The start of a new year is the perfect time to start looking for a new career, right? Well, maybe not. Figures show that an estimated 50% of the working population spends most of January looking for a new job. With all of these potential new employees on the job hunt, new studies suggest that the start of a new financial year is actually the best time to find a new career.
December and January are two of the worst months to look for a job for a lot of reasons, why? Those are the months when HR and hiring managers are on leave. This time of year is also the middle of the financial calendar, when most funds have been allocated and spent. For this reason, most companies will finalise budgets and look at hiring new employees in May and June. This is also the best and most common time to set targets and create new positions within companies.
There is also far less competition at this time due to the fact that most people have given up the search by mid-year and have settled in until December again.
The financial calendar also coincides with the Federal Government’s budget, with a number of new job initiatives and investments in the creation of new and innovative positions. In the 2019 Federal Budget, almost $70 billion has been allocated to help small, local businesses move into the global market. This will create jobs for all levels of employment from admin to accounting to warehouse and dispatch of goods. Initiatives like this create jobs that are yet to exist, meaning the chance of getting a role you are suited for is far higher, rather than settling for a role just to make change.
The start of the financial year is also a better time to apply for jobs as it is a busy time of year for almost all businesses, meaning that staff are busier and therefore unable to find the time to apply for jobs, reducing your competition.
Hiring and recruitment companies ramp up their efforts towards the end of the financial year as well, in an attempt to raise revenue. They then put in an extra effort at the start of each financial year to secure companies with which to work throughout the year.
So essentially, if you are looking for a new role, it’s time to start polishing up your resume. The best time of the year to start a fresh career is right around the corner.
If you’re a potential employee looking for a new career, why not check out our Job Listings page? You’re dream career could be a click away. Happy job hunting!
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