Culture over compensation: What tech workers want from their jobs now
Good morning! This Tuesday, LinkedIn has scoured its data for clues about what workers want more than a paycheck. I’m Allison Levitsky, and I’m not ashamed to admit that I lost Friday’s Wordle — but yesterday I got it in two tries!
Goodbye, hustle culture
LinkedIn released its 10th annual Global Talent Trends Report today, and it’s clear that for recruiters and hiring managers, there’s no going back to the “before times.” Sought-after workers want flexibility and company cultures that promote well-being, and employers are rewriting job descriptions accordingly. Here are a few highlights.
Job seekers are looking for more than a paycheck. LinkedIn found that job seekers prioritize work-life balance (63%) ahead of pay and benefits (60%) or culture and colleagues (40%).
- The words “flexibility,” “well-being” and “culture” all appeared in LinkedIn posts more often in 2021 than in 2019, and company posts that used those terms attracted more engagement than those that didn’t.
- “A lot of the things that employees look for, that people expected — that tech companies provided — have changed quite a bit in this new environment,” Jennifer Shappley, LinkedIn’s vice president of Global Talent Acquisition, told Protocol.
Younger employees prioritize flexibility. The word “flexibility” appeared in 83% more job listings in 2021 versus 2019, LinkedIn found. Company posts used the term 343% more over the same time period, and those posts attracted 35% more engagement.
- Particularly interested in company posts that mentioned flexibility were Gen Z (77%) and millennial (30%) users. Gen X and baby boomers actually showed less interest in posts mentioning flexibility: Gen X showed 5% less engagement on these posts and boomers showed 31% less.
- “More remote, more flexible work arrangements are here to stay,” Shappley said. “This isn’t something that was a moment-in-time adjustment.”
And women want a focus on well-being. Similarly, the word “well-being" appeared in 147% more job listings in 2021 than in 2019, and companies posted about well-being 73% more over the same period.
- Women in particular showed interest in company posts about well-being, engaging with them 41% more, LinkedIn found.
- “Women specifically juggle a lot,” Shappley said. “They are often managing career, family, multiple other hats outside the home, and the last couple of years have amplified that and really put them in the middle of trying to make all of this work.”
Improving company culture is the key to retention. Butwhere should you focus your efforts to build company culture? LinkedIn users surveyed in June had a few ideas.
- The most popular areas of focus were professional development opportunities (59%), flexible work support (48%) and mental health and wellness (42%).
- Thirty-five percent said they wanted to see more attention paid to “training managers to lead remote and hybrid teams.” Diversity and inclusion was a top priority to 26% of respondents.
- “Long-term success is dependent on your employees being healthy and having the time to think big,” Shappley said.
Flexibility and well-being are more than buzzwords: They’re clues that the culture of work has changed dramatically in the last two years.
Any guesses on what the 2024 report will bring? Let us know by replying to this newsletter or emailing us at firstname.lastname@example.org.
This story originally appeared on Protocol.com. Read it here.
A MESSAGE FROM HONEYWELL
Honeywell's Chief Commercial Officer Jeff Kimbell sits with Futurum's Daniel Newman to talk through the world's emerging trends in innovation, sustainability, tech and markets. Don't miss the insights into Honeywell's latest strategy for 2022!
People are talking
- "Of all the things I care about, it is below my line."
Patrice Louvet thinks Ralph Lauren can tap young shoppers through the metaverse:
- “One of our strategies is to win over a new generation, and the new generation is there. So we have to be there.”
Remote-first companies are finding talent everywhere, Spotify’s Lindsey Goring said:
- “It really has been a game-changer for us that we are able to unlock these talent markets.”
Coming this week
NRF 2022 started Sunday. The retail expo features speakers from IBM, Chewy and others.
Verizon and AT&T will launch their 5G service tomorrow. The rollout was delayed twice because of disputes with the FAA, and U.S. airlines are warning that the rollouts could cause "catastrophic disruption."
Meta is closing its speed-dating feature on Thursday. The company was testing the service, called Sparked, since April.
The White House’s COVID-19 testing site launches tomorrow. People can order up to four at-home tests per household.
For more on what’s happening in tech, check out our tech calendar.
In other news
Walmart is eyeing the metaverse. The company filed a few trademarks indicating plans to buy and sell virtual goods, and it’s exploring online retail services involving virtual merchandise.
Activision Blizzard has fired dozens of workers since the summer, sources told The Wall Street Journal. Several other employees have been disciplined, sources said, and the company has gathered hundreds of reports citing misconduct at the company.
Amazon won’t ban U.K.-issued Visa payments after all. The company said it’s working with Visa to resolve payments issues in the country.
Netflix prices went up. All plans are rising by $1 or $2 per month, which is meant to help the company fund new programming.
The FTC is looking into Meta’s Oculus purchase for possible antitrust violations. It’s part of a bigger probe into the company’s acquisitions; now, the commission is asking VR makers about how Meta's Oculus Store treats third-party app developers.
Apple's changing in-app payments in the Netherlands: Dating app developers there can now offer non-Apple payment options, following pressure from the Authority for Consumers and Markets. The watchdog is keeping an eye on the change.
The power of Wordle. Steven Cravotta built a game called Wordle! a few years ago, which is having its moment thanks to Josh Wardle’s Wordle. The two are teaming up to donate proceeds to charity.
Madhu Muthukumar and Roberta Thomson joined Notion as chief product officer and chief communications and creative officer, respectively. Muthukumar last worked at Robinhood, and Thomson joins from Meta.
New York’s hottest club is on the blockchain
Getting a dinner reservation in New York City is already a pain, but one new restaurant wants to make the process even worse: Only people who own a particular NFT will be allowed in.
Flyfish Club, a luxury seafood dining venue, will open in Manhattan during the first half of next year. But to get in, patrons must own a Flyfish NFT, which cost $13,600 on the secondary market as of last week. And the meal is not included.
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