Finance professionals contracting as Umbrella Company Employees might be inclined to refrain from seeking new assignments in August, assuming that hiring tails off in the high holiday season; however, a new study by online financial jobs network eFinancialCareers suggests that this assumption is mistaken.
Just over two-thirds (67%) of the 155 UK finance professionals polled in the survey, all of whom are registered with eFinancialCareers, fly to sunnier climes between June and September, and there is a corresponding drop in the number of new job applications coinciding with this period, even though new vacancies continue to be posted on the firm’s website.
Between July and August last year, applications for job postings locally plunged by 12% – a tail-off that is almost certain to be replicated this year. Job seekers and contractors looking for new assignments who have not taken their holiday at this time should not hold off in searching for new roles until September, the study suggests, because the “summer slowdown” does not apply to job postings.
On the contrary, the survey suggests competition for plum roles drops away significantly precisely because of the widespread assumption that the market is slow at this time of year – people simply stop searching until September. HR professionals and recruiters who are working through July and August will also have more time to devote to candidates than they will ever have at busier times of the year.
Prospective hirers are also inclined to be more relaxed and receptive to receiving positive impressions when candidates make enquiries over the summer, increasing the likelihood that they will be called back for interview in September.