Job Market Update

15 June 2020 Virginia Brookes

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Although there is uncertainty as a result of COVID-19, the new financial year is still a great time to think about looking for a new role.

Whilst around 50% of employees look for a new job in January, this isn’t actually the best time to look as it is often when key decisions makers such as Directors and HR Managers take a long break over Christmas. Which means fewer job vacancies at a time where there is more competition in the market.  

Compare this to the start of a new financial year where businesses are setting new business goals, budgets and mapping out the team they need to be able to achieve their growth plans. Companies will often plan in May / June and start hiring in June / July to set up for the new financial year to be able to achieve targets and meet demand.

Even with the current situation, companies are now planning their comeback from this downturn which could mean even more positions looking for different skill sets.

In turn, there can also be less competition in the job market with less people looking as end of financial year is often a busy time in their own workplaces.

So, how can you get ahead this new financial year?

  • Be clear on what you are looking for and  why you are looking to make the move to a new role
  • Update your CV and brush up on your interview skills
  • Do your research on what companies you would like to work with
  • Align yourself with a reputable recruiter who will take the time to understand your needs and represent you to clients and give the best opportunity to secure an interview