March News at Fred

March felt like it barely started before it finished already, with a huge few weeks behind us at Fred.  It’s important when big things happen, to stop and take a minute to acknowledge them, and with Fred turning 2 this March, we cleared the decks for a day together.  We celebrated with early laughs in the office and a bit of light entertainment, and then a wholesome indoor picnic lunch on account of the dodgy weather.  It was the right time to reflect over the foundations we set early on, and celebrate the team we are so proud of, who live and breathe the importance of Fred’s values.  Over 2 years we have grown to a team of 15 incredible people, all very much a part of, and a reason for Fred’s early success.

What’s been happening in recruitment this month?

Fuel Costs

A hot topic in business, for obvious reasons.  We have seen the effect of this in many forms already, including redundancies, recruitment put on hold, staff requested/requesting to work from home where possible, changes to the way fleet are to be used such as tightening of personal use criteria.  For more information around restrictions and their effects on your business the Business Canterbury Team have released an article – Read here

AI

The AI topic continues to remain at the forefront of our industry as an often uncomfortable topic no one really knows how best to execute.  AI has made great strides in its relatively short existence, and no doubt will be used with more and more confidence and sound execution as it develops and we learn how to embrace it

Though if you’re not sure which direction to take just yet, relax – it’s fair to say no one has the perfect AI solution just yet. Here is an article released by MIT finding 95% of GenAI pilots have failed.

Time to review your go-to platform?

On the same topic, new improvements have shifted the ranks for daily use platforms such as ChatGPT, Gemini and Claude, with ChatGPT taking a significant back foot.  None yet to be trusted fully, always fact check these platforms, and do not ever rely on them for accurate financial reporting in case you were considering it – accountants, you’re very safe!  (Phew, because we love recruiting these roles!) Find out more here

Seek Data

On the Seek data front, advertised salaries are on the rise by 0.4% in Feb, pushing annual growth up to 3.9% YOY, the fastest six-month pace since early 2024, with Advertising Arts & Media the strongest sector at 8.3%.  Job ad volumes also continue to grow, up 0.9% MOM and 12.2% YOY which is the strongest annual rise since 2022.

Minimum wage and KiwiSaver changes

For those running internal payrolls, as of April 1, the minimum wage goes up to $23.95, a 45c increase.  KiwiSaver also rises to 3.5% from 3% as a minimum employer contribution.

Find out more about your wage and KiwiSaver obligations here

Internally we continue to see a rise in recruitment levels, particularly  in temp, FTC and contract roles, all indicators that the market is backing the Seek data on the growth front and we are continuing to forge ahead.  GDP initially expected to hit 3.4, on account of offshore unrest, now predicted to be to 2.7 (against Australia’s 1.7%) Maybe time to take a minute and appreciate it’s not so bad to live in NZ after all!