The Importance of Having a Diversified Migrant Workforce in New Zealand

Diversified migrant workforce is essential for innovation, addressing skill shortages, and ensuring business success in New Zealand.
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Last Updated On June 29, 2023
Contributors: Denise Renshaw. Edited By Inder Singh & Reviewed by Yongtian Liu.

In an increasingly globalized world, it is imperative for businesses to adapt and evolve. Employers in New Zealand (NZ) who recognize the necessity of embracing a diverse workforce are setting themselves up for success. The inclusion of migrants in the workforce is not just nice to have; it is an essential component of thriving in the modern business landscape. Here, we’ll discuss why having a diversified migrant workforce is crucial for NZ employers.

A Panacea for Skills Shortage

One of the most pressing issues in the NZ labor market is the skills shortage. With the rapid advancements in technology and industry, the demand for specialized skills is skyrocketing. The local talent pool is often insufficient to meet these needs. Migrant workers, with their varied expertise and experience, can fill this void effectively. Employers who fail to tap into this resource are likely to find themselves struggling to compete.

Enhancing Innovation Through Diverse Perspectives

Innovation is the lifeblood of business. To remain competitive, companies need to constantly innovate and improve. Migrant workers bring a wealth of diverse perspectives and experiences. This diversity is a breeding ground for creativity and innovation. A homogenous workforce can become stagnant, whereas a diverse team is more likely to challenge the status quo and think outside the box. Employers who don’t embrace diversity are essentially turning their back on innovation.

Addressing the Aging Workforce

New Zealand, like many developed countries, is facing an aging population. This means that a significant portion of the workforce is approaching retirement. The loss of these experienced workers can be crippling for businesses. Migrant workers offer a solution to this problem. Younger migrants bring energy and fresh perspectives, while older migrants contribute experience and wisdom. Ignoring the role of migrants in addressing the aging workforce is akin to digging one’s own grave.

The Cultural Intelligence Quotient

With globalization, businesses are no longer confined to their local markets. To thrive internationally, cultural intelligence is crucial. Migrant workers often have firsthand experience with different cultures and can provide insights that are invaluable in navigating international markets. Employers who disregard the cultural intelligence brought by migrants are essentially blindfolding themselves in the global arena.

Building a Resilient Workforce

In times of economic uncertainty, having a diversified workforce can be a saving grace. Different backgrounds and experiences mean that migrant workers might have different approaches to problem-solving. This diversity in thought and action can lead to a more resilient workforce that can adapt to various challenges. Employers who do not diversify risk having a brittle workforce that may crack under pressure.

Strengthening Your Employer Brand

In the age of information, your employer's brand matters. A company that is known for its inclusive and diverse workforce is more likely to attract top talent from around the world. Conversely, companies that don't embrace diversity may develop a negative reputation, which can be detrimental to attracting and retaining talent.

Conclusion: Don’t Miss the Boat

The benefits of having a diversified migrant workforce are numerous. From addressing skills shortages and enhancing innovation to building a resilient and culturally intelligent workforce, the positive impacts are undeniable. Employers who fail to recognize the importance of migrant workers are not only missing out on these benefits but are setting themselves up for failure in an increasingly competitive and globalized business environment. The time to act is now; don’t let your business miss the boat.