The seasons have changed outside our homes as well as inside the business. Whether you live in a place that is warm or are already engaging the cold and snow outside, you may find that many companies are “freezing” their hiring on the inside. They have dramatically shifted from a Summer/early Fall of hyper-recruiting and onboarding to hypo-hiring freezes and intentional delays in filling open organizational chart positions. Also, outside the company, candidates tend to slow down their job search weighing the anticipation of year end activities and eligibility for performance bonus potential.
Why do Hiring “Freezes” happen?
Q4 is upon us and company dollars that were previously allocated for new hires filling the empty seats in the organizational chart are being shifted to other priorities and spending overall is directed to be decreased. Many previously open positions are “tabled” until the new year and in that process, some roles are re-examined for business needs and adjusted or eliminated with the responsibilities being redistributed to current employees. If you have any pulse to business, this is the cycle of recruiting that repeats itself year after year and therefore, it is predictable and we can adapt.
What does this mean for the potential candidate?
If you are currently employed and casually searching and are comfortable sustaining your current position for a while longer, it may be a good decision to tread water for a bit, tabling your search, until we reach Q1 in January. At that time, many more positions will be posted as the new fiscal or calendar year is beginning again. You will have additional choices when making your next career move. If you do have an opportunity to join a new company before the end of the year, it is important to weigh the pros and cons of that transition.
If you have an urgent need to shift, you will have to bring patience and flexibility to address the ups and downs of Q4 opportunities.
Think about these Questions when considering and before the end of the year migration:
- What will I be walking away from if I do not continue your position until the end of 2023?
- Am I accepting an opportunity that will provide experience in a new industry, an escalation of title or job responsibilities, and continuous development?
- Why do I need to make the shift to my next role right now and are there benefits to waiting?
- Am I prepared for a potential gap in benefits if I choose not to engage COBRA?
Trust your gut and if it doesn’t feel like the move is in your best interest, hang tight and wait for another opportunity.
In January, companies will again be investing in hiring efforts, partnering with 3rd party recruiters, providing competitive offers and/or generous relocation or hiring bonuses. The recruitment process will more than likely be expedited as roles may have been vacant for the last few months and the hiring need has become a priority. You will have options for your next work adventure rather than having to discern whether to accept the one offer you received in December. Not to mention, by Q1, in our personal lives, we have navigated through and completed the holiday season which typically includes scheduling intentional PTO, spending dollars on gifts and food, and the benefit of company paid holidays. We can temporarily shift our time and energy to family and friends and temporarily pause the job search.
When you work with Aventure in your job search, your dedicated recruiter can keep the search casually open for you, or “warm,” so that when January comes, you can hit the ground running again. At that time of year, although the earth is frozen outside, the job market heats up and opportunities start to bloom.