When aiming to recruit the best and brightest talent for your workforce, understanding recruitment cycles can give your organization an edge over your competition. Studying trends within the labour market expose reoccurring patterns that are consistent year after year, such as hiring surpluses that seem to follow every summer. As we move towards the end of the third fiscal quarter, many organizations will find their HR departments preparing to sift through hundreds of resumes and host back-to-back interviews – but why during this time? Well, there are many reasons why the fall is great time for an organization to onboard fresh talent.
The start of summer marks a time when vacationing is on the rise and recruiting often takes a backseat to other initiatives while full resources are absent. As summer winds down, employee vacations come to an end and students return to school, allowing businesses to have access to a larger, more diverse applicant pool. Understanding this characteristic of the recruitment cycle provides organizations looking to hire co-op students and interns for the winter semester, increased staff over the holiday season, or simply new talent before the new year, an advantage over competing businesses. Properly preparing to recruit during this time becomes crucial to any businesses’ chances of receiving resumes from the strongest job searching applicants. Assessing your organization’s staffing needs, having up-to-date job postings, and having a clear understanding of ideal candidates for your required positions, are all integral parts of the recruitment process that should be completed well before the start of this season. Those who are unprepared will quickly find this opportunity lost, as mid-November brings on the busy holiday season, and with it, dwindling recruitment budgets, increased employee vacation time, and an overall focus towards initiatives in the new year.
The Applicants Perspective
From an applicant’s perspective, understanding annual recruitment cycles is undoubtedly beneficial as well. Applicants looking for the next big advancement in their career should be aware that the fall will be a time of increased opportunity, as many businesses will simply be recruiting due to the lack of hiring that took place over the summer months. In some organizations, hiring managers may recruit during this time as remaining operating budgets can be spent on search fees before the year’s end, allowing for the reduction of tax payments. In other industries, organizations will require an increase in staffing during the fall in order to adequately prepare for a more demanding season approaching the business. Take chartered accounting for example, when the fall marks a time when staff must complete interim audit work, September year-ends, and prepare for the tax season that will follow with the start of the new year. It is key to provide appropriate training and integration into the organization before the firm moves into the busiest season of the year, where training resources and time may be limited.
How RLB uses this info
As a firm that offers HR consulting services, it has become essential that our HR team fully understand reoccurring labour market trends and the patterns of the recruitment cycle. Utilizing this knowledge has allowed our firm to experience growth by strategically recruiting new talent into the firm that have contributed to the success of the business immensely. To learn more about recruitment at RLB, check out our Careers page at the following: http://www.rlb.ca/careers/. To contact our HR consulting team email firstname.lastname@example.org