End of 2025 Market Update

As we head into the summer break (and a well-deserved one after the terribly marketed ‘Thrive in 25’ debacle), we wanted to share a wrap up of key trends we’ve seen across the employment market this year.

Hiring activity in the latter part of 2025 has lifted after a slower 2024. Businesses remain thoughtful and intentional with their recruitment decisions. Candidates have taken a considered approach too, placing more emphasis on business sustainability, flexibility and culture when exploring new career opportunities.

We saw AI, digital transformation and flexible work models continue to reshape how organisations hired, planned and built capability. Certain skillsets remain in strong demand while others have slowed, and outward migration has played a part in leaving gaps in the NZ workforce – mainly newly qualified profiles heading offshore.

More on this below. We hope this update helps you feel informed and prepared heading into 2026.

From all of us at Consult Recruitment, thank you for your support and trust this year. We wish you and your families a wonderful summer break.

Angela Cameron, CEO @ Consult Recruitment

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Big themes across the NZ job market in 2025

1. Slower but smarter hiring

2025 was a year defined by more deliberate, strategic hiring. Organisations were recruiting again, but the previous rush to fill roles was replaced by a focus on long-term fit. Many employers worked to maintain team numbers, using restructuring and careful replacement hiring to reshape capability. With budgets still under pressure in parts of the year, retention became a priority once again especially in areas where finding top talent remains challenging. Growth roles didn’t feature as part of the employment landscape, but we’re hopeful to see their return in 2026!

2. Confidence creeping back

Confidence also began to make a slow return. As economic conditions stabilised, businesses felt more comfortable moving ahead with hiring plans that had been paused in 2024. At the same time, job seekers became increasingly open to new opportunities with top-tier candidates continuing to weigh multiple offers. Many organisations are indicating and planning for team uplift – particularly for the latter part of 2026.

3. The AI effect

AI capability is steadily increasing with many organisations adopting AI at a practical level – using AI to streamline internal operations, automating repetitive tasks and improving processes. While interest in AI is high, true maturity is still developing, and many companies are still experimenting rather than fully integrating AI into their operating models. This shift has naturally fuelled a growing demand for AI-related roles, yet talent remains scarce for professionals with deep commercial AI experience due to its market infancy. Businesses remain in different stages of their AI journey – some are actively hiring and scaling AI teams, some exploring what AI could mean for their business and some still hesitant for all sorts of valid reasons.

4. Work flexibility

Flexibility remains a key ask for talent, even as employers are increasing in-office expectations. Hybrid remains the preferred model although we’re still seeing huge differences in flexibility offered by industry – in manufacturing / FMCG / physical industries we see less flex than in services businesses. Some organisations are seeing the impact on training, culture and productivity due to extensive WFH, and are seeking a more balanced work approach for long term success.

5. Adaptability & agility

Employers are looking for adaptability, transferable capability, strong learning agility and mindset. Organisations are looking to take on bright, driven candidates who show curiosity and potential, above someone who has all the skills. With new tools and systems reshaping workflows, mindset and ability to be curious and learn is becoming more important than ever. Soft skills are anticipated to be in hot demand moving forward: communication, energy, ambition, problem solving and curiosity remain in demand.

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Hiring volumes are on the rise, this has been a gradual shift rather than the boom we had during Covid & the lockdowns. Businesses are still very thoughtful when it comes to who they hire for permanent roles and this reflects in the time taken and number of interviews candidates are navigating.

Contract recruitment has finally made a comeback after a very lean 18 months. We’ve experienced a noticeable uplift in the last 6 months with business confidence returning and a willingness to stand up new project work having ‘kept the powder dry’ during the last FY. We’ve experienced a particular uplift in demand for BA’s which bodes well for 2026 as this demand flows through to technical roles being added to project teams.

The key areas of skills shortages are currently in the BA market, Cyber Security, Big Data & AI. I see these areas continue to struggle as NZ lags behind other parts of the world in terms of skills and experience, this will be most evident in the demand for AI specialisms.

On the talent side, we continue to find candidates talking about and making the move offshore particularly to Australia in search of better pay & lower living costs. Australian recruiters have been targeting skilled workers in NZ both on job boards and via Seek Talent Search & LinkedIn.

There’s a push from employers to get staff back into the office, and on the flip side of this, flexible & remote working continues to be the most important thing to candidates looking to make a move. Clients that do not offer flexibility are missing out on top tier talent because of this.

I am confident 2026 will be a happier year for people in Tech and the wider economy, we’ve been experiencing green shoots since mid 2025 and my prediction is slow and steady growth for 2026 returning to pre Covid demand across Technology & Digital by 2027.

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Over 80% of organisations in New Zealand are now using AI in some capacity, primarily focussed on using AI for data analytics, automating repetitive tasks and improving customer service (e.g., chatbots).

This has caused a growing Demand for Specialists yet dedicated talent remains scarce – only 23% of businesses employing AI specialists in 2025 and yet struggling to do so. Added to the indication that many of our clients plan to hire AI-related roles in the coming year, indicating a significant increase in demand in 2026.

We’re already seeing salaries rising almost 30% in the last quarter for these roles, so realistic budgets need to be in place if you want to both secure and retain your critical talent.

2026 will see the emergence of ‘Agentic AI’ – Businesses are preparing for more advanced, autonomous AI systems (agentic AI), which are expected to further reshape workflows and increase the need for human skills like critical thinking, ethical judgment and creativity. The constant shift in AI technology means many of our clients are taking a cautious approach to investment and strategy, to future proof for the longer term view.

Other areas of demand continue in data, security and delivery.

Clients are also feeling the fatigue of using offshore partners, experiencing high fees, poor quality and slow progress. They are exploring onshore options as an alternative realising they could do more for less at a faster pace.

Transformation updates:

Wrapping up Transformation for 2025, in New Zealand we didn’t see anything overly transformative, but investment started again in the latter half of this year driven by the need for operational efficiency and resilience amid a challenging economic environment, with a strong focus on AI adoption, workforce flexibility and embedding sustainability into core business strategy.

Predictions for Transformation in early 2026:

Looking ahead, AI and Technology will continue to act as major productivity drivers. AI adoption surged dramatically in 2025 and will continue to be a pivotal strategic driver for many business cases and programmes. At the same time, persistent skill shortages (especially in high-demand areas like AI) could begin to slow delivery for certain initiatives. Companies will need to align with specialist Talent partners who can truly help the scale and flex at pace.

With a more optimistic economic outlook (GDP growth projected at 2.7%) and planning for FY2026 complete, businesses are expected to accelerate investment in the digital and technology space. The focus will be on leveraging technology for long-term competitiveness and growth.

Further momentum is likely to come from the Government’s “Going For Growth” agenda, which aims to create a supportive environment for business expansion through regulatory reform, investment in R&D and promoting global trade and investment. Key legislative changes, such as those related to the biotechnology industry and the public sector’s digital infrastructure, are anticipated to drive further transformation.

There will be a focus on Relational Leadership. To manage the evolving workforce and maintain engagement in flexible environments, there will be a greater emphasis on new leadership models that build trust and focus on people and culture, rather than just task management.

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This calendar year has been a rollercoaster in Accounting and Finance permanent recruitment, there have been a few factors we’ve noticed influencing the market.

Generally the downturn has lasted longer than businesses expected, many businesses held on to headcount hoping things would improve, as a result of this we saw a few more redundancies coming through during the winter.

In contrast to this, we’ve seen a continued flow of people immigrating, particularly to Australia, mainly in the 90-150k salary range, but also more senior people moving too. This outflow of talent has added further pressure to an already tight market, so while many organisations think it will be easy to hire good candidates, the reality is the talent pool is very small and it is hard to find top talent.

In the October quarter, we’ve seen a positive lift in hiring confidence from companies and candidates are starting to feel more comfortable considering new opportunities.

We’re expecting the market to be more “normal” and less “lumpy” from April next year, but we’re also expecting there to be challenges finding top talent (shortages) particularly in the 100-180k range.

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Contracting opportunities fluctuated depending on the type of work. Undoubtedly there’s been a drop off in many of the areas that drive contract recruitment; M&A and the PE/VC space has been slower this year, systems implementations have been paused and generally investment or growth has been reduced.

We’ve seen fewer commercial roles in the contract space which feels like the reverse of the permanent space. From what we’re seeing, the senior FP&A / business partnering space has been slower for contract, likely due to reduced project flow. As companies have been asked to reduce their cost bases many CFO’s have realised they have to maintain their regulatory functions so any contractor drop off has been in the commercial space.

On the up side, some areas have grown, the truth is the mass exodus from Auckland (both to Aussie / UK and internally to ChCh) has actually created plenty of opportunity too. While I have seen a few CFO’s make the move to Sydney, most have worked there before or have family links. Most of those going overseas still tend to fit a certain criteria; relatively recently qualified, ambitious, often audit trained and looking to join friends and peers abroad for the simple things in life, money and career opportunities. We’ve also seen a demand for credit controllers from certain industries (in any economy there will always be winners).

As these professionals have departed en-masse, we’ve been kept busy trying to replace them both temporarily and permanently. We’ve seen a recent upswing in arrivals from the USA, the UK and Ireland, all escaping the issues we complain about here (cost of living, lack of housing and an adventure overseas!). While this has helped plug the gap, we’re still finding that those whose skills match the Kiwi OE crowd are snapped up pretty quickly and could do with more talent. What has been nice to hear as someone who moved here for the long term in 2020, is that newcomers now intend to settle immediately while in the past, most would “give it a year” before deciding.

We’ve also seen a huge number of contract extensions (a good sign of the calibre we’re placing) but also potentially a sign that projects are starting to kick off and that employers still like the flexibility of bringing in high-quality contractors as business needs evolve.

In short, I think the market will feel very different depending on the space you are in. While some have been having a great year replacing those going on OE, others with great systems / senior commercial backgrounds have had a really tough year.

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The tax sector in New Zealand is demonstrating sustained strength nationwide, driven by continuous demand for specialist tax practitioners. There’s an ongoing need for specialists in areas such as tax compliance, advisory services, and niche fields including employment tax and property tax. Recruitment mandates are active across both the North and South Islands across Big 4, Mid-market and Boutique practices; highlighting the widespread and enduring opportunities within the market.

Professional services firms are increasingly seeking experienced candidates who can navigate complex tax frameworks and provide strategic guidance, reflecting the sector’s critical role, as most industries and corporate businesses across NZ are outsourcing their tax needs to specialist tax firms.

Across NZ’s professional services sector, hiring activity remains stable and consistent. Key areas experiencing strong demand include business advisory (VCFO), specialist tax, corporate finance and deals advisory, and restructuring insolvency (R&I) service lines. Employers are actively seeking professionals capable of delivering high-value insights and practical solutions, ensuring organisations maintain operational efficiency and regulatory compliance. This consistent demand signals resilience in the professional services market, even amid broader economic fluctuations. With AI automation in play, focus is on genuine client and stakeholder management.

Leading consulting firms, particularly within the Big 4, are increasingly focusing on management consulting growth, signalling a shift towards strategic and transformational roles. Opportunities are emerging for professionals involved in business case development, strategic project management, and transformation delivery for both governmental and private sector clients, particularly in the key hubs (Auckland and Wellington). Hiring trends show strong demand for experienced managers and senior managers who can drive organisational change and deliver measurable impact, reflecting an evolution in consulting priorities from traditional compliance and advisory services to strategic, high-value engagements.

Key 2025 Trends:

• Strong demand for specialist CA and tax professionals across advisory, compliance, and niche areas.

• With introduction of AI focussing on core compliance tasks, increasing focus on skills-based hiring, with emphasis on soft skills and adaptability.

• Tight talent market driving higher compensation and retention efforts.

Themes for 2026:

• Shift towards advisory-first and strategic business models in accounting firms – with AI and offshoring remaining popular options in the professional services industry.

• Flexible, hybrid recruitment models remain key to attracting (and retaining) top talent.

• Focus on employer branding and talent retention to mitigate workforce movement (counter offers etc) as the gap between Big 4 and mid-market firms narrows.

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Outlook for 2026.

Looking ahead, we are anticipating an improved but change-filled year ahead in 2026 across all specialisations.

• Hiring volumes are expected to lift as organisations move past the softer conditions of the last 18 months.

• Confidence will continue to build, and the war for top talent and skills (especially in specialist areas with shortages) will ramp up again.

• AI will keep evolving roles; a combo of both role replacements, particularly in administrative type roles, but also changing roles fundamentally (not replacing people but demanding new human skills: adaptability, empathy, collaboration and judgment).

• Professionals will keep heading offshore and NZ will continue feeling the talent gap, especially for top talent. While inbound talent helps, it won’t fully replace the volume or the skillsets leaving.

• The best employers will win on culture, flexibility and growth pathways, not just pay.

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As always, we’re keen to hear from you, so feel free to reach out to us with any feedback or questions: info@consultrecruitment.co.nz.

Thanks for your support in 2025! Some of our highlights this year:

www.consultrecruitment.co.nz

Authors:

Angela Cameron, FCA, FCPA | CEO @ Consult

Mike Messenger | Technology & Digital Manager @ Consult

Sarah Quintal | Enterprise & Transformation Manager @ Consult

Crispin Robertson | Accounting & Finance – Permanent Recruitment Manager @ Consult

Sam Patterson | Senior Consultant – Accounting & Finance Contract @ Consult

Harry Dev Singh | Professional Services Manager @ Consult