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Our recent survey of 5,000 workers has revealed people’s approach to finding a new job in 2024, showing that 40% of respondents looking to start a new role think January is the best time to start looking.
However, the same research found that holding off until after Christmas could be risky, putting you behind the competition. This is evidenced by the fact that 51% of those involved in hiring want to get the ball rolling in the autumn, so their new recruits can ‘hit the ground running’ in the New Year.
This means that with 22% of workers hoping for a new job next year, they’ll need to act now for the best chance of success. As an organisation, if you’re looking to hire for the New Year – here’s why now is the prime time to start your hiring process.
Our data has shown that, on average, it takes 33 days from a candidate’s first application to signing on the dotted line. If you add on a one-month notice period, you’re looking at 63 days average to get a new employee to start at your company. So, you need to act fast.
New Year’s resolutions are always popular, and our research has shown that starting a new job is the same. More than half (53%) of workers surveyed said January represents a new start, which makes it the perfect time to embark on the next chapter of their career. In addition, 38% think the New Year is a beneficial time to start a new role because it allows them to set goals for the year ahead. And Hiring Managers agree, with just over half (51%) of respondents suggesting now is the time to hire so that new employees can hit the ground running come January.
More than 59 million job applications were submitted in the UK last year, according to a landmark survey by Broadbean Technology. But the most asked question when someone leaves a job or starts a new one, is always “why” – and we have the answers to that, too.
Our research delved into the top reasons behind people leaving and starting anew, finding that salary, work-life balance, and development of new skills were the biggest drivers.
A staggering 50% of respondents said they would be motivated to move jobs just based on salary alone, with 30% of respondents saying they are dissatisfied with their current salary (only 18% have received a pay rise in the last three months). Almost three quarters (71%) said they would only accept a new job if the salary was a 10-12% increase on their current one, which makes the 50% figure seem unsurprising.
However, 45% said a counteroffer would persuade them to stay in their roles. So, be sure to check out our latest salary guides to make sure you’re paying enough to retain your top talent.
Somewhat unsurprisingly, our data also revealed 40% of workers cited work-life balance as a top reason why they want to start afresh come January. Having had a taste of hybrid and flexible working in a post-pandemic world, there are an ever-increasing number of employers offering this option and giving people the chance to balance their personal and professional priorities. Find out more about flexible working and what you can do to keep employees happy from our expert webinar on-demand.
Money and flexibility aren’t the only drivers to employees wanting change. Our research also found career development played a big part in reasons to move, revealing almost half (48%) said they would need to change jobs to secure a promotion, 25% say employers need to provide clear expectations of what is needed to get to the next level, and 27% said that lack of communication around opportunities for progression had them thinking about changing jobs.
With 33% of job seekers expressing that they want the chance to develop new skills, it’s certainly an area more employers are starting to think about as they look to recruit and retain top talent. Plus, with the age of retirement getting ever older and advances in technology constantly demanding that we all keep up, who wants their skills to grow stale as they move through the next decades of work?
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