Instead of constantly expanding the workforce through external hires, companies are increasingly focusing on upskilling and retraining the talent right under their noses, to meet evolving business needs, René Janssen writes.

In today’s fast-paced business environment, maintaining a steady headcount while simultaneously investing in the professional development of existing staff has become a concern for many organisations. 

Enter “quiet hiring” — a sign of the times that allows employers to bridge talent gaps while achieving both objectives.

Quiet hiring is gaining traction as a strategic alternative to traditional recruitment methods. Instead of constantly expanding the workforce through external hires, companies are increasingly focusing on upskilling and retraining the talent right under their noses, to meet evolving business needs. 

By doing so, they not only maintain a stable headcount but also foster a culture of continuous learning and growth within their organisation.

Just last year, Gartner listed quiet hiring as one of the top workforce predictions for 2023, underscoring its increasing importance. Unlike other buzzwords, quiet hiring appears here to stay and is perfectly positioned to disrupt conventional recruitment strategies.

Potential sitting right in front of the bosses’ noses

The skills gap has been blown wide open, with AI playing a critical role in its expansion. AI is not just a desirable skill anymore; it has become indispensable for learning and career progression, and is sought after by most, if not all hiring teams. 

The past year has unveiled an increase in fire-and-rehire tactics, with numerous companies — including Google, TikTok and Grammarly — announcing staff layoffs, primarily to accommodate the next phase of an AI-skilled talent.

These global waves of layoffs have left companies grappling with a bigger challenge: balancing workforce numbers while still investing in the growth of teams. 

Upskilling, seen as a strategic investment, offers a pathway for companies to not only weather the storm of layoffs but also to emerge stronger and more competitive in the long run.

That’s where upskilling comes in. Rather than viewing layoffs as the only solution to employee optimisation, management teams are recognising the immense potential that lies within their existing talent pool. 

Upskilling, seen as a strategic investment, offers a pathway for companies to not only weather the storm of layoffs but also to emerge stronger and more competitive in the long run.

By investing in upskilling initiatives, companies can empower their employees to acquire new skills, adapt to evolving technologies, and take on new challenges. 

Rather than viewing employees as having fixed skill sets, companies can unlock the untapped potential sitting right within their back office.

Retrain (and promote) to retain

Quiet hiring also encourages a culture of continuous learning and development within the workforce, driving employees to proactively seek out and pursue professional growth opportunities. 

This is done by empowering existing talent, encouraging them to explore different roles and projects within the company, and investing in their development. By taking these steps, management teams can mitigate talent shortages, all while also driving employee loyalty, satisfaction, and retention.

Tangible skills have never been more important. In fact, our latest research reveals that companies are integrating intentional learning with key skills like leadership, collaboration, and analytical thinking, aiming to both nurture professional growth and cultivate a supportive team culture. 

However, only 26% of workers believe their employer treats them as a whole individual, who can offer unique contributions and a unique portfolio of skills to the organisation. 

In order to retain top talent, it’s important that organisations prioritise internal career growth opportunities, reducing overall reliance on external hires and steering clear of stagnant career mobility.

In today’s shifting workplace dynamic, a strategic approach to talent management is essential. Quiet hiring, coupled with robust upskilling initiatives, offers a sustainable solution to bridging the skills gap and ensuring long-term success.

Admittedly, any amount of change can stir up mixed feelings among employees, whether big or small. It’s expected that some employees may feel hesitant to veer off their current path. 

However, a situation where employees feel they have limited opportunities for advancement or progression within their current organisation can feel much more daunting. This lack of career movement and growth can quickly lead to feelings of stagnation, frustration, and dissatisfaction among employees.