Quit the “Quiet Hire”: “Loud Hiring” Is Possible with Finance Transformation

In the wake of global economic disruption, the work landscape is undergoing huge changes, challenging both employees and employers to redefine their roles and expectations. In collaboration with UHY Consulting, join BlackLine as we explore these shifting dynamics between employees and talent.

Against the backdrop of post-pandemic recovery, geopolitical tensions, supply chain disruptions, and talent shortages - the conversation around work-life balance, job satisfaction, and value creation has intensified. Amidst these challenges exists a pressing need to reassess conventional notions of employee roles and embrace innovative strategies to navigate the evolving workplace dynamics.

These recent economic events have given rise to two notable trends: "quiet quitting" and "quiet hiring." The term quiet quitting (also referred to as ‘acting your wage’) gained prominence as employees began to assert boundaries and prioritize their well-being amidst relentless work demands.

This phenomenon, characterized by overall disengagement from work duties, has become increasingly prevalent, with Gallup reporting that 6 in 10 workers globally are either quietly quitting or disengaging from their jobs.

At the same time, the concept of quiet hiring has gained traction as organizations seek to manage talent shortages without explicitly increasing permanent staff headcount. This strategy, identified as the top trend in Gartner's "Future of Work Trends," involves leveraging existing employees or temporary hires to fulfill additional responsibilities. While quiet hiring offers cost-saving benefits for employers, it also presents challenges such as job ambiguity and increased workload for employees, particularly in fields like finance and accounting.

From the perspective of employees, quiet hiring may offer opportunities for career advancement and job security. However, it also carries the risk of job dissatisfaction and burnout if not accompanied by clear communication and appropriate compensation adjustments. On the other hand, employers can benefit from cost savings and workforce stability but must be mindful of the potential negative impact on morale and innovation.

In response to the limitations of quiet hiring, an alternative approach emerges: "loud hiring" coupled with finance transformation.

Unlike its subdued counterpart, loud hiring celebrates and promotes internal talent, acknowledging their contributions and providing tangible rewards and recognition. This approach not only fosters a positive work culture but also enhances employee retention and organizational resilience. 

Finance transformation plays a pivotal role in supporting loud hires and empowering employees to thrive in their roles. By leveraging advanced tools and technologies, organizations can streamline processes, automate mundane tasks, and enable employees to focus on value-added activities – mitigating the risk of employee burnout in their new positions.

Moreover, cloud solutions offer flexibility and scalability, allowing employees to work remotely and adapt to changing work environments seamlessly.

For organizations embarking on finance transformation to recruit and retain top talent, these are the steps you should take:

1) Define clear goals and objectives to guide the transformation process.

2) Engage employees to identify process pain points and opportunities for improvement.

3) Embrace adaptable leading practices tailored to your organization's unique needs.

4) Prioritize cloud-based solutions for scalability and flexibility.

5) Invest in automation tools to streamline repetitive tasks and free up employee time for strategic initiatives.

As the demand for financial and accounting departments continues to rise, organizations must prioritize talent retention and development. By embracing loud hiring practices and investing in finance transformation, companies can create a supportive and rewarding work environment that attracts and retains top talent.

In doing so, they’ll strengthen their competitive advantage and contribute to the organization’s long-term success and resilience in an ever-changing world of work.

Interested in learning more about building and retaining talent within your organization?