Exploring the reasons for significant turnover in the recruitment Industry in NZ and suggested retention factors

Abstract

New Zealand Recruitment market started growing from the early 80’s, hiring talents locally as well as hiring internationally. In a quest for talent with the right industry mix, recruitment consultants work tirelessly to satisfy and keep their clientele contented.

NZ has a limited pool of talents and with a significant number of people leaving overseas for better career prospects and monetary benefits, the New Zealand market is left in jeopardy. Only a limited number of qualified professionals are in the market and with NZ’s stringent labour and immigration laws that are in place, the recruitment industry has huge staff turnover because recruiter’s who don’t generate revenue don’t survive (Toby, 2008).

Recruitment companies according to Taylor (2001) are reporting the arrival of a new breed of highly skilled workers, they are younger, well educated, knowledgeable, extremely confident and not just interested in what they can do for the company, but rather what the company can do for them.

This paper will focus on the causes of staff turnover in the recruitment Industry in NZ and the conclusions will reveal the factors that would retain Recruitment Consultants in their jobs.