The Market Information team is pleased to announce the publication of the New Zealand Pandemic Business Response Pulse Survey 1 Results which outline how businesses are dealing with Recruitment and Salary Increases.
Findings from New Zealand Pandemic Business Response Pulse Survey have offered valuable insights into how businesses are coping with the Covid-19 situation and what actions they are taking within their business to cope with salary increases, bonus payments and recruitment. Strategic Pay Chief Executive Officer, John McGill, says that this information is particularly important for businesses at this uncertain time to support decision making and understand broader market practice.
The survey provided information on what is currently occurring in the New Zealand marketplace beyond what we are hearing anecdotally. This pulse survey is the first of a number in the coming weeks to help support organisational decision making, with the results shared complimentary.
Some key findings include:
- Overall 59% of respondents are putting on a recruitment freeze due to Covid-19
- 41% of responding organisations had no initial plan to pay out a bonus in 2020 for performance in the 2019 Financial Year
- 36% of those organisations that planned to pay bonuses have already paid them out or still plan to pay them out in 2020
- 13% of those organisations that planned to pay bonuses are cancelling plans to pay out bonuses to staff