Why You Need to Consider Your Permanent Recruitment Needs in the New Financial Year

With FY2019/20 well underway, businesses should naturally be turning their attention to how they can make the next 12 months their best yet.

A new financial year means new opportunities, new challenges and perhaps most importantly, the chance to experiment with new approaches to your business. A key component of that needs to be considering whether your business could benefit from the addition of some extra talent. While most businesses could normally find value in adding a couple of extra hands, there are right and wrong times to go looking.

At Horner, we want to help every Melbourne business build a winning team with the skills and knowledge they need to dominate their industry. Read on and find out why we think the early in the financial year is the perfect time to go looking for new talent.

Continue the momentum

The beginning of a new financial year is a time to both look back and plan ahead. Reflecting on the year that passed allows you to identify where you succeeded and where you fell short, helping you understand what contributed to both and how you can improve going forward.

Being in this problem-solving mindset is the perfect time to consider adding new talent. If the last 12-months of operation have been marred by challenges such as low productivity or missed deadlines, a surface-level solution such as new KPI’s or a change in workflow may not cut to the heart of the matter. In some cases, new talent is the only solution that addresses the problem at its root.

On the other hand, the new financial year could mean new projects, new services, new products and new partnerships for your organisation, which means this is the ideal time to consider injecting fresh ideas and new talent into the process. All of these new initiatives will need to be owned and delivered by someone, so why not take the time to find someone perfectly matched to the process rather than looking internally? If you’re stepping into a new market or new territory, it may be faster to find someone who knows that market or territory and train them up in your brand, rather than vice versa.

Offer talent a new job opportunity before their current employers do

Remember, when it comes to sourcing industry-leading talent, you aren’t just competing with other prospective employers for talent; you’re also up against any offer their current business can make.

With the books settled and the accountants satisfied, the beginning of a new financial year is often when businesses undertake performance and salary reviews and start making offers to their highest performing staff. Whether in the form of a one-time bonus or a permanent addition to their remuneration package, these offers can often do a lot to win back employees who have one eye on the door. Once they’ve got that extra money in their account or the keys to a new company car, it can be a lot harder to pry away dream managers and technical staff from their current roles.

Recruiting early in the financial year gives you the best possible chance of snatching talent while they’re more open to offers. After all, if you get in before bonuses go out, you’re competing with last year’s offer – not whatever is on the cards for the next 12-months.

If you’d like help securing industry-leading talent for your business, contact the team at Horner. With more than four decades of experience in Melbourne and offices across the city, no one understands your recruitment needs like Horner.

Speak to one of our team today to learn more.