August is traditionally one of the slowest months for hiring. The slowdown is comparable to the holiday season in December. The main reason for the usual lull in the hiring process is that August is the last chance to take summer vacation. Most families are away around Christmas, Hanukkah and during the summer months, especially August.
A new mood sets in towards the last unofficial month of summer. Three-day weekends, summer Fridays and mental cessation of work are commonly accepted practices. It’s an unwritten rule that it’s the perfect time for families to take their long-awaited trips to Disney, visit family, fly to Europe, discover interesting destinations through America or relaxing on a sunny beach, reading a trashy novel or just being in a moment of peace and quiet.
What to expect in an interview
If you’re in research mode, be prepared for more than the usual ghosting, lack of communications, and lack of feedback. As it is the travel and sightseeing season, there will be a turnstile effect in businesses. One person after another will be out of the office.
An interview scheduled weeks in advance will be canceled the day before because the HR professional reported that he had a cold and had to reschedule. They most likely emailed the change from their summer abode in the Hamptons or Catskills.
After a miraculous recovery, the HR person is back at work, but now the hiring manager has gone on vacation for two weeks. As soon as the supervisor returns, there is a domino effect of all other parties involved in the interview process saying they will be on vacation or away for a few days. You were probably getting communications about the process and now the emails, texts and phone messages have gone down. This trend will last for the rest of the month until the first two weeks of September.
There will always be opportunities available
Don’t lose hope and put your search on hold. You cannot generalize that everything stops. There will always be a small number of positions deemed essential by management and to be filled immediately.
For crucial open roles, you will have a big advantage if you are actively looking for a job. Fewer applicants will be competing for the same position because they are on vacation. Even if people don’t leave, they mentally check.
A smart contrarian plan is to aggressively seek employment when there is less competition. This will make you stand out. With fewer resumes submitted, yours will resonate with the hiring manager. Savvy HR professionals and long-time managers know that if they neglect hiring during the latter part of the summer, they will be inundated with furious demands from managers shouting, “Why didn’t I I no candidates for my job offers? »
The forward-thinking people involved in the hiring process recognize that things can move slowly, but they will proactively create a strong pipeline of candidates who are willing and ready to interview once mid-September rolls around. They know that mid-September is like back to school. – school mentality. It’s the feeling that summer and fun are over and it’s time to get serious and focused again.
The behind-the-scenes reasons companies will hire now
Smart hiring managers know from experience that they will be caught out in September and October if they don’t keep hiring now. If they wait until September to relaunch the hiring cycle, it can take three to six months to post job postings, review the onslaught of pent-up resume applications, retain recruiters to help with prospects hard to find. , conduct interviews, perform background checks and prepare an offer. The recipient of an offer would need two or three weeks plus for his notice period. This would take you to a start date in late November or early December, which triggers big problems.
White-collar professionals in industries like Wall Street and technology rely heavily on their oversized bonuses. In a hot market, companies would buy back bounties to entice someone to join their organization. This is not a trivial amount of money. An investment banker or software engineer can expect high five-figure bonuses.
A placement in August allows someone to qualify for a bonus if they change jobs. The more time passes, the more companies may not want to buy out or give someone a $50,000 bonus to only work a month or so at the new company.
In this current economy and labor market characterized by uncertainty, including runaway inflation, a recession, possible stagflation, layoffs, job cancellations and hiring freezes, it is more than likely companies won’t want to shell out a large bonus. Instead, they’ll pass on the candidate and wait for someone else who doesn’t need a big bonus reward.
Looking for a job, but also taking care of yourself
Naturally, people don’t want to embark on a long job search in extremely hot weather. It’s not nice walking into a subway station in New York when it’s 95 degrees and humid outside. The temperature rises uncomfortably as you wait near the train tracks. After leaving the crowded train car, crushed between two sweaty people, you will have to walk about 10 blocks to the building for an in-person interview. By the time you arrive you are sweaty, your outfit is wrinkled, your hair is disheveled and you are starting to get grumpy and irritable. It’s not the best way to shine on a first date.
Despite the challenges, you should continue to interview. After more than two years of relentless stress and anxiety, taking time out for self-care is not unreasonable. You owe it to yourself to process the effects of the pandemic, trying to figure out what will happen with runaway inflation and recession, and wondering if job cuts and hiring freezes are the new norm. With the slower pace in the office and the ability to squeeze in while working remotely, it’s easy to rest for a while and decompress.
What businesses should do
After all these years, you’d think leaders would see the cycles and act. It would make sense for business leaders to ask for vacation schedules that would help streamline and speed up the hiring process.
Companies waste two or more months of interviewing and vetting candidates by not taking proactive steps. Once businesses return to a normal schedule, there will be pent-up demand for hiring without enough candidates available. Feeling like ghosts, some may have given up. Top talent will already have found jobs in more motivated and candidate-friendly companies.
Management should embrace the summer vibe. With 4 million Americans quitting their jobs every month, if companies run out of hiring in August, the least they can do is stem the tide of attrition.
With the slower pace, team leaders should schedule time to talk with their staff. They could go to an off-site location and the worker could share their goals. The manager, in turn, can respond to their desires, ask for feedback, praise their accomplishments, and share constructive criticism that would help them grow and flourish.
August is the perfect time to enjoy a relaxing summer and look for a new job, because there will be less competition and you can stand out.