Article: Leverage 'quiet hiring' to improve talent retention: Sagar Pandey, Head HR, Swastika Investmart

A Brand Reachout InitiativeLearning & Development

Leverage 'quiet hiring' to improve talent retention: Sagar Pandey, Head HR, Swastika Investmart

"HR leaders must drive internal talent mobility programs to enable employees to move into new roles within the organisation," said Sagar Pandey, Head- Human Relations, Swastika Investmart Limited.
Leverage 'quiet hiring' to improve talent retention: Sagar Pandey, Head HR, Swastika Investmart

Giving a new spin to the viral wave of 'quiet quitting', in 2023, HR leaders have the opportunity to begin the trends of 'quiet hiring' and acquire new skills and capabilities without adding new full-time employees.

In a recent interview with People Matters, Sagar Pandey, Head- Human Relations, Swastika Investmart Limited throws more light on 'quiet hiring' and how organisations and employees can benefit from it. He also talks about the future of HR in SMEs and startups. 

How can organisations prioritise well-being and create a psychologically secure work environment? 

Fostering a psychologically safe work environment is crucial to maintain a healthy balance between work and leisure. Besides enhancing employee productivity, it also increases job satisfaction and employee retention rate.

One way of constructing such a positive atmosphere is by providing a way for clear communication that in turn helps in building trust.

When priority is given to the well-being of employees, it establishes a positive working culture and offers chances for learning and development of new skills. Employees are constantly looking for a supportive environment that benefits both workers and the firm as a whole.

How can quiet hiring open up new opportunities to hire in-demand talent?

Since quiet hiring involves proactively identifying and engaging with potential job applicants, it helps in reaching out to passive and quality candidates. Increasing upskilling opportunities for existing employees as business needs evolve will also be key. 

Conventional recruiting procedures are time-consuming and cumbersome. By employing quiet hiring methods, a large chunk of your work gets sorted out as you find and build talent within the organisation.  

Quiet hiring will ensure your existing pool of top talent is engaged and upskilled. They will not only be ready for the next role but feel more valued leading to improved retention. Besides, high-quality candidates suitably get attracted owing to personalised messaging involved in quiet hiring. Through this, a candidate can obtain insights about the workplace environment beforehand.

How will big data and AI affect the future of HR?

Big data and AI are already transforming the field of human resources, and their impact is likely to continue to grow in the coming years. Recruiters can leverage tech by analysing resumes, social media profiles, and other data sources to identify best-fit candidates.

AI chatbots can further help HR teams automate routine tasks, such as answering employee questions and scheduling meetings. Identification of performance gaps is a prominent issue often faced by recruiters. By investing in technological advancements, targeted training and development opportunities can also be provided.

AI has the potential to revolutionise HR by streamlining recruitment, providing predictive analytics, enhancing performance management, personalizing learning and development, and improving employee engagement.

What does the future of HR look like in light of the labor market skills shortage?

In light of the labor market skills shortage, the future of HR is likely to focus on attracting and retaining talent through a range of strategies. Firstly, to address the skill shortage issue, HR teams may need to invest in training and development programs that help employees acquire the necessary skills, to succeed in their roles. Moreover, internal mobility programs can help in filling out skill gaps. These programs enable employees to move into new roles within the organisation, which is quite resourceful in itself. 

In a tight labor market, employee retention becomes even more important. HR teams can also focus on developing programs that help retain top talent, such as offering flexible work arrangements, providing career development opportunities, and offering competitive compensation packages.

Read full story

Topics: Learning & Development, Talent Management, #SMEcorner, #Leaders Talk

Did you find this story helpful?