Though January is often deemed as a poor month across the board for many businesses, there are many ways in which your business can benefit from the month of January. From increased jobseekers to more reflection and planning time, we note some ways how January is the best month for business expansion here in our latest blog.
Increase in job hunting
As the festive period closes its door on us for another year, there will be plenty of jobseekers who will get back into action in January. Over the years, January has seen such a high volume of job applications across a variety of industries. So much so, that January 7th has been marked as ‘National Job-Hunting Day’ in the UK.
A major aspect of your business expansion is facilitated through the growth of your team, whether they be in-house or external. Such high volumes of applications to jobs means that you have more chance of finding the best-suited candidate to your available roles during the month of January. Not only this, but the quality of candidates may be higher as prospective employees have more time to update their CVs to showcase new and relevant skill sets, experience and more.
It is important to mention that this is not just the case for the UK either. In-line with similar post-festive periods across the globe, many countries see a similar trend in job applications at the start of the year. This is a fantastic chance to capitalise on the best talent who are currently job searching, and using Recruitment and PEO Services together will aid you in this search massively. PEOs allow the international hiring experience to run smoothly, even taking care of difficult tasks like navigating payroll services.
Increase in layoffs
Especially in the past year, many industries such as tech have experienced increased staff cuts due to crumbling economies. Such a high number of axed job roles have resulted in thousands of employees flooding the market in need of a new position.
Again, this is where there is a bountiful opportunity to find experienced and hardworking candidates to fulfil your positions. Undoubtedly, the laying off of these staff members could be the key to your next business expansion move, so it is crucial to take advantage of this in January.
See quietness as an opportunity
Many businesses view January as a difficult and quiet month due to the comedown after a very busy December. While it is easy to fall into this same mindset, shifting your perspective to see quietness as an opportunity is key in successfully expanding your business.
One way to make use of this potentially quiet time is to catch up on any outstanding work which may have been delayed in November and December. Ensuring you are up to date with essential work is an important part of feeling ready to expand your company further.
Reflect on the previous year
A crucial component of business growth is constantly reviewing what has been successful and unsuccessful in the previous year. This could incorporate many things, including job roles, retention of employees and clients, new clients, new strategies and more.
Using this time to evaluate your business’ performance across the year allows you to look into potential areas of expansion and improvement for the upcoming year. This ensures that you are taking the necessary steps in the right direction towards constantly refining the workings of your business.
Plan for the year ahead
Now you have spent some time noting what went well in the previous year, it’s time to organise your plan of action for the year ahead. Planning is a vital part of business expansion, as having goals to work towards helps you to stay motivated in achieving them.
Setting clear objectives helps you to be realistic about what is achievable that year. If you set unattainable goals for yourself and your team, it will result in disappointment, so it’s best to think pragmatically.
There’s no saying that these plans cannot change either - they often do - but having a framework of what you want your company to achieve in the next year helps you to keep on top of all the important things.
How can Leap29 help you expand your business in January?
We know that growing your business can be stressful and time consuming. That’s why we offer services to help facilitate the expansion of your company - so what better time to start the process than now?