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Hiring in Uncertain Times: Why Businesses Are Taking a More Cautious Approach
If it feels like business confidence has been a little shaky lately, it's not your imagination.
Over the past year, businesses around the world have been navigating a steady stream of geopolitical and economic uncertainty. Ongoing conflicts in the Middle East, the war in Ukraine, and renewed trade tensions between major economies have all contributed to market volatility and uncertainty around global growth. While these events may seem distant from New Zealand, they have a real impact on business sentiment here at home.
Adding to this is the concern around inflation. Although inflation in New Zealand has eased from its previous highs, the cost of doing business remains elevated. Insurance, wages, utilities, transport, and supplier costs have all increased significantly in recent years, and many businesses are still feeling the pressure. Globally, there are also concerns that disruptions to trade and supply chains could place upward pressure on prices again.
The result is that many New Zealand businesses are becoming more cautious with their hiring decisions. It's not that the need for talent has disappeared. In fact, many organisations still need additional capability and capacity. The challenge is confidence. Business owners are asking themselves questions like: Will demand remain strong? Could costs rise further? Is now the right time to commit to another permanent salary?
This caution is understandable. However, there is also a risk in standing still. Delaying hiring decisions for too long can place additional pressure on existing teams, slow growth initiatives, and leave businesses underprepared when conditions improve.
Periods of uncertainty often reward businesses that remain agile. Rather than pressing pause entirely, many employers are looking at ways to build flexibility into their workforce planning, carefully investing in talent, using temporary or contract solutions where appropriate, and ensuring they have access to the skills they need to respond quickly to changing market conditions.
Economic uncertainty may influence how businesses hire, but it doesn't change one fundamental truth: good people remain one of the most important investments a business can make. The challenge in today's environment is finding the confidence to plan ahead while remaining adaptable enough to navigate whatever comes next.
Build success in 2026 with the right people, at the right time — let’s chat.
Amanda Hoffman
Recruitment Specialist and Branch Manager
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