Monster's 2018 Year in Jobs Report revealed that the busiest month for job searches happens in January. In fact, eight of the ten top trafficking days fell in the first month of the year.
Although the report didn't specify, I think the spike in job search activity can be attributed to a combination of things that happen at the end of the year -- and, they can be an excellent opportunity for those considering a new job, or for those looking to keep their employees from leaving proactively.
1. The recruitment cycle restarts.
In December, most organizations are winding down in preparation for the holiday break. With the onslaught of vacation requests, plant shutdowns, and out of office replies, most companies hold off on hiring in the month of December.
Instead, they take the time to reforecast hiring needs, establish budgets, and market their most critical roles for the new year. Also, with most employees coming off the holiday break, January is one of the best months to schedule interviews due to hiring managers taking less time off.
2. Bonus season hits.
By the fourth quarter, any employee who is contemplating a job change will likely endure the rest of the year to ensure they collect their annual bonus. With many companies paying out extra incentives around the holiday, employees won't start their job search until they know the check has cleared the bank.
3. New Year's resolutions come to pass.
Then, there's the psychological process we all go through at the end of the year. With the extra time for reflection comes thoughts of turning over a new leaf and reinventing yourself. With our jobs being such a big part of who we are, it is often the first place our minds go when reevaluating our happiness and goals.
If not, your family and friends are sure to make work top-of-mind. With every party, there is sure to come a lot of questions about work, how things are going, and whether or not you're happy.
If you're considering a new career or wanting to proactively ensure your employees are not part of the holiday job shopping, now is the time to act.