Shaping Business Study
Gain unique insight into the minds of New Zealand business decision makers looking to front-foot an uncertain year ahead. Thousands have responded to our fourth annual survey, offering a glimpse of what’s to come for corporates and regional leaders across key industries.
2019 - 2023
3000+ Decision makers
1 -51+ Full-time equivalent
“Am I the only one experiencing a serious up-tick in running costs?”
See how New Zealand businesses are feeling about costs and pricing in the current market.
Trend Breakdown
Cost & pricing concerns
87% of business decision makers say running costs have increased in the past 12 months
- Down from 90% in 2022
- Up from 53% in 2021
63% have increased their prices over the same time, 54% are planning to increase their prices in the next 12 months.
- Up from 61% in 2022
- Up from 27% from 2021
These and other indications represent the consistent impact of inflation on all businesses, with many having to absorb cost increases either by keeping prices the same or increasing them by less than their costs increases.
“Skilled staff with the supporting resources to do their job”
When asked about the biggest driver of increased productivity in their business, this is what leaders overwhelmingly cited.
Trend Breakdown
People are what makes or breaks a business in 2023
In terms of taking action within their business, these were they top three responses for driving productivity:
- 41% will motivate staff via incentives
- 37% will employee highly skilled people
- 35% will make better use of technology
The importance of high performing staff was heavily reflected when respondents were asked about the biggest barriers to to increased productivity. The top three responses were:
- Demotivated staff
- Staff shortages
- Retaining staff
In a tight labour market with lingering inflation, getting your people strategy right has never been more critical.
“Is technology the difference in kick-starting my business's productivity?”
The numbers paint a clear picture: Businesses making the best use of digital technology are out performing those who are not.
Trend Breakdown
The most productive businesses are those who make the best use of technology
Effective use of technology aligns directly with the performance of a business:
- 76% of thriving businesses say digital technology improves their productivity
- 64% of reviving businesses say digital technology improves their productivity
- 50% of surviving businesses say digital technology improves their productivity
Senior leadership and technology
- 19% of business leaders say they don’t possess the digital skills to help their business get ahead.
Businesses who are struggling should take a look at their digital tools and examine if they are providing enough value to get ahead in 2023.
