Every October, do you wait for the new year to hire? You’re not alone. Many recruiters and employers think that it’s a bad idea to hire at the end of the year when things are slowing down anyway, and prefer to resume hiring in the new year. We disagree – we think this is one of the best times of the year to hire.
Here are 3 reasons to hire before we the new year.
You run a risky game not hiring a talented candidate as soon as possible. You may be waiting for the new year to take on new employees, but candidates aren’t. More often than not, they’re eagerly looking for new work and may jump at other offers as they come along. You may be able to wait to the new year to hire, but they can’t wait for the new year to find work. This means that you lose out on great talent that will then be benefiting another company.
While sometimes there’s a perfect match between employer and employee right away, most of the time it takes a while. On average, it takes about 3 months to find the perfect candidate, so delaying until January could mean only finding your ideal fit in March. Rushing the recruitment process is financially risky. According to a PwC case study, hiring the wrong General Manager (just one employee) can cost your company as much as R320,000 AND you’ll be back at square one. All while navigating arguably the busiest time of the year. Planning ahead to give yourself the time to hire properly will give you the best chance of finding someone ideal.
January and February are busy months. The last thing you want is to divert precious time and resources to training when so much else needs attention. Even if your company doesn’t close over December, things tend to slow down at the end of the year. This means a gentler induction process that allows space for more in-depth training and getting to grips with the new systems. This means that your new team member will be fully trained and ready to go by January so you can hit the ground running in the new year.