This article was published in NZ Management Magazine.
While wage inflation and CPI do not directly correlate, the massive jump in cost of living, coupled with low unemployment, has resulted in the biggest change in salary movement at general staff level for over 10 years.
It is clear that New Zealand has entered into a new era of rapid change, where the ongoing pandemic with its many variants, and rapidly changing economic conditions are becoming the new normal. Leaders have likely never experienced this level of change and the need to respond quickly to such constantly changing conditions. It could be that this will be the new normal for some time.