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New Zealand Needs More Highly Skilled-workers according to study

November 2013, 19
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NZ Skilled labour
According to Hays Global Skills Index, NZ is short of high-level skills and there is a huge gap to fill in the on-going projects as well as the future projects. This might ring bells in ears of those who want to apply for a skilled migrant visa to New Zealand.
 
The index covers 30 countries and it assesses the labour supply and efficiency of skilled labour supplied. The scale of the index ranges from 0-10, the greater index score implies difficulty in finding skilled labour for employers. A score between 0-5 would indicate that there are less chances of finding skilled worker shortages for employers, whereas a scale in between 5-10 would indicate higher signs of skilled labour shortages.
 
New Zealand has a score of 4.3 in the index and this suggests that employers in New Zealand are, for the most part, fine in finding the right candidates with skills according to the demand. However, there is a clear short supply for highly skilled workers, which is clearly visible from the upward pressure. New Zealand Immigration is attracting highly skilled professionals through its Skilled Visas to New Zealand policy aimed at filling this gap.
 
With the re-build of Christchurch, the complete global growth outlook of NZ will be firmer and the employers will be able to attract experienced and highly skilled professionals easily. The unemployment rate is forecasted at 6.2% this year and this further adds to the pressure on employers.
 
The total index score is determined mainly using seven major indicator scores. Education flexibility, talent supply, flexibility and participation of labour market, mismatch of talent, wage pressure related to highly skilled industries, overall wage pressures and wage pressure coming from highly skilled professions.
 
The shortage of highly skilled talents puts excess amounts of pressure on employers as they are forced to increase salaries to meet the shortage and attract great employees. Labour market participation has a score of 6.1, which gives hope in utilizing the existing talent pool to the maximum. Study also suggests that New Zealand should accommodate highly skilled professionals belonging to the age group 55-64 to get more out of its workforce.
 
According to Hays, the skills in most demand are for Software developers, Quantity Surveyors, Chartered Accountants, Civil Engineers and Sales Professionals. It is the right time for anyone outside New Zealand to apply for a highly skilled migrant worker visa to New Zealand. The economy is expected to grow further and the easy availability of skilled worker visas to New Zealand for the right candidates will ensure that the demand and supply will be maintained at a healthy index in the future. 

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