For the first time since the earthquakes, the IT sector is experiencing a significant boost in competition within the industry. The rebuild has brought some good opportunities, but also a good deal of competition for roles, and employees are upping their game in response and taking the chance to demand more from their employers.
The uncertain period since 2011 led to many employees placing job security above anything else, but there is a sense that employees are now seeking more challenges, opportunities and remuneration.
There is new evidence that businesses have become comfortable with their wage rates, but as the sector grows employees will be looking for more competitive offers. Most emplyers believe they are paying the market rates, but the past 12 months have seen
an increase to 35% of employees saying their salary does not meet their expectations (based on their skills and the industry average).
While survey responses generally acknowledged a dip in the importance of salary after a significant time in the industry (seniority) and after a certain salary level was reached, it would seem that the importance of strong remunderation has generally increased in importance (to 85%) for those considering employment opportunities. Indiciations are that this is for purposes of family provision, keeping up with increasing living costs in Canterbury and inflation. Many employees noted the importance of fair remuneration in comparison to market rates and the desire to have steadily increasing remunerations (ideally anunally).