The view from the ground floor

Things are tough out there. Unemployment is trending upwards, with 148,000 people out of work, with it set to rise again, upwards of 5% plus.

It’s no surprise that redundancies will continue in the foreseeable future, with some people facing a second wave of cuts. People who have been in careers all their adult lives, including our highly skilled early to mid-career twenty somethings, and people in the manufacturing industries; it’s impacting everyone.

Distinguished Professor Paul Spoonley had an important point to make yesterday on Radio NZ.  New Zealanders are leaving in droves, and according to Stats NZ, the “138,600 migrant departures in the May 2024 year are, provisionally, the highest on record for an annual period”. While information is no longer recorded on why people are leaving New Zealand, the current state of the labour market does beg the question as to whether our best and brightest are leaving in search of more stable and better paid roles.

Youth unemployment also continues to be concerning, with apprentices being left in a precarious position as firms close. Even further, the University of Canterbury is no longer accepting any more students into hostel accommodation next year, suggesting that young people are choosing study, rather than enter a tough work environment. Competition for flats will also be difficult as students look for housing so they can attend their study programmes.

Many of those people close to retirement are choosing voluntary redundancy. But what happens to organisations when all that experience, skill and institutional knowledge walks out the door?

Those who are left in the workplace post initial restructuring are anxious and nervous as they remain in a tenuous and insecure position, not knowing whether they are facing further cuts and what they need to do to help themselves survive the next retrenchment. Especially when many organisations just cannot afford to provide paid support for their redundant workers.

Along with this, competition for jobs is fierce - there are a huge number of people applying for advertised roles, and those roles pay less than they did a year ago.

When times are challenging, career development support can help. At a minimum sharpen your CV, your interview skills, and identify tips for looking for work that isn’t advertised. Ensure your identity is kept separate from your work, so you maintain a strong sense of self and keep mentally well – remember you are not your job! Importantly and essentially, career development can help you to protect, maintain and grow your value in the labour market, by determining your strengths, personality, skills, values, motivators and the unique ‘you’ you bring to your community and world. Access to career development may be free through your Employee Assistance Programme provider. It’s worth asking as it’s worth investing in you.