Issue link: https://read.uberflip.com/i/1468039
January 2022 4 • Work From Home (WFH) policies can make talent leave or stay. When tech talent isn't satisfied with new/changing WFH policies, 66% report wanting to leave compared to just 6% of employees who are satisfied with WFH programs. • Attitudes toward fully remote vary by age so flexibility is key. 94% of 18-34 year-old tech workers find a hybrid workplace desirable, recognizing the need for "in person" time to receive mentoring and build relationships with senior leaders. In contrast, roughly a fifth of techies aged 55+ want to work remotely just one day per week. A "one size fits all" solution is unlikely, so attracting top talent requires a customized mix of remote, hybrid and in-office options. • Work from anywhere also means recruit from anywhere. The upside: a bigger talent pool. The downside: More competition from Big Tech located on the West Coast . 43% of West Coast tech firms' job postings were outside of the West Coast in 2021, up from ~30% in 2019. Austin, Denver, and Nashville have seen some of the largest increases in Big Tech postings. • Tech companies shifting to "geo-neutral" compensation. Initially used by start-ups competing for tech talent against Silicon Valley, now even the FAANGs are moving away from strict, tiered compensation. Airbnb recently announced permanent work-from-anywhere and the elimination of location-based pay. Rapidly-rising housing costs in smaller cities where tech talent migrated during the pandemic will likely add fuel to this trend. • Underrepresented groups are wary of tech; DEI culture matters. 57% of Black tech talent perceives racial discrimination occurring in the tech industry followed by 35% of Hispanic/Latino(a)s. Nearly six in ten tech workers who identify as women believe gender inequality occurs in the tech industry on a frequent or very frequent basis. A firm's reputation for DEI factors into underrepresented groups' decisions about where they want to work so companies must take steps toward greater pay transparency, building mentor/affinity programs, and expanding benefit/wellness offerings to alternate families. IT Labor Market Snapshot – Talent Trends