The holidays bring about a fervor of activity in the professional world. As individuals, we become preoccupied with gatherings, travel, winter breaks, and shopping. Our companies become sluggish due to non-business days, dwindling budgets, and looming financial reporting. With this in mind, it’s easy to write-off recruiting and hiring until the New Year.
Supporting that decision is the fact that the average professional doesn’t realize that while their busy lives at the far end of the calendar year may slow down, it's often the opposite for the companies surrounding them. The obvious examples are the retail and financial services industries. While many people are planning their vacation time, these industries are ramping up into their busiest time of year. Naturally, this means come November 1st, these companies have already thoroughly analyzed their staffing requirements and are beginning to adjust to meet their expected operational demands.
The holidays also mean for many companies there is a ticking clock on their fiscal year. So as the calendar starts to flip over, many companies become heavily invested in finalizing their business and budgetary goals; often increasing their job force, closing out final deals, and negotiating acquisitions of new projects. They want to be assured that when they return on January 2nd, they’ll have the firm footing needed to carry over the previous year’s successes. The thing to remember though is not every company’s fiscal year ends on December 31st.
Hiring and the Fiscal Year
Showing a strong fourth quarter doesn’t just allow you to end the fiscal year on a high note. Companies such as Apple Inc. and Microsoft Corporation all have strategically aligned their fiscal year to suit, among many things, their hiring needs. Financial reporting and fourth quarter wins land during a period of the year that sets them up best for the holiday season sales boom.
For example, companies with a fiscal year end falling on September 30th have their first quarter during the entire holiday period (October 1 through to the New Year). This means their strategic recruitment and hiring budgets are at their largest during this time. This allows them to confidently get ahead of their competition and “staffing up” before recruiting gets hindered by the New Year’s Resolution Effect.
The New Year’s Resolution Effect
New Year’s resolutions spark a wave of self-evaluation and changing behaviors in professionals from all corners of the industry. Often, this leads to looking for more fulfilling opportunities.
Perhaps conveniently this period of reflection and commitment to new opportunities coincides with a boom in the jobs available due to the turn of the New Year. Refreshed operation budgets and new business goals allow companies to come back to the office on January 2nd with all their tools at their disposal to make large commitments to recruiting and hiring.
The problem for both sides, job seekers and hiring companies, is this premise holds true for so many professionals and industries. New Year’s resolutions and new budgets draw everyone into the open market, and the ensuing noise of job postings and applications can be daunting for all sides.
The New Year’s Resolution Effect has a tendency to bog down the internal processes of even the largest HR departments. Moreover, as time passes, it becomes exponentially more difficult and costlier to land the “right” candidate.
Tips to Hire with Confidence During the Holidays
With the New Year’s Resolution effect and budgetary logistics in mind, here are some tips to be able to confidently approach hiring decisions during the holidays.
Be Prepared: It should go without saying that for any hiring process the more you plan ahead the better. Think through your budgets, internal processes, vendors, timelines, and communication before getting underway.
Concise and Clear Communication: Have an established communication plan that works with the holidays in mind. This will help keep your hiring and recruiting staff focused on a clear message to deliver to any candidates and support your own processes when travel and time off start playing a role.
By being clear about your timelines and acknowledging to your candidates that the holidays play an important role to both parties, you can foster trust and transparency, both of which are essential to attracting the best candidates.
Promotion/Marking: Have a strategy in place for how you are going to promote your company prior to your active recruitment phase. Focus on your brand and company culture so when candidates do start researching your openings, they can find encouraging materials that will entice them to get in contact and apply.
Seek Passive Candidates: Get ahead of your competition by seeking out candidates who aren’t actively searching for a new career. Reach out to connections and find ways to get in touch with people who would be ideal for your openings and just don’t know it!
At the very least this approach will help keep your company in the minds of the top talent in your area and ideally it will bring highly qualified candidates through your door before they ever start applying elsewhere.
As an added bonus, this will help your job positing’s from getting lost in the white noise when the New Year’s Resolution Effect begins.
Don’t Worry, Comrise Can Help Any Time of the Year
At Comrise, we understand the internal and external demands of recruiting during the holidays. We firmly believe that any time of year there are candidates that we can connect your company with who will help you to succeed regardless of what quarter you’re in.
Our robust database of professionals and our industry-best technology and tools can reach top-tier candidates prior to the New Year’s Resolution Effect taking; giving you an added strategic advantage during this busy time of year.
With that, even if your company desires to wait until the start of the New Year to begin any hiring or recruiting campaigns, Comrise can help you cut through the noise and reach applicants that we can assure will make lasting impacts and become long-term assets to your company.
At Comrise, we believe that each of us can “Be the Spark” that leads to new beginnings. So regardless of if the New Year means a new beginning or just the beginning of a new month for your company, we can bring you the very best recruiting and hiring solutions.