The quitting economy
aeon.co
The quitting economy
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Re: The quitting economy
#2This is very noticeable in London. It's a relative rarity to find a dev that's worked anywhere longer than a couple years. The simple economics of it is that until a certain salary, there is no easier way to ratchet up the pay scale then to use the negotiating leverage of having a job to get the next one on better terms. Meanwhile, the supply situation for devs is such that employers have to accept the situation. I'm not sure it's an employer led effect at all; especially given the size of the SME scene in London.
Re: The quitting economy
#3tl;dr: Our capitalistic economy, which incentivized the notion of "maximizing shareholder returns," created an environment in which Companies who are efficient in hiring the right amount of disposable assets. Because of this, employees better be ready to quit when they sense better pastures elsewhere.
It was a good read, and a reminder that we are all subservient to the Shareholders (directly or indirectly). The companies of the previous generation had 3 pillars that needed to be strong: Sense of Customer, Employee Satisfaction, Shareholder support. All the attention is now shifted in winning Shareholder support.
I wish we could abandon this cargo cult mentality that shareholders are the utmost important stakeholders of a company. It's already been discussed that maximizing shareholder value is meaningless: https://hbr.org/2016/09/the-false-premise-of-the-shareholder...
Re: The quitting economy
#4I've been self employed since 2006. In a way, consultants are the greatest job quitters around and the most flexible. I had so many customers/jobs in these 11 years. I didn't even have to quit and they didn't have to fire me.
About one of the points of the post, companies often chose the fashionable tools of the year because of buzzwording, ease of recruiting and because they build the CVs of managers too. Would you manage either a bunch of VB or Elixir developers today? So I'm working on Python and Elixir now, plus a Ruby pet project waiting for less busy times.
Re: The quitting economy
#5This is very noticeable in London. It's a relative rarity to find a dev that's worked anywhere longer than a couple years. The simple economics of it is that until a certain salary, there is no easier way to ratchet up the pay scale then to use the negotiating leverage of having a job to get the next one on better terms. Meanwhile, the supply situation for devs is such that employers have to accept the situation. I'm…
But how is it that there is always another company willing to pay more? Do companies hire devs with X years of experience without planning to pay more for X+1 years of experience?
Re: The quitting economy
#6It can be difficult to hire in this environment. I've had 3 employees quit less than 3 months into new full-time positions. My first inclination is to ask, "What are we doing wrong?" but the more I look around it seems like a common industry problem. Perhaps it's rational behavior - as the article highlights, companies now view people as disposable. There's loyalty to a manager, but not a company. (You always want a good reference)
Re: The quitting economy
#7[deleted]
Re: The quitting economy
#8This is very noticeable in London. It's a relative rarity to find a dev that's worked anywhere longer than a couple years. The simple economics of it is that until a certain salary, there is no easier way to ratchet up the pay scale then to use the negotiating leverage of having a job to get the next one on better terms. Meanwhile, the supply situation for devs is such that employers have to accept the situation. I'm…
But how is it that there is always another company willing to pay more? Do companies hire devs with X years of experience without planning to pay more for X+1 years of experience?
Not sure X years of experience matters all that much. For example, Java dev goes to employer and adds Hadoop to her experience, then applies for other jobs for 10k more ambiently for a few months. Eventually nails one and packs her bags, and so on recursively.
Sometimes dev don't add anything at all and just go for more money because of change in condition. JS or mobile app dev is a great example. Nothing changed; they just became more demanded. Meanwhile, you can't match someones salary to the market every day of the week, so they leave.
From the employer side London is brutal.
Re: The quitting economy
#9Earlier quoted context omitted.
But how is it that there is always another company willing to pay more? Do companies hire devs with X years of experience without planning to pay more for X+1 years of experience?
Not sure X years of experience matters all that much. For example, Java dev goes to employer and adds Hadoop to her experience, then applies for other jobs for 10k more ambiently for a few months. Eventually nails one and packs her bags, and so on recursively. Sometimes dev don't add anything at all and just go for more money because of change in condition. JS or mobile app dev is a great example. Nothing changed; th…
What do devs get paid in London on average? I always had the impression, perhaps wrong, that software engineers seem underpaid in England relative to the US, even accounting for currency and cost of living and such (which, probably London is as bad as SF on that front).
(i've also gotten the impression that there's not the same level of cultural esteem for engineers and scientists and such in England, and that this might have something to do with it. also could be wrong or outdated.)
Re: The quitting economy
#10It can be difficult to hire in this environment. I've had 3 employees quit less than 3 months into new full-time positions. My first inclination is to ask, "What are we doing wrong?" but the more I look around it seems like a common industry problem. Perhaps it's rational behavior - as the article highlights, companies now view people as disposable. There's loyalty to a manager, but not a company. (You always want a…
Often in the current market you don't even need a reference at all. Many companies refuse to provide any reference at all besides confirming an employees starting and ending dates to a prospective employer. This is I am sure to reduce the risk of litigation thus increasing shareholder value.