The hiring process may come in waves. The size of the candidate pool grows and shrinks depending on the month for various reasons. Regardless of the impetus of the trend, HR managers only want one thing: hiring the best person at the right time.
To do that, it pays to know these seasonal hiring trends so you can focus your resources on the few best hiring months and make your hiring efforts more efficient. This article will give actionable insights on how best to manage hiring at times of job-seeker drought.
6 Seasonal Hiring Trends to Keep in Mind
Seasonal hiring trends mean that some months will give you a higher chance of hiring top talent than others. Knowing the cycle of the seasons helps you know when to be competitive with your hiring efforts and when to slow down.
January to February: New year, new job
The new year is like a clean slate for many people and is seen as a golden recruitment window. In December 2021 alone, 4.3 million people quit their job, meaning 4.3 million entered the job-seeker market in January 2022.
The start of the year is also typically when companies set their annual budgets, empowering HR departments to ramp up their hiring operations.
The surge in candidates combined with empowered HR departments makes January to February such challenging months for acquiring new talent. So, if you’re looking to grow your team at the start of the year, expect a lot of competition and a larger hiring expense.
March to April: The pre-summer rush
After the spike of the first two months of the year comes a dip in hiring activity. HR departments during this time typically ease up on hiring efforts to focus on onboarding the new hires. They may also rush to complete applications before managers go on vacation leave as May rolls around.
Some companies may also be gearing up for the next wave of potential candidates after the graduation season. This means that during these quieter months, you can expect to compete against fewer employers for the candidates you’re after.
May to June: An influx of new graduates
May to June is typically when colleges and universities hold graduation ceremonies. In 2020, the candidate pool in the Philippines grew by almost 800,000 as fresh graduates flooded the job-seeker market.
Fresh graduates hungry to join the workforce compete for job openings while hiring managers compete to recruit the best of the best from the new batch of talent. This makes May to June some of the best hiring months but also the most difficult. You should increase your spending and double your efforts during these months to keep up with the competition.
The key to staying agile during this is to know exactly who you’re looking to hire. Creating an ideal employee persona, for example, can help level up your hiring efforts and narrow your search, limiting your competition.
July to September: Mid-year lull
You can expect another quiet season after the post-graduation hiring spree. Most companies have already spent their hiring budgets or filled vacancies by this point. Since fewer employers are hiring, it means you have less competition. However, finding top talents your competitors haven’t approached could also be more challenging.
While you may continue your hiring efforts during these months, it can help to take the opportunity to prepare for the next wave of candidates.
October to November: The second wind
With the end of the year looming, job seekers and recruiters alike accelerate their operations to secure employment and fill remaining vacancies before the holiday rush, especially during October. HR managers typically want to finish the hiring process by November so the new employees will be ready to report after the New Year.
If you find yourself rushing to hire employees, keeping hiring best practices in mind is helpful. To speed up the recruitment cycle, you may want to ask more relevant interview questions or develop a list of crucial skills a candidate must have.
December: Making room for festivities
Most companies typically pause their hiring efforts as the year winds down.
Managers shift their focus to reviewing the year, completing remaining tasks before the holidays, and setting new agendas for the year ahead. Employees may also be busy gearing up for a career switch at this time, resigning after receiving their year-end bonuses, and updating their resumes.
Hiring employees at this time may be tricky. It may be best to prepare for the torrent of new candidates in January and February.
Hire Top Talent All-Year Round
The best time to hire is when not many companies are active, and a large pool of candidates is available. Those conditions seldom occur together, however, so it’s essential to optimize your efforts accordingly.
Be aggressive during the candidate surge from January to February and May to June. But it pays to stay vigilant during the quieter seasons, too, as motivated job seekers look for employment no matter the season—the average job search can take around five months.
Exactly when you decide to launch your hiring efforts depends on how competitive you can make your job offers. This is why hiring strategies can be both time- and energy-consuming, and why many companies choose to outsource to recruitment agencies.
If you intend to outsource the hiring process, consider a recruitment agency in the Philippines, such as Manila Recruitment. The Philippines is already one of the top offshore business centers in the world. Paired with Manila Recruitment’s expertise, you can expect to find top-tier talent any time of the year.
Contact Manila Recruitment to learn more about our services.