5 Reasons to look for a new job this EOFY

As the financial year draws to a close in Australia, savvy job seekers are gearing up for a window of opportunity. Indeed’s 2024 job trends analysis reveals that the end of the financial year (EOFY) is one of the best times to embark on a job search. At Adecco, we’ve long recognised this pattern and are here to guide you through the EOFY job market boom. Whether you’re looking to climb the corporate ladder or pivot into a new industry, now is the perfect moment to leverage the unique advantages that come with Australia’s financial calendar. Let’s explore why EOFY could be your ticket to career advancement and how you can position yourself for success in this prime hiring season.

1. New Budgets for Fresh Talent

The EOFY marks a time of budget review and planning for many organisations. As new financial allocations are made, companies often earmark funds for hiring new recruits to help fulfil the coming year’s objectives. By submitting your CV to recruiters and hiring managers at the start of the financial year, you increase your chances of being considered for newly opened positions. Whilst it’s ideal to begin before EOFY, don’t be discouraged if you’re just starting – continue your efforts through July to capitalise on this opportunity.

2. Promotions and Performance Reviews

The end of the financial year typically coincides with performance reviews and promotions, creating vacancies across organisations. These openings may result from internal advancements or employees transitioning to new opportunities elsewhere. Additionally, companies might utilise leftover year-end budgets for hiring bonuses, potentially offering you a more substantial salary increase compared to internal promotions. Given the rising cost of living, securing a new position with a significant salary bump and a hiring bonus could greatly enhance your financial security for the coming year.

3. Planning for Growth

The year-end transition is a crucial planning period for companies as they set new goals and strategies for expansion. By entering the job market now, you position yourself to be an integral part of these growth initiatives. Industries such as healthcare, ICT, design and engineering, and education are particularly promising, as they remain under-resourced and actively seek fresh talent and skills.

4. Increased Recruitment Activity

Whilst most departments are finalising their previous year’s work, HR teams are looking ahead, preparing to supply their organisations with the talent needed to meet future goals. To have the right people in place when new projects commence at the beginning of the financial year, HR often starts the hiring process several months in advance. This increased activity results in more job listings, faster responses, and expedited hiring processes. To leverage this surge in recruitment, reach out to recruiters and HR managers, monitor job boards regularly, and ensure your CV and portfolio are up-to-date and polished.

5. Reduced Competition

The EOFY period is bustling with planning activities, which means many potential job seekers are preoccupied with their current roles. This creates a unique advantage for those actively job hunting, as you’ll face less competition. It’s also a quieter time compared to the peak job-hunting season, which typically occurs in January and February. Use this opportunity to apply for aspirational roles that might usually seem out of reach. Remember, in today’s job market, skills and experience often carry more weight than formal qualifications.

Seize the EOFY Advantage

Increased planning, fresh budgets, new initiatives, heightened recruitment activity, and reduced competition makes EOFY an ideal time to elevate your career. Take the time to refine your CV, optimise your LinkedIn profile, and showcase your portfolio. The perfect role you’ve been aspiring to could be just an application away.

At Adecco, we’re committed to helping you navigate this EOFY season. Our recruiters are ready to connect you with hiring managers across a wide spectrum of industries and locations. Don’t let this EOFY pass without taking a step towards your career goals. Reach out to us today, and let’s turn this financial year transition into your career transformation.