5 Things / Trade-Offs
This week I was reminded that every story is nuanced – sometimes, I miss the [whole/complete] picture when researching the stories. In the last 5 Things, I shared how Shopify’s CEO was humble and kind in handling layoffs. A reader so smartly responded:
While they lost their jobs due to his mistake he still made over $20 million and cashed out more than $623 million in equity last year. To me, this raises huge questions about internal equity, executive compensation, and holding decision-makers accountable for their decisions. Instead, once again, we will likely see huge numbers of lower-wage, junior, and shared service (where most diversity exists in US companies) employees paying the price.
Yes, yes, yes, and yes. Perfectly put.
And yet, in addition to some layoffs, I’m also seeing salary bumps and bonuses announced across industries as a potential antidote to still-high resignation numbers. Does that count as a good vibe?
Ultimately, there are so many gray areas, and there are always trade-offs. I’m hopeful we will mostly see leaders choose the path that causes the least harm. I’m reminded of what my friend Jess Pettitt says, “Do the best you can with what you have some of the time."
Another reader had a question about Disney’s Fairy Godmothers from last week… we inadvertently left off an apostrophe, causing the story about going gender-free to make no sense. Sorry for the confusion! To summarize Fairy Godmothers in Training --> Fairy Godmother’s Apprentices.
Here are the good vibes I found this week:
How the World’s Biggest Four-Day Workweek Trial Run Changed People’s Lives in the UK
For the past eight weeks, the UK has been the site of the world’s largest 4 Day Workweek trial. This U.K. trial lasts six months and spans 3,500 employees across 70 countries. In the model, employees work 4 days and are paid for 5. Past experiments have shown 4 Day Workweeks lead to an increase in productivity. So far, so great, once folks get the hang of how to adjust their workflows.
Spotify Allowed Its Employees to Work From Anywhere in the World and Its Turnover Rate Dropped
Positive results have come from Spotify’s Work from Anywhere policy. Attrition has decreased by 15% from pre-pandemic levels. Black and Latine’ employee numbers have gone up significantly, as has the percentage of women in leadership. These stories matter because these are companies setting a precedent for the future of work. Gen Z and traditionally underrepresented folks strongly value flexibility in their workplaces.
Gen Z Knows What It Wants From Employers And Employers Want Them
I’ll have to find myself at a Blank Street Coffee sometime soon. The chain of 40 coffee shops in the United States and England makes career growth part of its recruitment pitch. A Brooklyn shop barista super into coding now works in customer service and on the shop's app. The same shop helped another employee fulfill a dream of being on a T.V. show. I love stories like this because front-line employees are far likelier to be BIPOC and often lack a lot of privilege and access to opportunities.
U.S. Companies Support Harvard, UNC in Supreme Court Affirmative Action Cases
Apple, General Electric, Google, and Starbucks are a few of the companies which signed an amicus brief before the U.S. Supreme Court in favor of affirmative action. The Court will rule on several college admissions cases in the coming term. This matters because, as the companies put it, "Racial and ethnic diversity enhance business performance. Research and experience demonstrate that racial diversity improves decision-making by increasing creativity, communication, and accuracy within teams."
Microsoft Has Taken a Proactive Approach to Accessible Technology and Disability Hiring
Microsoft is one of my favorite companies to follow; they have - for years - shown strong leadership in creating an accessible environment. Every employee, with or without a disability, attends accessibility training on benefits and accommodations as part of onboarding. Microsoft also has 22 disability communities and even has hackathons led by these communities. As a result, the rate of employees with disabilities is nearly double the national average. This matters because the company is showing employees (and prospective employees) from the outset that they matter and will be cared for.
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