Thread regarding Optum layoffs

Article in news today that is happening now at Optum.

The concept of 'quiet hiring' is gaining traction in today's workplaces, where employers discreetly promote or offer raises to existing staff instead of seeking external talent. This article explores the benefits and drawbacks of quiet hiring from both employer and employee perspectives. Employers appreciate reduced risk and pre-qualification of talent, while employees may find opportunities for recognition and reward. However, potential drawbacks include expanded job responsibilities without extra compensation. The piece concludes with practical tips for employees to navigate quiet hiring, emphasizing skills development, leadership qualities, and seeking feedback.

1. Understanding Quiet Hiring:
   
   • - 'Quiet hiring' is a subtle practice where companies promote or offer pay raises to existing employees rather than hiring externally.

• - This approach contrasts with traditional practices of formal promotions and external hires.

2. Benefits for Employers:
   
   • - Lower risk and liability compared to hiring externally.

• - Ability to assess an employee's capability before a formal promotion.
• - Avoidance of discontent among overlooked employees when formal promotions are not given.

3. Benefits for Employees:
   
   • - Reduced competition with external talent.

• - Recognition and rewards for exceeding expectations and taking on additional responsibilities.

4. Drawbacks for Employees:
   
   • - Potential expectation to perform duties beyond the original scope without extra compensation.

• - The risk of not being adequately rewarded for extra effort.

5. Tips for Employees:
   
   • - Review work contracts to understand expectations and identify tasks beyond the scope.

• - Demonstrate initiative by going the extra mile in tasks and responsibilities.
• - Expand skills through certifications or workshops.
• - Seek mentorship to show willingness to learn and grow.
• - Exhibit leadership traits, such as helping coworkers and maintaining a positive attitude.
• - Request feedback regularly to demonstrate a commitment to improvement.

6. Conclusion:
   
   • - Quiet hiring has both advantages and disadvantages for employees, offering recognition for hard work but also potential challenges.

• - Employees may need to navigate these dynamics as salary increase expectations shift in various industries heading into 2024.