In a strong job market, bringing in the best available talent is often a contrarian venture for shrewd employers. It’s about running against the pack in order to work supply and demand forces in your favor. Here are the reasons why your hiring program for 2019 should begin as soon as possible:
- When Industries Hire Aggressively, It Pays to Be Opportunistic
According to the 2018 Manpower Employment Outlook Survey, employers in all 13 nationwide U.S. industry sectors expected to add to payrolls during Quarter 3, 2018. The industries with the strongest seasonally adjusted employment outlooks were:
- Leisure and hospitality +27%
- Wholesale and retail trade + 22%
- Transportation and utilities + 22%
- Professional and business services + 22%
Also notably active:
- Construction +19%
- Financial Activities +16%
Looking forward, regional hiring projects to be strong in the South over the next few months. Staffing levels in the region are expected to grow by 24 percent and the outlook is stronger than it has been in 10 years. Given this strong and steady hiring pace and the possibility of a Quarter 1 surge in hiring, the holiday period may represent an opportunity to hire with less competitive pressure.
- Integrate, Onboard, and Train New Employees
At the start of the year, budget planning, sales kickoffs, customer meetings and a variety of other business activities often conspire to delay the best-laid plans for new employees. The end of the year at your business may be a slower and easier time to give new employees the attention they need for a successful start. It also makes new employees feel more comfortable in seeking answers from colleagues who aren’t inundated with work. If you’re hiring for business-critical functions, the end of year is the right time to hire, based on this reason alone.
Onboarding at the right time can improve job satisfaction, organizational commitment, and performance levels. Learn more about How to Successfully Onboard New Employees.
- U$E It, or Lose It
Shrewd hiring managers use surpluses in end-of-year fiscal budgets to fill approved openings or anticipate future needs and expand their departments. Conversely, some departments lose headcount for not taking advantage of end-of-year funds.
- High Energy, High Motivation Candidates
It takes a lot of commitment and drive to stay focused on a job hunt at a time of year when everyone else is distracted by holiday parties and the festivities of the season. What kind of candidate can persist toward an important goal amid so much distraction? One who would rather not spend the holidays making excuses to family as to why they haven’t fulfilled an important career objective. One who is determined and willing to do what it takes to accomplish important objectives.
Or, one your company may want to hire in January… a month too late.
The opportunity costs for waiting to hire are considerable: missing out on highly qualified, highly motivated employees; less time for onboarding and training, a weaker team, and poorer departmental performance in 2019. Hiring may be more of a marathon than a sprint, but getting an early start on 2019 places your company squarely at the head of the pack in this race, with your competitors somewhere behind you.