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Why is the new year the best time to hire for Finance and Accounting?

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2 months ago

by Eleonore Jones

Why is the new year the best time to hire for Finance and Accounting?

The timing of hiring for organisational growth is pivotal in your company’s success and choosing the new year may be your best bet. Not only is it prime time for talent to be looking for new roles, but also it may help your team prepare for the upcoming tax season and year-end assessments alongside giving you a competitive edge.  

Let’s delve a little further into the compelling reasons as to why you would benefit from starting your recruitment process in January and how that would support the assembly or expansion of a thriving finance and accounting department.

Budget refresh

With the start of a new fiscal year, many companies review and refresh their budget, including allocations for expanding or enhancing finance departments. This would provide the resources necessary to bring in new talent. 

Strategic planning

Many organisations use the start of the year to set strategic goals and financial plans, especially once they’ve reviewed their budget and seen where extra resources can be allocated. Hiring key financial professionals early in the year allows you to contribute to these plans from the start, ensuring alignment and efficient execution.

Tax season preparation

The new year means that companies are gearing up for tax season. Hiring new members in the ne years allows you the time for training and integration into processes before the peak workload hits.

 Year-end assessments

Assessments may reveal areas where additional financial expertise or support may be needed. Hiring at the start of the year will help you address these identified needs promptly.

Talent Availability

The new year also often prompts individuals to reflect on their careers, to reassess goals and to consider making changes or advancements. This mindset shift motivates many to actively seek new opportunities making it the perfect time to expand your team with ambitious and qualified talent.

Competitive Edge

By starting your hiring process early in the year, you can secure top finance talent before competitors initiate their own. This ensures you have access to the best candidates available, giving you a vantage point ahead of your competitors.

Team Productivity

Ensuring a well-staffed finance team from the beginning of the year can enhance productivity and efficiency, streamline processes and contribute to the overall success of your financial objectives throughout the year.

 

In essence, the new year offers a strategic window for finance team hiring, aligning with budget cycles, strategic planning and making use of the top talent newly available on the market who are seeking new opportunities.

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