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Who Is Driving the Great Resignation?

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Re: Who Is Driving the Great Resignation?

#41

Post by tick_tock_tick »

user-the-name wrote: post #35
rcpt wrote: post #23

People are getting fuck you cash from stocks, housing, crypto. What's the point in working for a few thousand dollars every other week when your portfolio swings double that every day.

People, on average, lose money trading crypto. This is just a simple mathematical property of the crypto market. On paper , it looks like a lot of people made a lot of money. But in actual money, on average, you will lose.

> This is just a simple mathematical property of the crypto market.

What? I don't doubt that people on average lose money but I don't know of anything fundamental about crypto markets that makes it a mathematical property...

Re: Who Is Driving the Great Resignation?

#42

Post by abakker »

giantg2 wrote: post #37
willvarfar wrote: post #29

Earlier quoted context omitted.

Standard advice is to be falsely positive in exit interviews. The internet is awash with guides to not burning bridges etc.

At my company, the bridge auto-ignites behind you. They blacklist you. They also won't provide referenced nor allow manager to give you one.

I suspect that may not be legal?

Re: Who Is Driving the Great Resignation?

#43

Post by ryandrake »

sbarre wrote: post #27

The focus in the article on mid-career people was interesting. I wonder how many of those people are (finally?) realizing that hoping for advancement in the same company is the slow path for most people, and that taking your skills and experience somewhere else in a hot market is - all other things being equal - often a better option for your own career growth. All things are not equal of course, so I'm sure it's mor…

I guess it depends on how you define "mid-career". If you assume people generally work from, say, 20 years old to 70 years old, mid-career would be about 45. As a 45-year old in tech, I can emphatically say, the days of switching jobs for a 10+% comp bump are long, long in my past. I remember my first job change was from $45K to $60k, an incredible +33%, but each subsequent hop has been significantly less, until my most recent job change which was around +0.5%. Most of us will reach a plateau, and I'd argue by mid-career (again, assuming in your 40s), you're finished hopping for advancement salary-wise.

EDIT because I can't reply: Got it--busted for not reading the article! Considering 30 year olds "mid career" makes me feel pretty old!

Re: Who Is Driving the Great Resignation?

#44

Post by toomuchtodo »

giantg2 wrote: post #37
willvarfar wrote: post #29

Earlier quoted context omitted.

Standard advice is to be falsely positive in exit interviews. The internet is awash with guides to not burning bridges etc.

At my company, the bridge auto-ignites behind you. They blacklist you. They also won't provide referenced nor allow manager to give you one.

Yikes, run!

Re: Who Is Driving the Great Resignation?

#45

Post by Spooky23 »

willvarfar wrote: post #8

My own personal data point is that, with COVID, some tech companies are embracing remote work and suddenly I can enter a much wider and higher paid job market without having to relocate. Companies that aim to get butts back in the office are going to have a huge brain drain.

Tech has the additional factor of companies using their billions of dollars sitting around unproductively to entrap their companies.

Some of the cloud companies acquire talent to keep their customers trapped. I have colleagues who are system administrators and are getting $500k comp as individual contributors, way in excess of their value. One bank junior vp type guy got a 3x pay increase, because he knew where the bodies were buried for a major cloud implementation.

Re: Who Is Driving the Great Resignation?

#46

Post by tkojames »

willvarfar wrote: post #29
lrem wrote: post #19

Earlier quoted context omitted.

Asking why they leave is risky. You might learn things you don't want to learn.

Standard advice is to be falsely positive in exit interviews. The internet is awash with guides to not burning bridges etc.

Yep my dad drilled that one into me. Every exit interview I have done is the same exact script. I really was not looking I am quite happy here but this was to good of opportunity to turn down.

Re: Who Is Driving the Great Resignation?

#47

Post by neltnerb »

Guest42 wrote: post #21
daxfohl wrote: post #16

Earlier quoted context omitted.

The opposite effect could be in play here too: remote employees feel less connected to their team and are more willing to quit.

Anecdotally, I've seen 4 people leave for career advancement versus 1 that left due to wanting to be in the office.

Feeling disconnected from the team because you're all remote doesn't necessarily mean you want to be in the office.

I think it's more like... you aren't as loyal to the team and company and so make career moves for personal or professional reasons that you might have delayed otherwise.

Re: Who Is Driving the Great Resignation?

#48

Post by kylecordes »

I have hired over a dozen people so far this year, and interviewed a substantial multiple of that.

About half of interviewees, when asked what they are looking for in a new position, answer some variant of: my current/old job wants us to come back to the office full-time.

Of course it's hard to say how permanent this all will be, what things will be like in a decade. But for now, requiring on-site work is a significant disadvantage in hiring and retention.

Re: Who Is Driving the Great Resignation?

#49

Post by nkingsy »

willvarfar wrote: post #29
lrem wrote: post #19

Earlier quoted context omitted.

Asking why they leave is risky. You might learn things you don't want to learn.

Standard advice is to be falsely positive in exit interviews. The internet is awash with guides to not burning bridges etc.

Just to hammer this home, at my last job, I was planning to transition out slowly, wrap up projects, document, etc. I gave some actionable feedback when they asked why I was leaving in the meeting to discuss that transition.

I think it was along the lines of “you now have 2 engineers and 8 people managing those engineers. It seems you have a retention problem and are management heavy. You also have some great engineers you promoted to management who likely have something to do with the bad retention. Maybe they should start coding again.”

I was fired on the spot. Gave me a month to leetcode grind, so I can’t complain.

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