Busy season is coming to a close for accounting and finance professionals. They’re planning vacations, reconnecting with friends and family and recommitting to a good mix of nutrition and regular exercise. While they’re at it, many of them will be looking for a new job.
For some hiring managers, April is a time for family vacations while schools are closed for Spring Break. Others might be planning summer travel. But if your company needs to staff up this year, consider adding post-tax season hiring to your to-do list. Here’s why:
Ready for a change
Recruiters get a lot of calls after tax season comes to a close. Now that busy professionals have some downtime, they may be wondering whether they want to go through another busy season – or just wondering if they wish to go through another busy season with their current employer.
They may be looking for a position that better suits their ideal lifestyle. Or maybe seeking a position that offers more learning, development and mentorship. Whatever their motivation, this is the time to look for new opportunities and create a plan of action.
If you wait until later in the year to start staffing up, many of these professionals will be too busy dealing with tax extensions and year-end planning to prioritize their job search.
How long does your onboarding process take? Studies show that most companies spend somewhere from one to three months onboarding new employees. The onboarding process includes completing the necessary forms, getting new hires acquainted with company culture, and providing on-the-job training. And studies show that anything less than a month is detrimental to retention rates.
Summer tends to be a slower time for most companies. It’s a popular time to take vacations, long weekends or skip out of work early on a Friday. Hiring your accounting and finance pros in the calmer Spring and Summer months ensures you’ll have plenty of time to invest in the onboarding process. By the time schedules pick back up in the Fall, your new hires have time to adjust to new technologies and learn your processes. And they’ll be ready to hit the ground running.
Do better next year
How’s the busy season at your company? One of the items on your post-tax season to-do list might include asking employees for input on how Q1 went and how you can do better next year. They’ll know firsthand what works and what doesn’t.
If the feedback you receive involves staffing levels, you can make it clear that you’re listening to their concerns by hiring now to ensure you’ll have adequate resources in place next year.
Demand for accounting and finance professionals is high, and your star employees are likely being recruited by the competition right now. Prevent the loss of your most valuable resource – your people – by taking action on their concerns and ensuring your staffing levels are high enough to give them the work/life balance they crave.
It seems far away now, but Q1 2019 will be here before you know it. If you want to be fully prepared to meet the challenges of next busy season, now is the time to start hiring.