3 Reasons EOFY is the Best Time to Be a Job Seeker 

The end of the financial year (EOFY) is an ideal time to look for a job, especially if you’re looking to make a change. With many companies preparing to announce their fiscal results and bonus schedules, now is the time when hiring managers start to think about which positions they need to fill in order to achieve next year’s goals. So if you’re looking for your next opportunity, EOFY is definitely the time to hit the pavement. 

Of course, that doesn’t mean it’ll be easy. Competition for top positions can still be stiff, so you’ll need to put your best foot forward. But if you can show that you’re proactive, motivated and can add value to the team, you’ll stand a good chance of landing your next dream job.  

1. Less Competition 

The recruitment process usually starts towards the end of the financial year when new projects are being set up and new budgets are being allocated. This is a good time to start job hunting as there is less competition than in January and February and often more job opportunities. However, it is also worth bearing in mind that some companies may have already filled their recruitment quotas for the year and may not be looking for new employees until the next financial year. So, if you’re thinking of changing jobs, it’s important to do your research and target companies that are likely to be hiring. The beginning of the financial year is an exciting time in the job market and with a little planning, you can make sure you’re in the right place at the right time to take advantage of new opportunities.

2. HR has More to Spend 

The end of the financial year is an important date for recruitment. Most companies will spend the month evaluating their yearly expenses and more specifically, where to invest for the new year. This means more money is available to be spent on recruitment. The beginning of the financial year fires up the recruiting machine as new projects are set up, new budgets are allocated, and new job opportunities arise. 

Your end-of-year performance review is the perfect time to test the waters.  Be sure to bring up your achievements and how you’ve gone above and beyond for the company. Not only will this help you to gauge where you stand in terms of your career, but it will also give you the opportunity to ask for a well-deserved pay rise. And if your boss doesn’t budge or praise your hard work, you know it’s a good time to start looking for a more fulfilling role.  

3. It’s a Time for Reflection and Planning 

At the end of every financial year, it is important to check whether you are still on track with your career goals (read how we review our goals throughout the year). Sometimes, the job you end up in doesn’t always turn out as planned. If you recognise this and are willing and able to take action, you have an opportunity to transition into a new job that better suits your goals and aspirations. By using the year-end to refocus and look at the bigger picture, you will be able to more efficiently your current position and evaluate the opportunities that come your way. This way, you can be confident that you are making decisions that are in line with your career plan and will help you achieve your long-term goals.  Think of July 1, 2022 as a fresh start! 

How to Get Started in your EOFY Job Search

Now that the financial year has wrapped up, job seekers have the opportunity to start their job search with a clean slate. It’s a perfect time to rebrand your resume and LinkedIn page. If you’re not sure where to start, don’t worry.  We’ve got a handy guide on updating your LinkedIn profile. Articles, skill endorsements, and regular updates for your skill set are a great way to highlight your strengths. You want to make it as easy as possible for hiring managers to find you and like what they find when they do. The best way to do that is by keeping your online presence up to date. 

It is equally important to keep your CV up-to-date, especially if you are actively job searching. Make sure to remove any outdated information, such as old jobs or outdated qualifications. It is also important to tailor your CV to highlight certain skills that are relevant to the types of roles you are applying for. For example, if you are applying for a marketing role, be sure to showcase your skills in copywriting and social media. If you are applying for a position in customer service, be sure to highlight your interpersonal skills. By tailoring your CV to the specific role you are applying for, you increase your chances of being invited for an interview.

By following these simple tips, you’ll be well on your way to landing your dream job in Q3.