You might need to act fast if you want that big promotion this year

Promotion opportunities decline in the fall and winter, according to Visier’s data, thanks, in part, to fiscal calendars, as companies determine budgets and find last-minute business opportunities before the end of the year.

Visier found that HR departments tend to use the summer to make internal hires, or promotions, rather than spending money and time to look for an outside candidate.

The number of resignations is higher during the summer months as well. “We may be seeing a reaction of offering promotions to retain employees, or promotions going to existing employees who replace those who resigned,” Visier chief strategy officer Dave Weisbeck says.

Since a summer slump can make companies less focused on meeting business goals, young workers can use this time to prove themselves and stand out, according to Weisbeck. Best-selling author and CNBC contributor Suzy Welch says getting promoted happens when you over-deliver on your job, not just do it. This means finding solutions, not just problems, becoming a go-to person for key projects.

Don’t forget to advocate for yourself as well. Keep a log of compliments and positive feedback and check in with your manager about your goals and what you can contribute further to the team. Even if you don’t get that new title this month, you’ll be that much closer.

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Don’t miss:

5 ways to boost your chances of getting a promotion in 2018

4 habits to give up this summer to get a promotion

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