A recession is a period of economic decline that typically lasts for more than a few months. It is characterised by a significant drop in economic activity, such as GDP, income, employment, industrial production, and retail sales. A recession can have various causes, such as financial crises, trade wars, pandemics, natural disasters, or policy mistakes.
A recession can have a significant impact on the recruitment industry, as it affects both employers and job seekers. Employers may face challenges in hiring and retaining talent, while job seekers may face difficulties in finding suitable opportunities. In this article, we will explore how a recession affects recruiting in Auckland and New Zealand.
Auckland is the largest and most populous city in New Zealand, as well as the main economic hub of the country. It is home to many multinational corporations, startups, and creative industries. According to the 2020 census, Auckland had a population of 1.7 million people and accounted for 25% of New Zealand’s GDP.
Recruitment in Auckland can be affected by various factors during a recession, such as:
Recruitment companies are businesses that provide services such as sourcing, screening, interviewing, testing, and placing candidates for various jobs. They typically charge fees based on the number of candidates they place or the value they generate for their clients.
Recruitment companies can be affected by various factors during a recession, such as:
A recession can have various effects on recruiting in Auckland and New Zealand, as it affects both employers and job seekers differently. Recruiters need to be aware of the changing trends and challenges in the market and adjust their strategies accordingly. They also need to leverage technology and data to improve their efficiency and effectiveness in finding and attracting talent.