Retaining Key Staff Important Factor When Setting Wages And Salaries

Three-quarters of businesses stated that retaining hard-to-replace workers was deemed very important when setting wages and salaries for their employees during the last two years, according to data released by Stats NZ today.

“Retaining hard-to-replace workers, competing for staff, and responding to changes in business conditions were key factors for businesses when determining wages and salaries,” business performance manager Ricky Ho said.

More flexibility in non-wage conditions

“We asked businesses about how the non-wage conditions for their employees changed over the last two years, and about one-quarter of businesses indicated an increase in employees’ choice over hours of work,” Ho said.

Meanwhile, more than 1 in 5 businesses reported an increase in employees' choice over location of work. Of the surveyed businesses, those from the financial and insurance services industry have seen the greatest increases in the flexibility of these employment conditions.

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