Better People Practices Needed
Better People Practices Needed to Increase NZ Global Competitiveness Ranking
8 September 2014
Once again New Zealand has risen in the annual World Economic Forum Global Competitiveness Index, moving up one place to 17th globally, our best position to date.
However, there are areas in which we can improve. New Zealand has real issues around productivity, retaining people talent, and how we recruit and let people go from our organisations. This is reflected in the findings of the Global Competitiveness Index where we come in at 52nd place in our capacity to retain talent and 58th place in our hiring and firing practices.
Chris Till, Chief Executive of the Human Resources Institute of New Zealand says, “post war baby boomers are retiring in increasing numbers and people shortages are already resulting from that. Combine this with the need for talented workers, in the right skills areas who can also innovate and you to start to see the dilemma the country faces. New Zealand people leadership also does not feature well - we sit low in the third ranked group - with Portugal, Greece and India, and this negatively affects productivity.
This is where the profession of Human Resources can make a real difference for NZ Inc. By helping businesses and organisations to see that a move to a much more modern, collaborative, inclusive and innovative leadership style, away from old school command and control, is the way for us to climb still higher. There is no reason why our nation cannot be top ten once more - and we need to lead and manage our way there through up to date people practices. Businesses need to start listening to the voice of their good HR people.
This can be supported by an increasingly mature, progressive and influential NZ HR profession, as represented by the Human Resources Institute of New Zealand."