A recent report by recruiter Hays positioned New Zealand at the forefront of talent deficits. The country is facing a shortage of experienced candidates to fill roles in crucial sectors such as technology, engineering, manufacturing, banking, and finance.
Hays reported that New Zealand, alongside Switzerland, Portugal, Britain, and Canada, has a workforce in which 19% to 23% possess only 0 to 3 years of experience.
According to Hays, for the ten countries experiencing the most significant talent deficits, there are only between one to six professionals available in the industry for each open position.
Countries such as the United States, Brazil, China, India, and Germany have the strongest supply of talent available. Colombia is also rapidly turning out to be a promising destination for tech talent, offering an average annual salary of US$13,723 for tech professionals.
Approximately 57 million people are employed in technology worldwide, with 853,000 job openings currently advertised. The engineering sector has 112 million workers, with 877,000 job listings, while the banking, financial services, and insurance sectors employ 46 million people, with 843,000 vacancies available.
Hays also identified the top 10 in-demand and emerging roles in the tech sector. These are:
- Software Engineer
- Project/Programme Manager
- Systems Engineer
- Data Analyst/Scientist
- Systems and Solutions Architect
- Information Security Specialist
- Business Analyst
- DevOps Engineer
- Account/Sales Manager
- Cloud System Architect
Meanwhile, a separate report stated that New Zealand is experiencing an unprecedented exodus of its citizens, with a record of more than 50,000 Kiwis departing in the year leading up to March 2024. The rising migration rates among Kiwis combined with a shortage of skilled talent, may impede New Zealand’s economic growth, stifle innovation, and diminish the country’s future potential.