Tag: cost saving measures
What Is Quiet Hiring and How to Implement This Strategy
As many companies are dealing with layoffs and the threat of recession, the quest to control personnel costs while building niche skill sets has become urgent. To handle these issues, an innovative new recruiting strategy is beginning to make waves.
Called “Quiet Hiring,” this optimized hiring strategy allows you to plug the skill gaps in your workforce without increasing your employee count. The goal is to minimize the risks and expenses of hiring additional staff, particularly the risk of a bad hire.
Types of Quiet Hiring
There are two types of quiet hiring:
Internal Quiet Hiring
Internal quiet hiring focuses on current employees, homing in on those who can take on different assignments or additional responsibilities. While challenging employees by redeploying them internally is not new, internal quiet hiring is more employee-driven and time-critical.
External Quiet Hiring
External quiet hiring is an alternative approach that brings talent in on a short-term basis. Companies often draw from their ex-employee networks or enlist gig or contract workers with ultra-niche skills.
Benefits of Quiet Hiring
Increases workforce agility.
As your company needs change and niche skill requirements evolve, quiet hiring allows you to fill positions quickly by moving employees around.
Boosts employee engagement.
Quiet hiring allows employees to grow and progress in their careers with opportunities to learn new skills and achieve greater recognition and higher pay.
Reduces hiring costs.
Quiet hiring reduces costs on two fronts. First, it eliminates the need to hire new full-time employees, thus cutting the HR expenses associated with traditional recruitment and onboarding. Second, it reduces the rate of attrition among current employees. Employees are more likely to stay in a job if they feel valued and have opportunities to advance and achieve more. Quiet hiring offers those rewards and opportunities.
Quiet Hiring Step-by-Step
Quiet hiring strategies need to be carefully planned, or they could backfire. Here are the key steps to successfully implementing a quiet hiring strategy:
1. Build a solid, detailed plan.
2. Provide leadership opportunities.
3. Maintain clear communication with employees.
4. Provide training opportunities and support for employees.
5. Recognize and reward employee efforts.
6. Work with employees to design career paths.
For many companies, hiring internally is the solution to satisfy the need for talent in a competitive market. Quiet hiring allows you to create an agile workforce while controlling your costs. Plus, it’s a valuable recruiting strategy that encourages employee growth and development.