Lukewarm take incoming: These things are (kind of) spending money on labor.
congrats on living in a totalitarian hellhole. you are lucky if future sec of war candace owens doesnât invade you.
Donât think a lot of employees in the Sydney tech sector are complaining about salaries. It is all about other perks to get good people and also still very little turnover as RSU and ESPP are basically golden handcuffs. Latest thing is 30 days work from anywhere you have the right to work and the company has a presence.
No., that is a pretty hot take. The cold take is that they are capital investments to extract more value from labor
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Yeah, the super cool tech office with all the amenities is totally aligned with the rest of the tech world culture - it superficially sounds great but in practice it has severe detrimental impacts by tying people more closely to the office, reinforcing the insular nature of tech people vs. the âoutsideâ world, tugging more firmly on psychological factors to manipulate workers to feel that the company is their whole life (their purpose, their family, their work, their recreation, their social network, their tribe).
Tech companies (and other companies) are spinning in a place now where their stated aspirations about employee wellness are totally at odds with their baseline behaviors. Itâs just not consistent to try to lift employee wellness at the same time that you try to wring every penny of value out of the workers for shareholders.
Anyway, I hope that employees at companies that do create a âmore inviting officeâ by adding amenities find a way to use them effectively. There is no doubt that getting some exercise at the gym or playing a relaxing game with coworkers once in a while is a good thing. But someone needs to be out there educating workers about the slippery slope of spending all your time at work, with coworkers, and what that can do you oneâs mental wellness. I think the companies will go in the exact opposite direction, with employee attendance metrics being added to manager goals, etc., and the more you whip your folks to spend time at the âcompany townâ the better it is for the managers. Why arenât your employees engaged enough to eat all their meals at HQ? Tsk tsk.
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I was told this was about lazy freeloaders Gen X/Y/Z. Repeatedly. Turns out itâs the boomers. Itâs always the boomers.
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For people who canât be arsed to read the article:
Nearly 70% of the 5 million people who left the labor force during the pandemic are older than 55, according to researchers from Goldman Sachs, and many of them arenât looking to return.
Journalists everywhere:
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âPart of it is a job quality shortage,â says Sojourner. âItâs a bit of a puzzle why employers arenât raising wages and improving working conditions fast enough to draw people back in. They say they want to hire people â there are 11 million job openings â but theyâre not creating job openings that people want.â
To be sure, some companies have been raising wages to attract and retain staff. Some businesses also offer signing bonuses to get workers in the door. But economists arenât sure whether these incentives are here to stay and will improve conditions for workers in the long term.
âI can want a 65-inch TV for $50, but it doesnât mean thereâs a TV shortage, it means Iâm not willing to pay enough to get somebody to sell me a TV,â said Sojourner.
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Lol at you for thinking those people going through hell to get to our southern border want to work. They just want to do crimes, make anchor babies, and go on welfare. I sneer at your naivete.
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Not represented here: Democratic congresspeople and judges
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The mass retirement of boomers was always going to be a economic shock to the system, COVID just accelerated it. Weâve seen a shitload of retirements in the 55+ crowd at work the the last 2 years.
They are going to be in for a rude awakening when they hit nursing home age over the coming years.
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Their last two fuck yous will be 1. Literally ending democracy and 2. Draining their savings on end of life care so their heirs get nothing.
Well they sure arenât going to print that the market for workers is only going to get better as the population agrees and the birth rate declines
The number of boomers attaining retirement age is so monumental right now that you will see a shitload of retirements AND the actual impact of COVIC was to slow down the rates of retirement of people from the workforce. There is a tsunami of retiring boomers right now. The impact of COVID that I can see in the Canadian workforce data is a downward blip in 2020 and then a return 2021 to what things were already on a trajectory for in 2019. The data suggests that COVID didnât encourage more people to retire, there was already a huge bubble of people planning to retire and many of them decided to postpone retirement in 2020 because they werenât able to travel or see their grandkids anyway.
Little know fact - 10,000 Americans will turn 65 in 2021. Every day. 10,000 every day. The increase in retirements is a foreseeable demographic bubble, itâs not a by product of the pandemic.
Does this matter? Arenât most people working until 70 and beyond?
Retirement ages are drifting up but not that much. The majority of workers collect social security benefits before they are eligible for an unreduced pension.
Growth in labor force participation for people over 70 is high, but itâs starting from a low point. About 75% of people over 65 arenât in the workforce.
https://www.bls.gov/emp/tables/civilian-labor-force-participation-rate.htm
Saw somewhere the people that plan to work to 70+ is much higher than those that actually due to
1 health
2 job loss and inability to find a replacement job comparable to their old job
Both correct. Many people âplanâ to work past 70, but they really just hope to have an income after 70. Itâs not really a plan.
This is anecdotal but it feels like COVID actually sped up retirements for older people. At least in my office Iâm hearing the disruption to the work routine was enough to get older employees to call it a career. With how awesome work from home has been though I donât know why anyone wouldnât just keep working with how much easier this is. But it seems like itâs the weirdos that donât like it that are retiring.
As for my plans, 65 seems about right, with poker being my supplemental income after that. Iâm well on my way to being the nitty old man that plays one hand an orbit, drinks the free coffee, blames the dealer for bad beats, and then leaves crappy tips.
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