 12 months, exceeding the 8 per cent who say they’ll decrease. According to the 2018-19 Hays Salary Guide, 18 per cent also expect to increase their use of temporary and contract staff, exceeding the 11 per cent who anticipate decreasing in this area. Meanwhile, 21 per cent now employ temporary and contract staff on a regular ongoing basis, with another 41 per cent employing them for special projects or workloads.

Given vacancy activity, hotspots of skills in demand are emerging. Demand will be high for claims professionals given population growth, an increase in road users, storms and technology advancements, all of which result in a growing number of claims.

Property Underwriters are needed too thanks to New Zealand’s strong residential construction industry.

Motor Assessors are increasingly sought. The number of monthly registrations is rising since there is an increasing number of road users. This in turn leads to more vehicle incidents.

Risk Brokers in life insurance are in demand. This is a service that robo-advice cannot process independently end-to-end.

The focus on cyber risk measures is creating demand for Specialist Brokers. Senior Brokers will need to upskill to understand how to bring this to the attention of commercial clients.

Enthusiastic and reliable Broker Supports and Customer Service Team Leaders are needed.

So too are Recoveries and Settlement Consultants who are up-to-date with current technology.

Finally, Risk & Compliance professionals are sought in response to major regulatory changes.

Salary trends

Almost two-thirds (64 per cent) of employers will give skilled professionals a pay rise of less than 3 per cent in their next review while 8 per cent will not increase salaries at all. According to the 2018-19 Hays Salary Guide, a further 22 per cent will give staff an increase of 3 to 6 per cent. Just 6 per cent will increase by 6 per cent or more.

Employees however have higher expectations for a salary increase. Over two-thirds (69 per cent) say a salary increase is their number one career priority this year. 26 per cent expect an increase of 6 per cent or more. A further 22 per cent expect an increase of between 3 to 6 per cent. At the other end of the scale, 19 per cent do not expect any increase and 33 per cent expect less than 3 per cent.

For more, see our Hays Salary Guide

Jobseeker advice

Upskilling has become a constant requirement to remain employable in today’s rapidly changing world of work. After all, the Fourth Industrial Revolution is here and rapidly gaining ground. Many jobs are being automated via technologies including artificial intelligence (AI), the Internet of Things and cloud computing.

For example, the rise of automated robo-advice continues. If preliminary quotes are converted to policies without the assistance of Brokers, demand for these professionals may reduce as a result of the increased use of AI across the industry.

Algorithms are also being used for online claims and preliminary assessing.

Research from management consulting firm McKinsey suggests about 60% of occupations could see at least a third of their job tasks automated. Meanwhile, a report published by Deloitte claims the half-life of learned skills is now about five years.

To find out how to stay relevant and employable in the face of all this rapid change, see our upskilling advice here.