13 Mar 2023
As we navigate the work tides in a post-pandemic world, “quiet hiring” is creating a new wave.
While we recover from the effects of "quiet quitting" and mass layoffs, a new trend is gaining ground. It is "quiet hiring."
Yes. This new buzzword is grabbing headlines and spreading like wildfire in business circles.
As the trend of “quiet hiring” gains momentum, let us take a look at what it is all about.
What is “quiet hiring”?
Quiet hiring is the practice of acquiring new talent without hiring new employees.
This trend is finding a place in the hiring strategies of the world's leading companies. These include corporate giants like Amazon and Google as well.
Moreover, Gartner has declared “quiet hiring” to be one of the top nine workplace trends of the year.
How does quiet hiring work?
The main aim of quiet hiring is to get new talent without bringing new people on board. It is to save up on the costs of hiring, onboarding, and retention that come along with obtaining a new employee.
This is how it works.
The company starts by assessing its current workforce. It focuses on the employees who are working beyond their job description to go that extra mile. These are the high performers and overachievers. The company then offers them a raise or promotion based on their performance. This saves the employee a job search, the company a hiring spree, and everyone’s time.
In the face of massive layoffs, quiet hiring is emerging as a preferred recruiting method.
There are different approaches to quiet hiring. According to Gartner, companies resort to one or more of the following measures to put it in place:
Internal talent mobility
It occurs when a company assigns a new role or responsibility to an existing employee. It does so by giving the employee extra compensation or benefits for accepting the new profile.
This ensures that the company fulfills its priorities while also retaining its headcount.
Stretch and upskilling opportunities
Companies are placing more emphasis on allocating stretched assignments to employees. They are giving their employees opportunities to upskill as well.
This allows employees to grow while also helping the company meet its goals.
Alternate sourcing options
Companies may even rely on alternative sourcing methods for quiet hiring. These include alumni networks, gig workers, and referrals. Such avenues bring in talent as needed rather than investing in it.
How is quiet hiring impacting the future of work?
It is not that quiet hiring is a recent phenomenon. It has always been there. Companies have been practicing it for long.
But, in the current climate of recession, its manifestation has become more visible.
When it comes to the effects of quiet hiring, we get a mixed bag. The opinions get divided between both pluses and minuses. Some say it is the way to go, while some say it is nothing less than shady.
Whatever the views are, one thing is for sure: Quiet hiring is here to stay and create its impact.
So, we should view it with an unfiltered lens.
Let us explore further and see how it will impact the work scenario in the time to come.
The Pros
- Quiet hiring will pose a win-win situation for both the employee and the employer.
- Employees can learn new skills and expand their potential. Alongside this, companies can capitalise on their top talent to achieve successful outcomes.
- Employees can enjoy perks like bonuses and flexible working arrangements. At the same time, companies can save on their hiring expenses and collateral.
- When it comes to aligning perspectives, both the employee and the employer can find the right fit.
The Pitfalls
Not all is rosy when it comes to quiet hiring. There are some downsides too. So stay vigilant and watch out for these potential pitfalls.
At times, companies load employees with extra-duty sacks without paying them a dime. Such employers bet the least on employee value.
Avoid this red flag. It is best to draw a line between what benefits you and what burns you out.
Companies striking a fine balance between work and well-being will win an edge over the rest.
Wrapping up:
Quiet hiring is no longer a business buzzword. It will be here to stay in all its glory in 2023. Skeptics may argue that it is nothing more than an attempt to exploit employees. But do not take every word for it. If done right, quiet hiring can be a boon for both employees and employers.
Comments (0)