The Market Information team is pleased to announce the publication of the New Zealand Pandemic Business Response Pulse Survey 4 Results which outline how Businesses are dealing with the Impact of the Crisis on Business Planning.
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.
“There are some interesting differences in the responses between the Private Sector/Not-for-Profit Sector and the Public Sector that highlight the different pressures these groups are under. For the Private Sector/Not-for-Profit Sector flexibility in work practices and forecasting the future workforce are the clear priorities whereas for the Public Sector while flexibility in work practices is right up there, staff well-being ranks as their second most preferred issue. Clearly the pressure on costs is not quite the same in the Public Sector as elsewhere. It’s not a large difference but it does reflect a different focus from that part of the economy as they come to grips with the impact of this crisis. Overall this week’s survey show a clear focus from all groups as to how they have responded”
Some key findings include:
- The primary challenge of 45% of Public Sector HR teams is supporting wellbeing and stress levels of employees
- 38% of the Private Sector HR teams identified the most common challenge to be forecasting future workforce needs in a fast-changing market environment
- Mental well-being of employees features strongly across all sectors
- Overall 70% of responding organisations have experienced fast-tracked flexibility and remote working practices as a result of the crisis
- 60% of organisations mentioned the positive effect of the emergence of new people initiatives or ways of working that organisations hope will continue post lockdown
- 3% noted that there were no noticeable positives as a result of the crisis
- Overall 46% of organisations are not planning an increase their salary review planning
- 44% of organisations are not planning to change their pre-existing plans