In the wake of last year’s “quiet quitting” phenomenon and looking forward to today’s fast-paced and ever-changing business environment, a new tactic helping companies acquire the best talent and stay ahead of the competition has emerged. “Quiet hiring” has quickly gained popularity in 2023 as the shaky outlook of the current economy and the impact of a looming recession wreaks havoc on hiring managers’ nerves.
What is Quiet Hiring?
Quiet hiring is a process of acquiring new skills without hiring new full-time employees. Instead, organizations use a variety of strategies to upskill current employees and bring in new talent on a temporary or project basis. This can include using freelancers, contractors, or consulting firms, as well as tapping into a company’s own network of employees.
The Benefits and Disadvantages of Quiet Hiring
One of the main benefits of quiet hiring is the flexibility it offers. By bringing in new talent on a project basis, organizations can quickly adapt to changing business needs without the long-term commitment of a full-time hire. Additionally, quiet hiring allows organizations to bring in specialized skills and expertise that may not be available within the company. This can be particularly useful for companies that operate in a niche or rapidly changing industry, such as technology or finance.
Another advantage of quiet hiring is cost-effectiveness. Hiring full-time employees can be expensive, especially when it comes to benefits, training, and office space. Quiet hiring, on the other hand, is a more strategic approach that takes advantage of the current skills within the organization and reduces the risk associated with new full-time hires.
On the internal side, quiet hiring refers to the process of filling a role within a company without publicly advertising the job opening. Instead, the organization may use its own internal networks, such as its employee referral program, to fill the role. This can include recruiting candidates through personal networks or using recruiting firms to conduct a search without advertising the job opening. Or, it can mean recognizing the skill sets of current employees and creating new positions for them to maximize efficiency, whether in the form of a promotion or a lateral move
Internal quiet hiring can have several benefits for organizations. For example, it can:
- Save time and resources: By not having to advertise the job opening and sift through a large number of resumes, organizations can save time and resources.
- Improve employee retention: Internal quiet hiring can help to improve employee retention by promoting from within. This can help to foster a sense of loyalty among employees, and also helps the organization to retain its corporate knowledge.
- Enhance employee development: Internal quiet hiring can provide employees with new opportunities for growth and development, which can help to keep them engaged and motivated.
However, it’s also important to consider the downsides, as with any recruiting strategy. One of the main challenges of quiet hiring is managing the relationship with external talent, and any current employees who are taking on more responsibilities. Internal employees are likely to be more at risk of facing burnout or decreased job satisfaction if their scope of responsibilities becomes too difficult to handle. It is important for organizations to have clear communication and expectations, as well as well-defined roles and responsibilities. Additionally, organizations should have a process in place to evaluate the performance of external talent and provide feedback on their work.
In conclusion, quiet hiring can be a valuable strategy for organizations looking to acquire new skills and stay ahead of the competition. By leveraging contractors and internal talent on a project basis, organizations can quickly adapt to changing business needs and bring in specialized skills and expertise in a cost-effective way.
Stay on Top of Your Hiring Knowledge for 2023
Whether or not your company plans to incorporate quiet hiring into your recruiting strategy for the year, it’s important to stay ahead of employee trends and data. Head over to Accurate Background’s blog to get the scoop on everything you need to know about background checks, employee news, hiring trends, compliance, and more.