October 13, 2022
Illustration: lerbank/iStock/Getty Images Plus
Welcome back to our Workplace newsletter. Today, compensation experts say most startups aren’t ready for the new pay transparency laws going into effect in the coming months, because most haven’t even set up internal pay bands. Plus, tech CHROs have their own least favorite parts of performance reviews — and one says why she doesn’t do them at all.
— Allison Levitsky, reporter (email | twitter)
Most startups aren’t ready for the pay transparency laws going into effect in the coming months, according to compensation experts. The first step for many will be setting up internal pay bands — a task that isn’t at the top of most startup leaders’ to-do lists.
A big part of standardizing pay: employee communication. Heather Sullivan, who took over as Astranis Space Technologies’ first permanent chief people officer in July, is only now setting up pay ranges at the company, which has around 270 employees.
Standardizing pay as early as possible can help companies know how they measure up to competitors and prevent pay inequity from forming, Knopp said. Pay disparities result from inconsistent practices.
For most people leaders, some part of the performance review process needs improvement. For Protocol’s latest Braintrust, research editor Kevin McAllister asked HR heads from companies such as ServiceNow, HubSpot, and Qualtrics about their least favorite parts of the performance review process.
What he learned: Reviews shouldn’t contain surprises, the “how” of performance can be as important as the “what,” and why one fintech people leader hasn’t used performance reviews at any company she’s worked at since 2009.
Many business leaders aren’t sure where to begin when it comes to migrating to the cloud. To help organizations adapt to this revolution, Capital One launched Capital One Software, a new enterprise B2B software business focused on providing cloud and data management solutions.
Job-hopping isn’t just for junior employees. According to LinkedIn data, rates of leaving jobs within a year are rising fastest among VPs, directors, and managers.
Two possible explanations for the changes, according to LinkedIn: “unusually ragged” remote hiring processes in 2021 that meant candidates had less of an in-person feel for new roles before accepting them, and high stress levels among leaders and managers.
Managers find themselves “squeezed between the demands of top executives wanting to drive change in a hurry — and the family stresses or mental-wellbeing challenges that burden their subordinates every day,” LinkedIn editor George Anders writes.
Anyone else having a bad case of Great Resignation whiplash? It’s hard to keep up with which tech companies are growing, shrinking, floating, or sinking. We’re here to help.
⬇️ Salesforce is freezing hiring through January and has ended contracts with some temporary recruiters, Protocol learned Wednesday.
⬇️ Thousands of job cuts are coming to Intel and may be announced this month, according to Bloomberg.
⬇️ Noom has let go of around 500 workers — mostly coaches — in a layoff affecting 10% of the company, TechCrunch reported.
⬇️ Brex laid off 11% of its workforce, affecting 136 employees, as the corporate spending management company restructures.
For more news on hiring, firing, and rewiring, see our tech company tracker.
A roundup of workplace news from the farthest corners of the internet.
The labor shortage is driving employers to hang on to workers, which could help stave off a recession. (The New York Times)
Workers at an Amazon warehouse in Southern California just filed a petition to unionize. (CNBC)
Attrition has risen at Twitter as Elon Musk moves closer to buying the company. (Financial Times)
The flexibility of the cloud helps companies like Capital One unlock access to their data with performance that can scale instantly. But this flexibility and scale can also create a unique challenge for organizations and users who are not proficient in cloud optimization.
Thoughts, questions, tips? Send them to firstname.lastname@example.org.