Monday Management Minute: The Advantages of Year-End Hiring

In the final months of the calendar year, many people start turning their attention to planned time off, presents and parties. But if you’re a manager in a hiring position, you may want to think about something else: bringing in new employees before year-end.

While it may seem counter-intuitive to staff up during what is traditionally a slow period for many businesses, there are a number of advantages to hiring as the year winds down. Here are some:

Less competition

First, there is likely to be less competition for top candidates at year-end, as many companies decide to postpone hiring until the new year. Of course, one downside is that there might be a smaller pool of active job seekers, too. But many professionals won’t let the holidays sideline their employment search; they will still be looking for opportunities and will likely be ready to make a move quickly.

Also, because many people enjoy more flexible work schedules around the holidays, it may be easier for prospective candidates (and you) to make time for interviews.

An early advantage

Year-end hiring gives financial companies time to onboard a new employee and help position them for success before the busy season kicks off in January. It also helps your team begin the new year with confidence, knowing that you are fully staffed and ready to tackle the flood of year-end report work. (Such assurance may even help you relax and enjoy the holidays more.)

Don’t rush

If you decide to hire new staff before year-end, don’t place undue pressure on yourself to beat the calendar. While some companies do have policies in place to re-evaluate positions that aren’t filled by the end of the year, don’t be tempted to compromise just to fill a position. Take time to ensure you’re hiring qualified employees. Otherwise, you could end up with a bad hire.

If your company is ready to fill positions and appropriate candidates are applying, why wait? By moving forward now, you may very well ring in the new year poised for productivity and success. With a competitive job market in general in the accounting and finance industry, it can pay to start the search for your next employee sooner than later. If you haven’t yet, consider engaging the services of a specialized recruiting firm to help your company find the right new hires for your firm before year-end.

Do you have year-end hiring advice to share? Let us know in the comments below. To ensure you’re offering competitive pay to your financial employees in the new year, consult the 2015 Salary Guide from Robert Half.