EOFY means it’s no time to chill
New year will get the job market fired-up
THE new financial year brings fresh activity to the job market as projects finish up and new goals are set. Along with the new calendar year, it is a time when employees traditionally reassess their careers and make the decision to stay or go.
Hays recruiter Darren Buchanan says now is a popular time to make changes as it is linked to appraisals and a sense of wrapping up the previous year.
“It can prompt people to start looking around,” he says. “They think ‘I have finished my project, the next year is beginning. Do I want to be doing something a bit different?’.
“Especially when it comes to temporary work, when the financial year ends ... if you finish the project, you may not have a job any more.”
Outplacement Australia career transition consultant Gillian Kelly says the accounting sector is another example of a group of workers likely to move around at this time of year.
“While it’s important for job candidates to be aware of peak hiring trends so they can apply when the job vacancies are listed, we tell people that sometimes applying in the off-peak periods means your competition may be quieter,” Kelly says.
“Additionally, the off-peak periods are sometimes the times you can build relationships and lay the ground work so that when opportunities present down the track, you are already known to the company and have a headstart.”
Although seasonal trends exist, the biggest factors influencing job changes come down to the workplace and individual.
Randstad whitepaper Employer Branding 3.0 reveals 70% of surveyed workers intend to leave their organisation in the next six to 12 months.
The top three reasons employees plan to leave are a lack of career growth opportunities (51% of respondents agree), inadequate compensation (39%) and poor leadership (36%).
Work/life balance issues and a lack of recognition and rewards (both 34%) also ranked highly for more than one in three respondents.
For employees who plan to stay with their organisation, the top reasons are good work/life balance (62%), competitive salaries (42%), flexible working arrangements (38%), pleasant company culture (35%) and recognition for their work (33%).
When looking for a new job, workers look for a good salary and employee benefits, first and foremost, followed by a pleasant working environment and long-term job security.
❝ It can prompt people to start looking around — Darren Buchanan