Most of us have been patiently waiting for summer. Longer days, warmer weather, and much-needed vacation time. But before you start to kick back and relax, it’s time to think about your hiring needs. There’s a common myth that summer is the slowest hiring season. Many people believe hiring slows down because there are not as many opportunities available. That simply isn’t true. With a 50-year low unemployment rate and 7.5 million job openings, the labor market is the busiest it’s been in decades!
Don’t let summer slow you down and deviate your hiring needs. Here are a few reasons why it’s actually a great time to hire.
Hiring tends to slow down
Typically, many employers slow hiring efforts during the summer months. Your fellow employees may be on vacation or taking advantage of “Summer Fridays.” These absences can make it difficult to coordinate panel interviews, and ultimately, make hiring decisions. However, with an unemployment rate of 3.6 percent, the pool of candidates to choose from is still shrinking.
Many companies desperately need talent, so it’s a great time to take advantage of your competition’s lack of attention to their hiring needs. With fewer hiring managers and human resource professionals hunting for candidates, there will be less competition for your company to swoop in and find fantastic candidates.
Additionally, many younger candidates have just graduated and are looking for their first career opportunity. Take advantage of this fresh pool of applicants and find some recent college grads to fill any entry-level roles.
Candidates are taking vacations
Many people patiently wait to take their vacation or paid time off during the summertime. This available time opens up the perfect opportunity for squeezing in an interview.
If a candidate is already taking a week off for a vacation, it may be easier to tack on an extra day for an onsite interview. Or if it’s just a phone interview, most people can spend 30 minutes to an hour away from the beach or family for a brief conversation. Don’t let vacation time scare you away from searching for the candidates your team needs!
Faster hiring process
Everyone is busy in the summer. Employees are out of the office and departments are balancing multiple projects. The faster you can add qualified people to your team, the faster they can get acclimated and start making an immediate impact. This is great for your company’s bottom line as the average job vacancy takes 42 days to fill at a cost of $4,129. Thus, by making smart hiring decisions quickly, you are saving your department money in the long run. It’s a win-win situation!
Just because the sun is shining, doesn’t mean you should put your hiring efforts on hold. In fact, hiring for critical needs during the summer months might be just what your organization needs to do in order to get ahead of your competition!