Mike's Minute: The pay rises are fine, until the economic reality comes
At PWC in Britain, the pay rise coming is 9 percent. They employ about 20,000 locally. Some pay rises will be as high as 10 percent . The chairman says you can't ignore reality, which is true.
Given the job market, if you are not offering the 9 percent, someone is. And that person will be hoovering up the scare resource that makes up today's labour market.
Locally, Air New Zealand is offering in house bonuses to those who nominate people who can be hired. They currently have about 1100 jobs up for grabs. I was shown an ad last week for a job at TVNZ, they are offering five weeks leave. And…
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