Thread by @amytongwu

1/ There’s a lot of chatter on the #grandattrition, where companies are seeing unprecedented rates of employee turnover right now. You are not alone. A lot of drivers for this and thoughts on mitigation... @lightspeedvp

2/ 15mos of covid (and counting) have made people rethink what they want - life, priorities, values, where to live etc. Many have experienced financial hardships but some have amassed unprecedented savings that’s given them real optionality.

3/ Combined with most (tech) companies going hybrid work (for now) means people can apply to jobs anywhere while living anywhere. Plus mega rounds of financing = OPTIONALITY. Tech employees have unprecedented leverage right now.

4/ Some employees are #yolo quitting to start a bookstore. Others are working remote in Costa Rica while moving jobs with a 50% pay increase. It’s a tale of 2 worlds for companies and employees - haves and have-nots and a weird time for everyone.

5/ To address, first companies are talking about it and making sure they’re competitive in the current environment of benefits, hybrid work, and compensation. Not going hybrid? Unless you are the hottest tech company you will lose some people (and that may be totally fine).

6/ People are looking more than ever for fulfillment. What values do you stand for? Do your actions align with these values? What’s your external brand? How do you cut through the noise? At what cost? Age-old questions companies are asking themselves again.

7/ Some ideas - invest in in-house recruiting. Overpay for top talent, not all talent. Reinvest some covid savings in unexpected benefits. Invest in physical space to do events for those craving it. Host gaming parties to bring people together remote (no social zooms).

8/ Ultimately the people who want to stay will stay and for those who don’t, it always pays to be gracious on the way out for both sides. The #boomerang is real.