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“Great resignation” wave coming for companies

axios.com

441–450 of 1001 posts

Re: “Great resignation” wave coming for companies

#441

Earlier quoted context omitted.

> Maybe it's more of a European thing to do. Yeah, for Americans it means buying health insurance which is quite a lot more expensive than what you get from your employer.

You are not getting health insurance in most European countries unless you are working or registered as unemployed and remain at disposal of the local job centre. And the whole meme that a 65% tax rate +25% vat on most products on top of it (I am in Sweden) is somehow worth it financially because "fReE HeAlThCaRe" is laughable.

The vast majority in Sweden pays nothing like "65% tax rate + 25% vat", though. To get to that tax rate you need to earn far above average.

Someone who is single with no child earning 167% of an average wage pays ~35% income tax and social security contributions [1].

The effective VAT also for most ends up far lower as a proportion of income, as most people don't spend anywhere near their whole income on VAT-rated products. For starters, you can't spend what you've already paid in tax. As such the VAT rate has a relatively low impact on total tax paid - the difference between the UK vat rate when I moved here (at the time 17.5%) and the Norwegian VAT rate of 25% added up to only about 1 percentage point difference in total taxation for me.

[1] Source: OECD Taxing Wages 2021

Re: “Great resignation” wave coming for companies

#442
post #263

> Surveys show anywhere from 25% to upwards of 40% of workers are thinking about quitting their jobs. This number is meaningless without previous year trends. In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. Expressing intent to resign, and actually resigning are completely different things. (edit: to clarif…

> In my circles, everyone from 25-35 is simultaneously preparing to FIRE It's still shocking to me how "chill" this is. "Oh yeah, I'm about to FIRE, no big problem". Achieving FIRE is such a mind blowing concept to me, Let alone at 25-35!!! Where I live we don't have fat six figure salaries flying around allowing us to accumulate a chunky ETF portfolio to live off of. Be grateful for what you have achieved! > Suddenl…

Just a warning to those planning to do this: you are taking an incredible risk with your future that I think is undervalued. Circumstances beyond your control can make your plans financially unviable and by retiring so early you have absolutely no room for error. All it takes is one change in health or a regulation for your whole plan to be instantly invalidated.

For those that have the ability and the desire to retire: congratulations! Please be careful!

Re: “Great resignation” wave coming for companies

#443

Earlier quoted context omitted.

These comments about how the market is on fire for developers always make me sad. Not your fault, but outside the US (and maybe western/northern Europe) you get lowballed hard, even with years of experience. And the supposedly lower CoL doesn't make up for it, at all, not even remotely. I'm not even talking about getting crazy bay area compensations, I'm talking about hoping something better than a $25k-$45k range fo…

Out of curiosity, where are you located?

East Asia.

If you are looking to fill a position coming with a decent pay, I'm all ears :)

Re: “Great resignation” wave coming for companies

#444
post #294

Earlier quoted context omitted.

> trust fund crowd You're on a discussion board filled with software developers and tech employees generally. The vast majority of such workers make a lot of money. If you're working in tech and you can't bank enough to take 6m-1yr off, you're doing your finances wrong. It doesn't require a trust fund to avoid the hedonic treadmill and save up.

Heck, I’m a poor grad student who gets a stipend from my program and is lucky enough to have parents willing and able to pay my rent. My total income including that family support is probably around $40k and I saved a ton of money this past year since I couldn’t do anything. I can only imagine how much someone in my situation with a FAANG income would have saved.

[deleted]

Re: “Great resignation” wave coming for companies

#445

Earlier quoted context omitted.

I don't see this as much different from "sure, if you don't have a million dollar mortgage and 2 car payments to cover!" Having a family is partially a financial decision. People should make the decision with eyes wide open, having planned for it. Achieving a financial position above sustenance before having the expensive family is generally a good idea. Same as buying the house and cars.

You are thinking from the point of view of someone with no mortgage, no family and you can choose what to do with your spare income. Some of us have a family or a house and that means they have renounced traveling. You can have a family, a house be sustainable but not earning enough to be able to pay for a year off of work. Which is the lot of 99.99% of people on this planet.

> You can have a family, a house be sustainable but not earning enough to be able to pay for a year off of work.

I think we have different definitions of "sustainable", then.

What you're describing sounds one step up from living paycheck to paycheck. And the fact that "most people are in that position!" doesn't make it a good position to be in, or a necessary one.

Re: “Great resignation” wave coming for companies

#446
post #437

Earlier quoted context omitted.

Obviously if your parents are paying your largest expense, you can save a ton of money. I would assume most people aren't that fortunate.

My point is even with that money my income isn’t that high compared to software engineers.

If you were suddenly responsible for your room and board how long could you coast without a job or other support?

Re: “Great resignation” wave coming for companies

#447
post #263

> Surveys show anywhere from 25% to upwards of 40% of workers are thinking about quitting their jobs. This number is meaningless without previous year trends. In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. Expressing intent to resign, and actually resigning are completely different things. (edit: to clarif…

> Real Translation: Covid has made people miserable in their jobs.

contradicts

> This number is meaningless without previous year trends.

Re: “Great resignation” wave coming for companies

#448
post #46
post #20

Earlier quoted context omitted.

And health insurance.

Damn, America really needs to get their act together. Being from England, I hadn't even considered that healthcare is something that has to be factored into whether someone could take time off

But thats the same as Germany, no? You still have to pay for health insurance when you quit your job, so thats something to take into consideration before you resign, not only in USA.

Re: “Great resignation” wave coming for companies

#449
post #50

Earlier quoted context omitted.

I think this is horrible advice. I’ve hired all sorts of people with voluntary time off on their resume. Your experience doesn’t ‘expire’ in a single year. Life is about more than just working, if you have the money to take time off to enjoy your life you shouldn’t not do it out of fear.

He's right about it being harder to get a job while unemployed. You finish your gap year and then spend another 6 months trying to get hired. Maybe if you lived in SF it'd be easier.

It was easier for me to get into Google when I had lots of free time for leetcode.

Re: “Great resignation” wave coming for companies

#450

Earlier quoted context omitted.

At this point, still not making six figures but it's Germany, I'd prefer a nicer office/work environment over more money. More space, more open-minded culture, fresh food for lunch (not even free but let's split cost)... Things like these would probably benefit me (and my colleagues) more than paying us another X hundred Euro.

> more open-minded culture Could you expand on this a bit? I've only worked in the U.S., so most of what I "know" about working in Germany is based on stereotypes. I'd love to hear your first-hand perspective.

Hm, maybe that's not specific to Germany, but in this company there are lots of people who think something like this:

- Totally not my problem, see how you figure it out for yourself

- We've never done it that way

- We've always done it this way

- Don't look left and right while doing your work

- I don't want to improve but I don't like where you are

- If you're not physically at work you can't be working at all

I think Germans sometimes have a specific sense of order and structure for work. Also succesful people, like in hard-working and making something out of themselves, are often belittled and in general nothing to look up to.

These cultural "problems" creep into workplaces, too. To paraphrase a bit more:

Work is a place you go to and leave after 8 hours. 8.5 hours precisely, because of 0.5 hours of lunch break. Don't stay longer, but NEVER leave 15 minutes earlier. You also don't hang out with colleagues for a beer or food, except for the colleagues from your pack. But you only meet those in your free time to talk about the other colleagures.

Also the other packs/departments are probably all idiots. "Online people" don't work at all, because I never see them on the phone, they just chill and surf the web probably. And they even work less now that they stayed at home because of Covid.

I've experienced all of this not only in my current but in other companies and I start to think it's a workplace-culture thing, where Germans don't realise that we're all in the same team but some people work just differently than others. This leads to a lot of envy, bad mood and stress, because I've always got the feeling that I need to fight. Fight for how I work, what I work on, how I communicate that to clients and so on.

So, I'd like my leaders up in the C-level to work on "relaxing the people", connecting the departments, thinking more about purpose and mission and vision and less about whether we can make 5% more profit this year.

I'd love if we would get something like a Skillshare/Udemy/LinkedIn learning membership for all of us and you get two hours a week to learn whatever you want, so everybody can become better.

I'd love if the company would support renting a bike, but "it's too complicated/too much work". I'd also love if I could get rid of most of the wall units here in our space and instead get a couch and some plants. Best we will get (learned that today) is that we can paint one wall in a color we'd like. We might even be allowed to paint that in our working time, but we'll see.

I don't expect middle to larger companies to be like a startup and everything is possible all the time and so on, but I think in Germany we need to see work more as a place where you are also allowed to have fun and enjoy the environment and learn and develop yourself and look next to the road and so on...

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