The Bay of Plenty Times is taking a look back at some of the memorable stories of 2022 that featured in Money. Here’s what made headlines from January to March.
Employees chase higher wages: January 29
The Staffroom director Jill Cachemaille. Photo / Supplied
Employees are turning down roles or quitting jobs in search of higher pay packets as inflation spikes amid the Covid-19 pandemic.
Tauranga’s The Staffroom Ltd, director Jill Cachemaille, said quitting jobs to find more money elsewhere was certainly a conversation candidates were not afraid to discuss.
“We have noticed an increase in candidate confidence when discussing remuneration and what people think they are worth – some are realistic and some are not.”
Co-director of Tauranga recruitment agency Ryan + Alexander, Bernadette Ryan-Hopkins, said there was always an uplift of resignations at this time of year as people reassessed their lives after breaks with their families.
“But thankfully the Bay and all it has to offer is a place that people want to come to rather than leave.
“We tend to see a bit more interest from candidates from outside of the region at this time.’’Rotorua manager of Personnel Resources/Temp Resources Ltd, Angelique Scott, said candidates were in hot demand with a good candidate being snapped up within a day or two.
Tauranga Business Chamber chief executive Matt Cowley. Photo / Mead Norton
Bay businesses have become more exposed to global markets since the economic gut punch of Covid-19 forced many local companies online.
But local entrepreneurs are being warned not to risk “what you can’t afford to lose” by mortgaging the family home or losing sight of their humble beginnings when going global.
Tauranga Chamber of Commerce chief executive Matt Cowley said successful New Zealand businesses were great at finding niches often overlooked by larger players.
“Although the niche might be small in a global context, they are often large in a New Zealand context.”
Business Mentors New Zealand Ltd chief executive Sarah Trotman said the company had been supporting entrepreneurs taking their businesses offshore for 30 years.
But Trotman said underestimating the investment of time and money needed for a successful offshore venture was a key concern for business mentors.
Getting the right balance between preparing the documentation, finding a buyer or business partner and ensuring quality relationships with exporters were also concerns, she said.
Looming tradie exodus: February 19
A looming exodus of tradies to Australia is being forecast by industry leaders and one sector has all but given up on advertising jobs because ‘’there’s no applicants”.
Recruitment agencies in Australia contacted by NZME said certain sectors were offering sign-on cash bonuses, additional leave days and more money.
Master Plumbers, Gasfitters and Drainlayers NZ chief executive Greg Wallace said there was a worldwide construction boom so “every country is screaming out for labour”.
Wallace said it had more than 300 apprentices training through Master Link and “some of those will resign on the day they complete their qualification because they are going overseas.
Master Electricians chief executive Bernie McLaughlin said there was a shortage of qualified electricians.
“There is no doubt it is currently an employee market, we are seeing the pay rate for an electrician increasing quickly and the poaching of staff increasing.”
Classic Capital’s corporate investor manager Raymond Gatfield. Photo / Supplied
Kiwis have jumped into share investing with gusto” and property funds are changing as providers look to target cashed-up landlords who have sold or are thinking about it.
One large building group, Classic Captial which has a $300 million partnership with the NZ Super Fund has launched a new capital-raising investment fund to build and sell houses directly to homeowners.
Classic Capital’s corporate investor manager Raymond Gatfield said the new capital raising investment fund would allow it to build significantly more homes faster.
The fund could appeal to disgruntled mum and dad landlords who want to sell their rental properties but stay in the property space as
“We envision in the next 10 to 15 years there will be a lot more corporate landlords”.
The Financial Markets Authority said easy-to-use online investing platforms, a buoyant market, spare time and cash as a result of pandemic lockdowns meant
“Kiwis had jumped into share investing with gusto”.
