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The Human Resources Institute of New Zealand

Human Resources Institute of New Zealand (HRINZ) is the professional body for those involved in Human Resource Management and the development of people.

HRINZ represents the interests of 3,000+ individual members who make up around 45% of the known New Zealand HR market. Read More

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Downward Pressure On Salary Budgets

A study of remuneration and human capital forecasts, shows that national salaries are anticipated to rise by just two per cent in the year to February 2010 – the lowest forecast figure ever reported in the survey’s history.

Mercer’s 2009 Market Issues Survey, which covered 161 organisations, also found that New Zealand organisations are adapting operations to cope with the economic climate: the number of those planning to reduce operating spend has increased by 40 per cent over the past twelve months as a result of reduced export revenues, weak business sentiment and sharply curtailed investment placing pressure on New Zealand businesses.

Furthermore, eight percent of organisations plan to reduce workforce numbers, while 17 percent of organisations have put a freeze on hiring.

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Disclaimer: This information has been written for and submitted to HRINZ for publication and has been published in good faith for the general information of HRINZ Members of the Institute. HRINZ accepts no legal responsibility for the contents of the Knowledge Base and appropriate professional advice and assistance should be sought in particular cases.

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