Recruitment

2023 US Labor Market Guide: Comprehensive Overview and Market Predictions

Looking for the latest US labor market news? Here’s everything you need to know about the labor market and what the future may hold.

Quiet Hiring: What Is It, Where It Comes From, And How It Benefits Us All

We’ve experienced many new workplace buzzwords in the past year, including quiet quitting, quiet firing, and now…quiet hiring. Gartner listed quiet hiring as a top prediction for the 2023 workforce, so you’ll want to understand the term as we progress through this year.

Here’s everything you need to know about quiet hiring, including what it is, where it comes from, how it benefits employers and employees, and much more. Let’s dig in!

Quiet Hiring Definition

Quiet hiring is a strategy companies use to fill talent gaps without hiring new employees. When the country’s economic state is uncertain, and it’s riskier – or less feasible – to hire fresh talent, quiet hiring can fill the gaps.

Quiet hiring means evaluating an organization holistically and understanding the skills of current employees. From there, if any existing employees are capable or can be trained to assume some functions of an open role, they’ll be asked to do so. 

Essentially, quiet hiring is acquiring new skills for the organization without hiring anyone new.

Quiet Hiring Often Requires Employee Development

While it’s possible that existing talent already has all the skills to fill talent gaps, it’s unlikely. Often, employers need to train employees to assume functions related to, but outside of, their professional expertise.

Professional development’s undisputed benefits make it a worthwhile investment for employers, even beyond quiet hiring. Such benefits include:

  • Better creativity
  • Performance improvements
  • More goal-oriented work
  • Better employee retention
  • More cohesive, functioning teams

Developing employees is necessary for quiet hiring, which benefits both employees and employers. It makes employees more marketable and fuels their careers; employers avoid a costly and involved hiring process while boosting their company’s overall success.  

Why Is Quiet Hiring Becoming Popular?

Until recently, employees and candidates had control of the job market. These conditions resulted in “quiet quitting,” where employees still showed up to work and cashed paychecks but didn’t put their all into their work.

Then, the situation changed. Many employees are nervous amidst a challenging economic climate with significant tech layoffs and hiring freezes.

While employees grapple with uncertainty, employers are under immense pressure to keep costs down. Unemployment is also at historic lows, making sourcing talent significantly more difficult.

All these factors create an environment where hiring is costly, and employees are committed to proving themselves to their organizations. 

Employers need to get creative to meet their talent needs, and quiet hiring is an excellent way to do so. It also allows employees to further prove their worth and grow professionally.

How Do You Take Advantage of Quiet Hiring?

As we’ve mentioned, quiet hiring benefits both employers and employees. Let’s dive deeper.

Employers

There are numerous benefits for employers when it comes to quiet hiring, including:

  • Increased employee retention
  • Saving time and money
  • Filling immediate talent gaps without a lengthy hiring process
  • Keeping employees engaged and productive
  • Expanding internal capabilities
  • Helping employers find high performers

When companies can’t afford to hire outside the organization, quiet hiring becomes an opportunity to strengthen the existing workforce. By investing in current employees, you’re boosting their performance and lowering turnover. You’re also identifying the best performers you can develop to lead the organization.

To best take advantage of quiet hiring, start by evaluating your workforce holistically. What skills does your organization have, and what skills do you need to develop? From there, you can identify which employees have the greatest aptitude for learning and whose skills are tangential to the ones you want to build.

Provide ample support and professional development to create employees who fill your talent gaps. Professional development can include:

  • Workshops
  • Mentorship programs
  • Developing hard skills (teaching new technical skills such as CRM tools, accounting software, or managing sales pipelines)
  • Developing soft skills (communication, problem-solving, time management, creativity, leadership)
  • Professional certifications

Employees

Quiet hiring may feel like you’re being taken advantage of since you’re being asked to do more work – work you didn’t sign up for. Although this can happen (more on that next), quiet hiring is, first and foremost, an opportunity.

Quiet hiring gives employees a chance to do the following:

  • Grow current skills
  • Learn new skills
  • Try new things
  • Further prove their worth to employers
  • Demonstrate more impact that can help with landing jobs in the future
  • Become better equipt to lead
  • Drive their long-term careers

Taking on new skills and demonstrating adaptability proves your worth as a potential leader. If you want to climb the corporate ladder, quiet hiring is the perfect opportunity to further your career.

Additionally, by taking on new work, you put yourself in a position to negotiate for better pay, benefits, resources, professional training, and other perks.

Quiet Hiring Red Flags

Quiet hiring comes with many opportunities but can be taken too far. As an employer, avoid the following red flags. For employees, be on the lookout for them and call them out right away.

  1. Lack of Professional Development

Leaving employees without support while they attempt new tasks sets everyone up for failure. 

To ask employees to fill skill gaps, employers must provide ample support. Professional development is essential for this process and builds talent that exceeds expectations.

  1. Unchanged Salary

Asking employees to take on new tasks and not compensating them appropriately will lead to resentment and burnout. Compensation must reflect expanding tasks and an increased workload.

Employees should negotiate their salaries before committing to additional work, and employers must be open to these conversations. 

  1. One-Way Conversations

Quiet hiring is a significant change for an organization and dramatically affects employees. Delegating work without being open to conversations about the process is detrimental to all. Optimizing the process will have a learning curve, so employers should be open to feedback.

Two-way conversations are critical. Employers should seek information on:

  • Where employees feel they can add the most value
  • If employees feel overloaded with their new workload
  • Whether there’s enough professional development to support these transitions
  • Anything else employees think is relevant

Other Cost-Cutting Recruitment Strategies

Quiet hiring is one major way companies can reduce recruitment costs. Here are a few others to consider.

  1. Expand Sourcing

The smaller your sourcing pool, the less talent you have accessible. To make hiring easier, look for talent in diverse places, including job boards, networking events, social media, and referrals.

Importantly, when it comes to job boards, look for niche job boards that pertain to your open roles. 

Crunchboard is TechCrunch’s job board that is excellent for sourcing tech talent. Dribble is a popular portfolio site designers use with a job board for sourcing these types of candidates. 

Getting specific helps you find the most qualified talent.

  1. Utilize Networking

Referrals and utilizing your network are great ways to reduce hiring costs. Allow everyone in the company to participate, and incentivize successful referral hires with bonuses. If an employee you trust refers someone they trust, the odds of that person working out are higher than a random hire.

  1. Optimize Job Descriptions and Postings

The more specific your job postings, the more qualified candidates you’ll attract. Avoid wasting time sifting through unqualified applicants by clearly listing job requirements and the types of candidates you’d like to see.

You’ll also want to tell candidates the benefits of working for your organization. Here’s a deep dive into creating optimized job descriptions.

  1. Outsource Critical Hiring

If quiet hiring won’t cut it, consider outsourcing the hiring process when hiring for your most critical roles. Fill these positions quickly and accurately to avoid the cost of a bad hire, which is usually around 30% of the role’s annual salary.

The need to hire efficiently is especially true for senior- and executive-level positions. When pressure runs high, and companies can’t afford mistakes, they need to execute these crucial hires flawlessly.

Jennings Executive specializes in matching companies with the best senior- and executive-level talent for their organization. We know how to help you build successful teams and generate value for your stakeholders.

Similarly, if you’re an employee who’s being taken advantage of by quiet hiring at your company, Jennings Executive can help you find a better job elsewhere. 
Whether you’re an employer or employee, Jennings Executive can help. Learn more today!

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Brian Banister

EXECUTIVE RECRUITER

BRIAN BANISTER IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH.

BRIAN HAS A BROAD RANGE OF EXPERIENCE, HAVING WORKED IN STRATEGY & CORPORATE DEVELOPMENT, FINANCIAL PLANNING & ANALYSIS, AND PUBLIC ACCOUNTING ROLES FOR LEADING COMPANIES AND CLIENTS IN THE HOSPITALITY, REAL ESTATE, MANAGEMENT CONSULTING, AND TECHNOLOGY, MEDIA, AND TELECOM (TMT) SECTORS.

HE BEGAN HIS CAREER AT DELOITTE & TOUCHE, WORKING AS A LICENSED CPA. AFTER DELOITTE, BRIAN PIVOTED INTO CORPORATE FINANCE, WHERE HE HELD POSITIONS IN STRATEGY & CORPORATE DEVELOPMENT AT INTERCONTINENTAL HOTELS GROUP (IHG) AND COX COMMUNICATIONS, AS WELL AS AN FP&A ROLE AT BOSTON CONSULTING GROUP (BCG). THESE ROLES ALLOWED BRIAN TO GAIN VALUABLE EXPOSURE IN AREAS LIKE CLIENT SERVICES, STRATEGIC CONSULTING & PLANNING, FINANCIAL ANALYSIS, AND M&A AND INVESTMENT ACTIVITY. HIS BACKGROUND, COMBINED WITH A PASSION FOR BUILDING LONG-TERM, VALUABLE RELATIONSHIPS, HAS LED HIM TO PURSUE A CAREER AS AN EXECUTIVE RECRUITER.

BRIAN’S EDUCATION INCLUDES BOTH A MASTER OF ACCOUNTANCY DEGREE AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING DEGREE FROM THE UNIVERSITY OF GEORGIA.

Lori Shad

EXECUTIVE RECRUITER

DRIVING TRANSFORMATION THROUGH PEOPLE IS OUR MISSION AND LORI’S PASSION AS AN EXECUTIVE RECRUITER WITH JENNINGS EXECUTIVE SEARCH. SHE CONDUCTS THOROUGH RESEARCH ON EACH ROLE AND BUILDS STRONG RELATIONSHIPS WITH CANDIDATES TO HELP CONNECT PROFESSIONALS WITH THEIR NEXT GREAT OPPORTUNITY.

LORI SPENT 22 YEARS AT A FORTUNE 500 INSURANCE COMPANY IN PRODUCT MANAGEMENT, SALES/BUSINESS CONSULTING, AND RECRUITING ROLES. SHE USES THIS EXPERIENCE AS SHE SEARCHES FOR THE BEST TALENT TO HELP DRIVE CLIENT SUCCESS FORWARD. SHE’S FOCUSED ON DELIVERING RESULTS AND GETS THERE THROUGH DISCIPLINED AND TENACIOUS HARD WORK WITH AN EMPATHETIC, COMPASSIONATE, FUN, GENUINE, AND POSITIVE APPROACH. SHE HAS BEEN INSTRUMENTAL IN HELPING CLIENTS ACHIEVE BUSINESS OBJECTIVES THROUGH UNDERSTANDING NEEDS, CREATING INDIVIDUAL, DATA-DRIVEN SOLUTIONS, AND SOLVING PROBLEMS, AS WELL AS POSITIVE RELATIONSHIP BUILDING AND TEAMWORK.

LORI GRADUATED WITH A BACHELOR OF SCIENCE DEGREE FROM THE UNIVERSITY OF GEORGIA.

Justin Graves

EXECUTIVE RECRUITER

JUSTIN GRAVES IS AN ACCOUNT MANAGER AT JENNINGS EXECUTIVE SEARCH.

JUSTIN HAS A VARIETY OF EXPERIENCE WORKING WITHIN PUBLIC AND INDUSTRY ACCOUNTING. HE BEGAN HIS CAREER WITH PATHSTONE FAMILY OFFICE PREPARING TAX RETURNS FOR HIGH NET WORTH INDIVIDUALS AND CORPORATIONS IN THE ATLANTA AREA. IN JANUARY 2015, HE JOINED COHNREZNICK, LLP, A TOP 10 PUBLIC ACCOUNTING FIRM, IN AUDIT & ASSURANCE WORKING PRIMARILY IN THE COMMERCIAL REAL ESTATE AND HOUSING MARKET. PRIOR TO JOINING JENNINGS EXECUTIVE SEARCH, JUSTIN WORKED AT FAST GROWING TECHNOLOGY COMPANY, SS&C TECHNOLOGIES, WHERE HE WORKED IN THE REAL ASSETS DEPARTMENT DOING FUND ADMINISTRATION. JUSTING BRINGS OVER 4 YEARS OF TAX AND INDUSTRY EXPERIENCE.

JUSTIN GRADUATED WITH A BACHELORS OF SCIENCE DEGREE IN ACCOUNTANCY FROM OGLETHORPE UNIVERSITY, MAY 2014, IN ATLANTA, GA.

Justin Jennings

EXECUTIVE RECRUITER

JUSTIN JENNINGS IS AN EXECUTIVE RECRUITER AT JENNINGS EXECUTIVE SEARCH. HE COMES FROM THE HEALTHCARE INDUSTRY WITH 15 YEARS OF MEDICAL SALES EXPERIENCE. HE ATTRIBUTES HIS SUCCESS IN SALES TO LISTENING AND LEARNING FROM HIS CUSTOMERS AND ENJOYS THE PROCESS OF SOLVING PROBLEMS. HE IS SKILLED AT DEVELOPING THE RIGHT ACTION PLAN FOR EACH OF HIS CLIENT’S UNIQUE NEEDS AND COMMITTED TO HELPING THEM CHOOSE THE BEST SOLUTION.

JUSTIN HAS TAKEN HIS SPIRIT AND PASSION FOR SELLING TO THE WORLD OF RECRUITING. HE HAS A GOAL OF SURPASSING HIS CLIENT’S EXPECTATIONS AND ASSISTING THEM WITH TALENT ACQUISITION.

JUSTIN GRADUATED WITH A BACHELOR OF SCIENCE IN MANAGEMENT FROM GEORGIA INSTITUTE OF TECHNOLOGY. WHEN NOT AT WORK, YOU CAN FIND HIM ON HIS MOUNTAIN BIKE, THE GOLF COURSE, OR SKIING OUT WEST IN THE WINTERS.

Chip Locke

PRACTICE LEAD, TECHNOLOGY RECRUITING

CHIP LOCKE IS THE TECHNOLOGY RECRUITING PRACTICE LEAD FOR JENNINGS EXECUTIVE SEARCH.

CHIP BRINGS 15 YEARS’ EXPERIENCE IN TECHNOLOGY AND TECH RECRUITING INCLUDING HANDS-ON WORK AS A SOFTWARE DEVELOPER AND BIG 4 SYSTEMS CONSULTANT. HE IS A TRUSTED CIO ADVISOR WITH EXPERIENCE ACROSS INDUSTRY VERTICALS AND A DEEP UNDERSTANDING OF TECHNOLOGY PLATFORMS AND THE FUNCTIONAL AREAS OF DELIVERY THAT ENABLE BUSINESS OPERATIONS. HIS EXPERIENCE INCLUDES RECRUITING EXECUTIVES AND COLLABORATING WITH THEM FOR THE STRATEGIC PLANNING AND IMPLEMENTATION OF IT ORGANIZATIONS. CHIP TAKES HIS ROLE AS SEARCH PARTNER SERIOUSLY, AND AS A TRUE PARTNER, HOLDS HIMSELF AND HIS TEAMS ULTIMATELY ACCOUNTABLE FOR DELIVERING ON CLIENTS’ HIRING GOALS.

HIS CLIENT SUCCESS STORIES CAN BE FOUND AT COMPANIES RANGING IN SIZE FROM STARTUP TO FORTUNE 500 ACROSS AVIATION, ENERGY, FINANCE, HEALTHCARE, HIGH-TECH, MANUFACTURING, RETAIL AND TELECOMMUNICATIONS.

CHIP GRADUATED FROM THE UNIVERSITY OF GEORGIA WITH A BACHELOR OF BUSINESS ADMINISTRATION DEGREE IN MANAGEMENT INFORMATION SYSTEMS.

Brian Gelfand

PARTNER

BRIAN GELFAND IS A PARTNER AT JENNINGS EXECUTIVE SEARCH.

HE BEGAN HIS CAREER AT DELOITTE & TOUCHE IN AUDIT AND ENTERPRISE RISK SERVICES, WITH A FOCUS ON THE FINANCIAL SERVICES AND REAL ESTATE INDUSTRIES. AT DELOITTE, BRIAN GAINED VALUABLE CORPORATE EXPERIENCE WORKING WITH A MULTI-BILLION DOLLAR PUBLIC MORTGAGE SERVICING CORPORATION, AND A NOT-FOR-PROFIT FOUNDATION WITH OVER $10 BILLION IN ASSETS. BRIAN HAS PASSED ALL FOUR SECTIONS OF THE CPA EXAM ON HIS FIRST ATTEMPT.

BRIAN’S EDUCATION INCLUDES A MASTER OF ACCOUNTANCY FROM KENNESAW STATE UNIVERSITY AND A BACHELOR OF BUSINESS ADMINISTRATION IN ACCOUNTING FROM GEORGIA COLLEGE & STATE UNIVERSITY.

Jon Jennings

FOUNDER / MANAGING PARTNER

JON JENNINGS IS THE FOUNDER AND MANAGING PARTNER OF JENNINGS EXECUTIVE SEARCH. ESTABLISHED IN 2014, HIS VISION WAS TO SHAPE A FIRM ANCHORED IN TRANSPARENCY AND VALUE CREATION. OVER THE YEARS, JON HAS HAD THE DISTINCT OPPORTUNITY TO ENGAGE WITH AND LEARN FROM LEADING INDUSTRY EXECUTIVES, GLEANING INSIGHTS FROM THEIR EXPERIENCES AND COMBINING THIS KNOWLEDGE WITH THOROUGH RESEARCH. THIS HAS EQUIPPED HIM TO OFFER A DEEPER, MORE STRATEGIC PERSPECTIVE ON ORGANIZATIONAL DESIGN AND TALENT IDENTIFICATION.

FROM INITIALLY SPECIALIZING IN FINANCE, JON DOVE INTO PRICING AND EVENTUALLY INTO MORE BROAD COMMERCIAL STRATEGY. BY 2017, HE RECOGNIZED THAT EFFECTIVE PRICING STRATEGY HARMONIOUSLY MERGES FINANCE, PRODUCT, MARKETING, AND SALES. HE DISCERNED THAT PRICING, WITH ITS INTRICATE MIX OF ART AND SCIENCE, HAS THE TRANSFORMATIVE POWER TO IMPACT NOT ONLY PROFITS BUT ALSO MARKET DYNAMICS AND AN ORGANIZATION’S OVERALL IDENTITY. TODAY, JON, TOGETHER WITH HIS EXPERIENCED TEAM OF EX-CONSULTANTS, COLLABORATES WITH PREMIER CONSULTING FIRMS TO ENHANCE THEIR PRACTICES. SIMULTANEOUSLY, HE ASSISTS PRIVATE EQUITY GROUPS AND THEIR PORTFOLIO COMPANIES IN REFINING AND FORTIFYING THEIR COMMERCIAL AND FINANCIAL STRATEGIC OPERATIONS.

THE CULMINATION OF THESE EFFORTS IS A BOUTIQUE FIRM THAT INC.COM CELEBRATED AS ONE OF THE COUNTRY’S FASTEST-GROWING COMPANIES. BETWEEN 2019 AND 2022, THE COMPANY WITNESSED A STAGGERING GROWTH RATE OF NEARLY 600%.