Have You Heard About Quiet Hiring?
Adanna Bankole, MSc.
Experienced Programme/Project Manager | I coach Project Managers | And, I talk about AI, Project Management, Financial Education, Business & workplace culture in my newsletter
First there was the “Great Resignation”, which became popular during and immediately after the pandemic. Spurred on by those seismic, life-changing events which made us all rethink our careers and life choices, many opted out of the jobs they had done up till then, the aiming to find or create opportunities more aligned with their “lockdown awakening”.?
Fast forward to 2024, and…?
…there has been significant inflation and interest rate rises, in creases in energy prices, cost of living crises, and stagnation/contraction in the economy.?
What does that mean? The job market has taken a downward turn, and many of the companies that embarked on hiring sprees during the pandemic have reduced headcount by implementing layoffs and redundancies. People are reluctant to change jobs, as a result employee attrition is lower overall. Where there are vacancies, they are filled by internal hires.?
Hence the term “quiet hiring”.
All roles are advertised, as they have to be by law. But even before that happens, those roles have been earmarked for someone else. It could be a candidate who is known to the hiring manager, or an existing team member.
One of the good things about quiet hiring is that organisations are looking inwards and focusing on how best to train, develop and upskill existing staff. It opens up opportunities to those internally who want them and have ambitions to progress.?
Of course, the flip side is that external candidates aren’t given a chance and stay on the job market for longer.?
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They waste time applying and interviewing for roles that aren’t actually available, only for those roles to be assigned to candidates who are already known to the hiring managers.?
Have you noticed the Quiet Hiring trend in your professional journey, or been a beneficiary?
Financial Education To Be Expanded In Schools
Following a six-month review, MPs in the education committee have woken up to the fact that financial education as it currently exists in schools does not meet the demands of the 21st century.
The committee concluded that financial education in primary schools is insufficient and needs to be expanded.
Considering that younger children are targeted by online marketing and may be subject to financial risks and pressures, it urged the government to review the maths curriculum and expand the provision of financial education in both primary and secondary schools.
Such recommendations have been made before, but will we see a change soon?