Housing crisis now impacting workforce
Decreased productivity, increased sickness and an inability to fill roles are just some of the effects being felt by businesses from Auckland’s housing crisis, according to survey results.
The Frog Recruitment Housing Survey questioned senior managers of nearly 40,000 employees across 25 Aucklandbased businesses from multiple sectors including finance, media, property and food.
‘‘The results of the survey were loud and clear; the housing crisis in Auckland is having a major impact on its workforce,’’ Frog Recruitment founder Jane Kennelly says.
The majority of managers surveyed said they have serious concerns about the impact Auckland’s high cost of living is having on their ability to attract and retain staff and also on some employees’ performance.
‘‘With the median house price in Auckland currently ten times the median income and expected to reach nearly $2 million by 2020, it’s fair to say we have a problem on our hands that is only going to get worse,’’ Kennelly says.
The survey found that the difficulty in housing affordability meant there was a growing number of the workforce renting homes.
Employers cited decreased productivity due to staff moving around different rental properties, and an increase in sickness for those employees who can’t afford to move into better living conditions.
The affordability issues around Auckland housing also presented challenges for employers to attract skilled staff from outside the region, Kennelly says.
Many won’t or can’t come as they know they won’t be able to afford to live here, and highly skilled Aucklanders pursuing a better work life balance are being lost to other regions.
Kennelly says only two thirds of the organisations surveyed have introduced policies to mitigate these issues.
‘‘A flexible mindset is vital if business is going to attract and retain employees in Auckland. Employers cited a need to consider work options outside the square, such as flexible start times outside of peak rush hours, remote work arrangements, commuting allowances or free car parks.
Auckland’s traffic problems also came under fire with work morale impacted by running late worries.