Retaining key workers top priority in wage-setting decisions

(Image: Getty)

Thu, 23 Mar 2023

Retaining hard-to-replace workers was a key consideration in wage-setting decisions for three-quarters of businesses over the past two years.Data from Statistics New Zealand's annual business operations survey found that it was the most important factor for businesses in deciding how much to pay workers.Almost half of the businesses also said competing with other firms for staff was a key factor in wage-setting decisions.NZ, along with many other countries, experienced a severe labour shortage since the beginning of the covid pandemic, whic...

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