It can be tempting to put off hiring until after the holidays. You usually have a lot going on between year-end financials, planning for next year, and personal obligations. However, you must prioritize hiring this month, or you’ll be missing out on a great opportunity to secure new talent. Here’s why:
1. Your competition is taking a break.
Many companies slow way down during the Holiday season. They start prepping for the next year, completely forgetting that they still have one (very good) month left to accomplish goals!
Job openings are reaching a 10-year high throughout the country. According to the Bureau of Labor Statistics, only 24 states were over 4% unemployment in October 2017, which means over half of the country is sifting through the smallest talent pools in the 21st century! So as we head into 2018, an already tough candidate market will be absorbing the “A” talent, and fast!
Take this opportunity to get a head start before everyone else. Historically and generally, January is the strongest month for company’s new hires. Get ahead of your competition by snatching up the best talent NOW, when no one else is looking!
2. Use up that remaining budget!
If your department allocated space in your budget that hasn’t been used yet, now is the time. To keep funds in your budget for next year, you need to hire candidates before the year is up. This will also leave room for additional growth in your budget for next year, and help keep operating costs low.
3. Get ready to hit the ground running in the new year.
Because of the nature of the holiday season, many new projects are slated to start in the new year. The last thing you want to be doing is trying to onboard someone in the midst of starting dozens of new projects. By hiring in December, you get a jump start on getting new talent on board and prepped before you reach the new year. That way, once 2018 hits, you can hit the ground running with an employee who is fully ready to take on new challenges.