Conventional wisdom may lead you to believe that companies just don’t hire during the fourth quarter. Business often slows, the right candidates aren’t applying for jobs, hiring budgets are already spent, and companies are busy with end-of-year accounting.
Q4 is a good time to recruit
This time, conventional wisdom is wrong. Often, business does slow in Q4, which makes this a great time to concentrate on your hiring process. Key employees will have more time to devote to interviewing potential candidates while business is less hectic. At this time of the year, job seekers may have more flexibility to schedule interviews, especially if they have PTO to use or lose.
If there is money left in your budget, using it to hire a new employee is a smart move. The funds are already allocated, so put them to good use. Your new talent can be onboarded and trained during the holiday season and be a productive member of the team in January. This puts you ahead of the competition who start their recruiting process in January
Many employers are planning to hire in Q4
A recent survey by ManpowerGroup shows that employers are planning to hire during Q4 of 2023. It marks the third straight quarter of gains in the intent to hire. They measure the intent to hire and then subtract those not hiring from those who are, giving the Net Employment Outlook. That metric is one point higher than last quarter and 3 points higher than the same time last year.
Hiring is still a challenge
Despite this positive outlook, 77% of businesses said finding talent with the needed skills is a challenge. Getting creative about finding the right talent, some are considering older workers who want to change careers. Candidates who have been out of work for longer than usual are also being considered, especially those who took time to care for family members during the pandemic. Those who don’t meet every technical requirement are also getting the nod from companies willing to invest in training the right people.
Partner with a Talent Acquisition Specialist
Whether you decide to recruit talent in Q4 or not, hiring the right talent is non-negotiable in order for your business to succeed. Building a relationship with a talent acquisition specialist to lend an expert hand to your hiring team is part of a solid hiring strategy. Specialists understand what job seekers desire in a compensation package. They will have access to talent pools that your hiring team doesn’t. Helping you attract and retain the right talent is their goal.
