The start of a new year often brings with it a sense of renewal and fresh beginnings. It’s no surprise, then, that many people choose the run up to this time of year to reassess their career paths and consider making a change.
In fact, UK job market trends show a significant increase in career moves in the early months of the year.
A recent government white paper Get Britain Working released today (26th November 2024) highlights people searching for jobs are consistently higher in the run-up to Christmas, typically around 9 to 10% between October and December.
Why the January Career Change Surge?
Several factors contribute to this annual trend:
- Performance Reviews and Bonuses: Many companies conduct performance reviews and distribute bonuses at the end of the year. This can be a pivotal moment for employees to evaluate their career progression and job satisfaction. If they feel undervalued or stagnant, they may be more inclined to seek new opportunities.
- New Year's Resolutions: The start of a new year often coincides with a wave of New Year's resolutions. For many, this includes professional goals, such as career advancement or a job change.
- Tax Year End: With the end of the tax year approaching, people may be more motivated to make financial decisions, including job changes, to optimise their tax situation.
The Impact on the Active Job Market
This annual surge in job seekers can significantly impact the UK job market. Employers may find themselves with an increase of vacancies as a result of employees moving positions. However, it’s important to note that this surge in new opportunities can peak the interest of passive candidates, who weren't actively looking before seeing a perfect role. Therefore competition for top opportunities can be strong, so make sure you stand out from the crowd. Strong networks and understanding company values, projects and objectives start to become crucial.
A simple click application using your untailored CV is unlikely "good enough" to secure the best roles and you become overlooked by a "box ticking" application process.
Concurrently this is also a danger for employers. A higher volume of applications from a simple application process will undoubtably encourage large numbers of unsuitable applications. "Quick reject processes" are now common practice - but risks leading to a culture of "corner cutting" by hiring managers in exchange for increased productivity.
At a cost of overlooking potential talent who aren't experienced in completing the application process. Taking enough time to conduct a robust application process for qualifying and shortlisting pays dividend in the end.
If you're considering a career move for 2025, now is an excellent time to start your job search. By taking advantage of the increased activity in the job market, you can position yourself for success. To maximise your chances, be proactive, network with industry professionals, and tailor your job applications to each specific role.
Work with your recruiters to identify your drivers. After all, they will usually have the inside track and insights into opportunities that may not be on the open market.
Good luck!