What exactly is meant by Quiet Hiring? Understand the new buzz word in the corporate world

Employment practices all over the world keep on evolving with the changing needs. The trends are changing, and so are the hiring practices. An unusual approach to hiring has emerged that fosters targeted recruitment. The hiring process is known as "quiet hiring".

What exactly is quiet hiring? What are its potential benefits and how does the hiring method help the organizations? Let's understand bit by bit.

What exactly is Quiet Hiring?

Quiet hiring is a situation when organizations get new skills but not by hiring new employees. This means that they fill the need by acquiring temporary workers such as gig workers, freelancers, or contractors. However, it means the practice of making use of existing employees to actually fill in the skill gaps mainly.

This is done by the companies by assigning certain existing employees to new duties and rules at places where their skills are more fruitful. Another way of filling the talent gaps is by expanding the capabilities of employees by means of reskilling, training, and upskilling.

How can Quiet hiring be beneficial? Understanding the pros of quiet hiring

The method of quiet hiring has proven to be quite beneficial for several companies. A major advantage that companies get by quiet hiring is cost savings. Hiring new employees means spending more cost than upskilling the existing ones. There are several costs involved in the process of recruiting a new employee. Quiet hiring always proves to be a cost effective technique.

Another important benefit of quiet hiring is that is provides super quick access to critical skills. Sometimes, hiring new employees takes longer than it should. Moreover, the ever changing nature of the business world not always promises ample time to arrange for the missing talent. Therefore, upskilling the existing employees is always a quicker process than hiring new candidates for the work.

Many do not realize that quiet hiring is not only beneficial for the companies but also for the existing employees. This paves way for the existing employees to move towards betterment and upskilling their existing skill set. A company that not only pays well but also aids in improving the employees and providing them training time and again to make them fit for the ever changing demands of the corporate world is always a Win-win for an employee. Therefore, the method of quiet hiring may scrunch down job opportunities for the new candidates, but it ensures a brighter future for the existing employees who wish to upskill.