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“Great resignation” wave coming for companies

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Re: “Great resignation” wave coming for companies

#791

Post by standardUser »

nightski wrote: post #782
onethought wrote: post #718

Earlier quoted context omitted.

Actually on gdp alone there is enough money in the US for everyone to have a living wage… checkout northern euros or Australia for example of what that looks like. The problem with the fed stimulus was the benefits too large corps.

That is too simplistic view of the economy. You can't allocate all revenue to payroll. That's not how business or the economy works.

But it is fair to say that economies that look remarkably like our own are able to support higher wages with no catastrophic downsides. The same argument goes for universal healthcare, family and sick leave, etc.

Re: “Great resignation” wave coming for companies

#792

Post by morelisp »

dmoy wrote: post #585
rubicon33 wrote: post #504

Earlier quoted context omitted.

And yet, they still persist on presenting leetcode riddles that have very little relevance to the job being interviewed for. If they were hurting that much for devs, you'd think they might lower the bar a little by not requiring a years study of leetcode.

The riddle-like questions are trash, I agree. Any question that requires you to already know a slightly more arcane data structure or algorithm, or involves just regurgitating some algorithmic trick, or similar, really just gives you signal of "did this person already know the question beforehand?", and nothing else. Not asking those types of questions, and instead asking a more straightforward programming question w…

If your "couple hours" take-home test has a significant difference in results between 4 and 40 hours of work, you probably made a bad test.

Re: “Great resignation” wave coming for companies

#793

Post by maybelsyrup »

nightski wrote: post #782
onethought wrote: post #718

Earlier quoted context omitted.

Actually on gdp alone there is enough money in the US for everyone to have a living wage… checkout northern euros or Australia for example of what that looks like. The problem with the fed stimulus was the benefits too large corps.

That is too simplistic view of the economy. You can't allocate all revenue to payroll. That's not how business or the economy works.

> That is too simplistic view of the economy. You can't allocate all revenue to payroll.

You may be right about this. In fact I'd wager that you are. But the problem isn't that part of what you said; it's this:

> That's not how business or the economy works.

You're probably right about this too! The problem is that, in these conversations, we usually just stop here. Whereas more and more, I'm finding myself asking "can we citizens find ways for business or the economy to work in some other way, even just a little bit? Are we willing to just creatively try and answer some of this stuff?"

I think, if you just stop at "that's not how ___ works" without pushing things further, well, it feels like rolling over. The way "business and the economy worked" in the American South as recently as the 60's was that, if you had a certain skin color, you were relegated to a shitty part of, say, the restaurant, or you were prohibited from participating in the economy in any meaningful sense at all. But then some people asked "is there a way for things to work differently?" It's far from sunshine and gumdrops 55 years later but you can't be chucked out of a lunch counter for being black anymore.

Re: “Great resignation” wave coming for companies

#794

Post by mathattack »

screye wrote: 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…

To your point, stated desire (filling out a survey) isn’t as strong as revealed preference (people switching).

Stated preference is much noisier.

My observation is there are a lot of people who have learned to hate their boss while remote. My SF friends may be surprised that wages are resetting to Chicago and Texas levels for new workers. That may slow down some of the movement.

Re: “Great resignation” wave coming for companies

#795

Post by astrange »

RC_ITR wrote: post #774
nonotreally6 wrote: post #709

Earlier quoted context omitted.

You mean the Fed printed a ton of money and sent it to everyone making less than a certain amount, and the government guaranteed wages for those who no longer wish to work, and caused a labor shortage and inflation. Soon those benefits will be insufficient, due to inflation, if the government continues to print money, and the real wages of the existing wage earners who actually produce value for the good of society b…

>caused a labor shortage and inflation. The US Government printing money is why used cars, washing machines, and hotels are getting more expensive, while other categories stay generally below historical levels?

The only reason people think "inflation" is bad is that it was bad one time in the 70s, except that was actually stagflation, and the cause was running out of a resource (oil) and not because the wage/price increases didn't match up. I guess some people might think Weimar hyperinflation lead to the Nazis, but it didn't really.

Re: “Great resignation” wave coming for companies

#796

Post by theonlybutlet »

nightski wrote: post #782
onethought wrote: post #718

Earlier quoted context omitted.

Actually on gdp alone there is enough money in the US for everyone to have a living wage… checkout northern euros or Australia for example of what that looks like. The problem with the fed stimulus was the benefits too large corps.

That is too simplistic view of the economy. You can't allocate all revenue to payroll. That's not how business or the economy works.

It's a good approximation, inequality is what is skewing it in the US.

Re: “Great resignation” wave coming for companies

#797

Post by jc_811 »

njovin wrote: post #758
jc_811 wrote: post #582

I feel like I keep seeing articles on this topic, but nobody is addressing the (obvious) elephant in the room: If there is a great resignation, and people are quitting jobs they are not happy with - how are they going to pay their bills and way through life? Am I missing something? It seems these articles all talk about workers realizing they are underpaid, overworked, and after a year don't want to go back to the sa…

They're not going to be unemployed, they're going to find a better job. In my mostly-uninformed opinion I think that remote work has allowed a lot of people to search for work in other locations and this has radically changed the way the employer-employee economy works. In smaller job markets talented workers didn't have much choice about where to work and there were factors to changing jobs (like commute distance) t…

So in this case, instead of a "great resignation" it would be more accurate imply a "great company switching". However, doesn't this scenario assume that there are an abundant supply of "better" jobs just waiting for applicants (that are now able to apply due to remote policies)?

There obviously isn't that yet, so is the assumption that this will follow after many employees resign and force companies to redo their hiring policies?

Re: “Great resignation” wave coming for companies

#798

Post by geekster777 »

foobiekr wrote: post #636
geekster777 wrote: post #609

Earlier quoted context omitted.

You do have the option of going back to work if shit hits the fan. Maybe it'll be harder to find a job, or to find one that pays as well as before, but that's pretty heavily tempered by the fat nest egg you have. It's a pretty big misconception that by "retiring" you're permanently cutting off all abilities to produce income ever again. It's easy to see "oh if a wealth tax is introduced, you'll run out of money by 50…

As browsing any discussion on recruiting and interviewing with illustrate, hiring is already fucked up, and adding age plus a multi year gap would make getting a new job quite hard, let alone one that matches the compensation one has today.

Sure, landing the same tech job may not be feasible. As I mentioned, the big nest egg should ease that blow. You can instead get a lower paying tech job you're plenty qualified for. You can also get a job doing something unrelated to tech, like Uber/gig work, secretary, waiter, creating on Etsy, or really anything. A disruption to early retirement isn't going to be so dramatic that you need to get your same 6 figure income as before in order to stay afloat. It's something where an extra $15k a year coupled with some cost cutting will get you through a recession with minimal damages (cost of living dependent of course, but I'm assuming a conservative ~$60k/yr expenses). Landing something more lucrative creates a noticeable surplus.

Re: “Great resignation” wave coming for companies

#799

Post by nightski »

standardUser wrote: post #791
nightski wrote: post #782

Earlier quoted context omitted.

That is too simplistic view of the economy. You can't allocate all revenue to payroll. That's not how business or the economy works.

But it is fair to say that economies that look remarkably like our own are able to support higher wages with no catastrophic downsides. The same argument goes for universal healthcare, family and sick leave, etc.

No I don't think that is fair at all and I feel that you need a source that dives deep into the details because it is far more complicated than X country's wages > U.S. wages.

Re: “Great resignation” wave coming for companies

#800

Post by psychomugs »

notjustanymike wrote: post #173
dreen wrote: post #7

Im quitting and not looking for another job. Gonna use the savings to take a gap year, or a couple, work on some stuff I want maybe. Maybe more involvement in OSS is coming too? I've never had a gap year, it was all school, then immigration, work, university, more work. Any holiday time you fly back home. I kept hearing its not unusual for people in the west to take gap years, so thats what Im doing. edit: thank you…

A 6 month gap was the healthiest emotional choice I ever made. Just be prepared that you have no idea how you'll react to it until you do it. I strongly recommend setting very light goals for the first month while you adjust, otherwise you'll stress yourself out. For me, I went with "Take one great photo a day."

I've done two 366 photo-a-day projects (the first was in 2012, the second was 2020). Last year was simultaneously the worst and best time to do one; worst because of obvious reasons, but best because it was a quarantine monotony barometer ("monotometer") and helped me plan my days so that at least one interesting photographable thing would happen. I definitely felt burnout and oversharing, but I'd probably do it again and just keep the photos in a private album or print them immediately.
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