June 14, 2022
Photo: Marc Mueller/Pexels
Welcome back to our Workplace newsletter. I’ve just returned from a weeklong hiking and camping trip during which I completely disconnected, including from Twitter. I logged back on this morning to an alarming number of notifications and did a quick scroll to see what I missed (in short: not much, although the news of a potentially sentient AI at Google was equal parts alarming and fascinating). What I concluded after extended time offline? The benefits are as they say: It wards off burnout, gives you time and energy to recharge your creativity and inspiration and leaves you ready to contribute your best when you’re back. Managers: Respect your employees’ boundaries when they’re gone so that they can do their best work when they return (and be sure to log off completely when you take vacation too; that’ll set the kind of culture that promotes retention and satisfaction).
Today: why the competition for talent is still fierce despite the bear market (and what to do about it), the rise of the chief product officer, and new insights into executive compensation.
— Michelle Ma, reporter (email | twitter)
ZipRecruiter just released an inaugural report on the job market outlook for new grads, and the results are in: Class of 2022 has no need to fret. Despite the scary headlines around layoffs, hiring freezes and slowdowns, the outlook is still rosy for those entering the tech job market this summer.
I sat down with the company’s chief economist, Julia Pollak, to discuss the results of the report, what tech companies can do to attract and retain new grads, and what ZipRecruiter’s data shows us about the tech talent market right now.
Here’s what first-time job seekers are looking for:
Things are not as bad as they seem.
In short, talent competition is still fierce, and as a result, companies are offering new benefits that have completely blown Pollak away: benefits that typically aren’t being offered for new grads in their very first job.
Could chief product officer be a path to the CEO seat? Perhaps now, yes, according to new reporting from my colleague Aisha Counts. At Amplitude’s annual conference in Las Vegas last month, the chief product officers of Box, Kumu, Okta and Wish spoke with her about how the role of the CPO has changed. It wasn’t always an executive position, but now it’s clearly part of the C-suite. The job also includes so many more functions now, including “driving the revenue, driving customer growth, ensuring that support can actually support your product [and] ensuring that marketing understands how to position it,” according to Okta’s Diya Jolly.
Full-stack observability with business context enables companies to digest IT performance to easily identify where they can prioritize performance and tackle issues that strategically impact their bottom line. This correlation of technology and business data allows IT leaders to make smarter, strategic decisions based on actual business impact.
Here’s a Twitter thread with some fun productivity tips from writer Alex Mathers. My favorites are laugh therapy, choosing ONE thing and six slow breaths.— Lizzy Lawrence, reporter (email| twitter)
Aren’t you curious? According to a new report from Pavilion, a private membership group for “high-growth professionals,” median compensation of executives globally rose by more than 8.5% in 2021, another side effect of the talent shortage.
In a first-of-its-kind agreement, Microsoft has to stay neutral on unions, according to a binding legal commitment between the company and the Communications Workers of America.
Updated: All the latest on hiring slowdowns, freezes and layoffs in the tech industry.
Crypto lending company BlockFi is laying off 20% of its staff, responding to “a dramatic shift in macroeconomic conditions worldwide.”
Low- and no-code tools are still waiting for their breakout moment. They’ve raised the funding, but their real value is still unclear.
Organizations that have already started the move to a full-stack observability approach are seeing results and clear return on investment (ROI). In the AppDynamics research, 86% of technologists reported greater visibility across their IT stack over the last 12 months when implementing full-stack.
A roundup of workplace news from the farthest corners of the internet.
Interested in having a bunch of random people tell you how bad your resume is? Blind can help.
Gen Z employees are feeling disconnected. Here are four commitments your company can make to support this “increasingly vulnerable generation.” Alternatively, your company could just be Spotify, because according to a survey, that’s where Gen Z wants to work.
Companies are already responding to the draft Supreme Court ruling overturning Roe v. Wade. Here’s how the battle over abortion will affect your workplace.
Is workplace loyalty gone for good? Research from Wharton professors suggests: perhaps.
Thoughts, questions, tips? Send them to firstname.lastname@example.org. Have a great day, see you Thursday.