New financial year could be the best time to find a new job

RECRUITMENT experts reveal the best times of year to look for a new job as it is linked to a certain state of mind.

THE new financial year brings fresh activity to the job market as projects finish up and new goals are set.

Along with the new calendar year, it is a time when employees traditionally reassess their careers and make the decision to stay or go.

Hays managing director for Queensland Darren Buchanan says now is a popular time to make changes as it is linked to appraisals and a sense of “wrapping up”.

“It can prompt people to start looking around,” he says.

“They think ‘I have finished my project, the next year is beginning. Do I want to be doing something a bit different?’.

“Especially when it comes to temporary work, when the financial year ends ... if you finish the project, you may not have a job anymore.”

Outplacement Australia career transition consultant Gillian Kelly says the accounting sector is another example of a group of workers likely to move around at this time of year.

“While it’s important for job candidates to be aware of peak hiring trends so they can apply when the job vacancies are listed, we tell people sometimes applying in the off-peak periods means your competition may be quieter,” she says.

Recruiter Gillian Kelly says applying in off-peak times can also be a good strategy. Picture: Jack Tran

“Additionally, the off-peak periods are sometimes the times you can build relationships and lay the ground work so that when opportunities present down the track, you are already known to the company and have a headstart.”

Buchanan says some sectors run on their own cycles.

Mining jobs, for example, peak and trough depending on resource prices while education roles are often connected to term dates and retail roles depend on sale periods such as the Christmas holidays.

“We are now in a market where people change jobs more frequently than ever before. It’s just the nature of it,” he says.

“Gen Y and Millennials tend to change jobs more often than more mature-age workers (and) we are seeing a rise in the use of temporary staff.”

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Although seasonal trends exist, the biggest factors influencing job changes come down to the workplace and individual.

Randstad whitepaper Employer Branding 3.0 reveals 70 per cent of surveyed workers intend to leave their organisation in the next six to 12 months.

The top three reasons employees plan to leave are a lack of career growth opportunities (51 per cent of respondents agree), inadequate compensation (39 per cent) and poor leadership (36 per cent).

Work got you down? Maybe it’s time for a change. Picture: iStock

Work/life balance issues and a lack of recognition and rewards (both 34 per cent) also ranked highly for more than one in three respondents.

On the other hand, for employees who plan to stay with their organisation, the top reasons are good work/life balance (62 per cent), competitive salaries (42 per cent), flexible working arrangements (38 per cent), pleasant company culture (35 per cent) and recognition for their work (33 per cent).

When looking for a new job, workers look for a good salary and employee benefits, first and foremost, followed by a pleasant working environment and long-term job security.

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