What is Quiet Quitting?
Have you ever felt taken advantage of at work? Unappreciated? Burnt-out? Because of this, have you started doing less at work? Maybe even the bare minimum to get the job done? This has a name and is called Quiet Quitting. Despite what you may think, quietly quitting your job doesn’t mean quitting at all. In fact, it’s the opposite. Quiet Quitting is less about what you do and more about what you don’t do.
What does Quiet Quitting actually mean?
It means employees are not going above and beyond their job description and/or pay wage and are no longer exerting any extra emotional energy in the workplace. Specifically, this can look like longer breaks, lack of team communication or comradery and less than superb results. Employees show up when they’re supposed to, without taking on any additional tasks, and go home. The workplace trend has taken Tik Tok by Storm. Users like Clayton Farris have explained the trend stating, “Quiet quitting is empowering, it’s rewarding and it’s something you should try doing today.”
Start-ups, scale-ups and SME’s often rely on a highly qualified and motivated workforce. Recruiting talent that fits the goals and growth of your company is essential to long-term success and talent retention. In this competitive market filled with exciting Fintech companies and start-ups, it is key for your company to stand out to attract new talent and prevent Quiet Quitting from the start.
How You Can Prevent Quiet Quitting in your business:
1. Establish Clear Job Expectations
Many times, quiet quitters are born from an added pile of expectations that were not initially agreed upon in the job description. While we know sometimes employees need to wear different hats, it is vital to establish clear descriptions within the job.
At Finiti we help organisations to build out job descriptions and compensation planning and this should be a continuous process. Annual reviews of job descriptions are important for talent retention.
2. Value Employees
It is incredibly important to know the value your employees bring to the table. Know their worth and acknowledge this. As recruiters, we recognise it’s a candidate market currently, so it’s important to retain good talent and to nurture talent too.
3. Offer Competitive Wages And Benchmark
The Quiet Quitting trend is also referred to as “acting your wage.” Meaning if you feel underpaid, you should act accordingly. This is why offering a competitive salary and benefits is principal in hiring and keeping employees that are fully invested in their roles and feel valued. Annual industry benchmarking is also recommended.
How to turn-it-around – FAST
You can spot quiet quitting by dialing into employees behavior and schedule. Are there signals your employees are heading down this path and is there a conversation you can have to turn things around or address this? Setting expectations and boundaries are two factors that could help turn Quiet Quitting around. Creating time to communicate priorities with employees is helpful in setting expectations and staying productive. This could look like consistent Monday meetings to discuss the week ahead and weekly check-ins to ensure the team is on the same page.
It is critical to find the perfect fit for your organisation from the start. Our recruitment services draw from a select pool of highly qualified individuals. We match Fintech candidates with roles we know they will thrive in and continue to thrive in from day one. If you’re a Fintech firm looking for insight on attracting and retaining talent, reach out to us!