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Published: 3 month

Is the beginning of the year a time for redundancies?

While the rate of resignations at the beginning of the year can vary, in many companies 25 per cent of resignations occur during this period, after the payment of year-end bonuses, according to a summary by Comline Budapest, one of the largest training companies based in Hungary. In most cases there are several factors behind a termination, but the beginning of the year is the real job-changing season in most industries. Fatigue from previous years, inadequate year-end recognition - whether in the form of a bonus or just a 'good word' - or rethinking career paths and goals can be behind resignations.

Felmondás, bónusz motiváció-

Bonuses, benefits or no thanks

25% of those who quit wait until the end of the year, when "turkey bonuses" are often promising, and some may expect to receive them before they leave. "It's important that there is a serious and sincere expression of thanks behind the bonus scheme, as well as preparation and planning for the coming year. If employees don't have a vision for the future at the company, don't expect them to be enthusiastic about the year ahead," says Béla Nagy, owner and head trainer at Comline Budapest. A lack of bonuses and thank-yous is particularly likely to lead to resignation at the beginning of the following year if employees are tired and enervated about the period ahead.

Rethinking career paths, personal situations

Regardless of industry or region, people review their performance at the start of the year and may feel they need a change in career or want a new challenge. Some people choose the beginning of the year to look for new opportunities, new challenges or a different job. This may be because they feel they have reached the peak of their development in their current job, or they simply want a change in their life. "In such a case, a change of position within the company, a new environment, a new team can be a good way to prevent attrition," she added.

2024 could be different

The exact number and proportion of terminations at the beginning of the year can vary from year to year, depending on the industry and region. In general, statistics may show that the number of terminations at the beginning of the year may be higher in some areas or industries compared to previous periods. The pandemic has of course also influenced this, as people started to leave their jobs en masse around the world in early 2021, which has since become known as the "Great Quit Wave". "Although the scale of the wave of quits has decreased, there has now been a reshuffling, a flurry of personal lifestyle changes, a transformation of industries, so that this wave will move with very little amplitude in 2024," the expert added.

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