5 ms·

Unable to read the article due to paywall but how can employees be quitting in such numbers to be noted by Bloomberg? Don't they have families to feed, finances

Unable to read the article due to paywall but how can employees be quitting in such numbers to be noted by Bloomberg? Don't they have families to feed, finances to take care of, worries of future, worries of career and such? How exactly are so many people managing to just quit their jobs?

pydry 5y ago
Nobody was spending much money last year.
- humanrebar 5y ago
  Except for all that housing.
a4isms 5y ago
Quit != leave the workforce. Maybe they now have remote work options, or having tasted a year without a brutal commute, they take jobs paying less, but closer to their homes.
cheschire 5y ago
The article mentions somewhere in the middle: "A May survey of 1,000 U.S. adults showed that 39% would consider quitting if their employers weren’t flexible about remote work." And towards the end it references a tweet that went semi-viral and got a lot of responses. https://twitter.com/GenieShinobi/status/1389286585347235847 https://twitter.com/GenieShinobi/status/1389286585347235847 edit: also here's a non-paywall link. https://archive.is/Yc5UW https://archive.is/Yc5UW
- yoz-y 5y ago
  Indeed, the article contains nothing to support the claim in the title.
FearlessNebula 5y ago
People have savings. It’s not worth making your life miserable over the safety net of your current job, especially when there’s so many remote options out there.
- NoGravitas 5y ago
  Most people don't: https://www.fool.com/the-ascent/research/average-savings-account-balance/ https://www.fool.com/the-ascent/research/average-savings-acc...
wepple 5y ago
It’s a weakly supported clickbait article. A may survey of 1000 people reported that 39% would consider quitting if their work didn’t provide flexibility. I’m no statistician but the red flags are n=1000 and “would consider”. This is a hugely hit button issue right now, great for clicks.
- elzbardico 5y ago
  Right now for software engineers, quitting is not that complicated. Easy to find another offer. Heck, recruiters can't leave us alone a single day.
- aninteger 5y ago
  Clickbait yes, but it's more than that. It's a momentum/filler piece. NPR's Marketplace ran a short segment on this last week (although I can't find the link), now Bloomberg, coming up MSNBC and CNN(?).
- wgerard 5y ago
  > red flags are n=1000 It's been awhile since I've taken stats, but people semi-frequently overestimate the necessary sample size needed for even a 99% confidence level. Depends on the standard deviation for sure, but some quick napkin math suggests that a sample size of ~700 people is more than enough to draw inferences about the entire western hemisphere at a 99% confidence level.
- dredmorbius 5y ago
  For a single question survey, 1,000 is a more than sufficiently large survey. Standards are typically for 300+ given random sampling. Reasons for enlarging samples have less to do with accuracy than with resolution. If you plan on looking at specific cross-tabulations or sub-populations, you need a sufficient sample size (typically n>30 for large-sample statistics) to draw inferences. Error decreases with the square root of sample size. To halve error you must square the sample. A 1,000-element sample has half the error of a 31-element sample. To halve error again would require a 1,000,000 element sample. "Would consider" is a fair catch, though here the question is how that compares against previous measures / trend.
rcstank 5y ago
No debt but a residence mixed with a 3-6 month emergency fund gives a lot of freedom. I know that’s not that case for many, but the emergency fund is my safety net and if I need, that’s how I would manage to do it. I’d also try to line up a job prior to my departure.
loonster 5y ago
https://archive.is/Yc5UW https://archive.is/Yc5UW Archiving is a way around many paywalls. The article itself was short on substance. A bunch of anecdotes without any hard numbers of the amount that are quitting.
Aissen 5y ago
They pass interviews and accept full remote jobs. I've seen it happen. Some people moved to smaller cities at the start of the pandemic, so they have literally zero incentive to come back; they are even taking pay cuts if needed.
dredmorbius 5y ago
The subtext to the work-from-home trend is commercial real estate, both office and retail, which is an immense investment asset class. I've seen very little dismissal of the trend that cannot be traced to commercial real estate, banking, or investment interests. Interestingly enough, all sectors which can themselves utilise remote office or work-from-home arrangements. Bloomberg are first and foremost an investment information service.
jbb67 5y ago
I quit my job at least partly because of this. I made sure I had a new job lined up first of course...

pydry 5y ago

Nobody was spending much money last year.

humanrebar 5y ago
Except for all that housing.

a4isms 5y ago

Quit != leave the workforce. Maybe they now have remote work options, or having tasted a year without a brutal commute, they take jobs paying less, but closer to their homes.

cheschire 5y ago

The article mentions somewhere in the middle: "A May survey of 1,000 U.S. adults showed that 39% would consider quitting if their employers weren’t flexible about remote work." And towards the end it references a tweet that went semi-viral and got a lot of responses. https://twitter.com/GenieShinobi/status/1389286585347235847 https://twitter.com/GenieShinobi/status/1389286585347235847 edit: also here's a non-paywall link. https://archive.is/Yc5UW https://archive.is/Yc5UW

yoz-y 5y ago
Indeed, the article contains nothing to support the claim in the title.

FearlessNebula 5y ago

People have savings. It’s not worth making your life miserable over the safety net of your current job, especially when there’s so many remote options out there.

NoGravitas 5y ago
Most people don't: https://www.fool.com/the-ascent/research/average-savings-account-balance/ https://www.fool.com/the-ascent/research/average-savings-acc...

wepple 5y ago

It’s a weakly supported clickbait article. A may survey of 1000 people reported that 39% would consider quitting if their work didn’t provide flexibility. I’m no statistician but the red flags are n=1000 and “would consider”. This is a hugely hit button issue right now, great for clicks.

elzbardico 5y ago
Right now for software engineers, quitting is not that complicated. Easy to find another offer. Heck, recruiters can't leave us alone a single day.
aninteger 5y ago
Clickbait yes, but it's more than that. It's a momentum/filler piece. NPR's Marketplace ran a short segment on this last week (although I can't find the link), now Bloomberg, coming up MSNBC and CNN(?).
wgerard 5y ago
> red flags are n=1000 It's been awhile since I've taken stats, but people semi-frequently overestimate the necessary sample size needed for even a 99% confidence level. Depends on the standard deviation for sure, but some quick napkin math suggests that a sample size of ~700 people is more than enough to draw inferences about the entire western hemisphere at a 99% confidence level.
dredmorbius 5y ago
For a single question survey, 1,000 is a more than sufficiently large survey. Standards are typically for 300+ given random sampling. Reasons for enlarging samples have less to do with accuracy than with resolution. If you plan on looking at specific cross-tabulations or sub-populations, you need a sufficient sample size (typically n>30 for large-sample statistics) to draw inferences. Error decreases with the square root of sample size. To halve error you must square the sample. A 1,000-element sample has half the error of a 31-element sample. To halve error again would require a 1,000,000 element sample. "Would consider" is a fair catch, though here the question is how that compares against previous measures / trend.

rcstank 5y ago

No debt but a residence mixed with a 3-6 month emergency fund gives a lot of freedom. I know that’s not that case for many, but the emergency fund is my safety net and if I need, that’s how I would manage to do it. I’d also try to line up a job prior to my departure.

loonster 5y ago

https://archive.is/Yc5UW https://archive.is/Yc5UW Archiving is a way around many paywalls. The article itself was short on substance. A bunch of anecdotes without any hard numbers of the amount that are quitting.

Aissen 5y ago

They pass interviews and accept full remote jobs. I've seen it happen. Some people moved to smaller cities at the start of the pandemic, so they have literally zero incentive to come back; they are even taking pay cuts if needed.

dredmorbius 5y ago

The subtext to the work-from-home trend is commercial real estate, both office and retail, which is an immense investment asset class. I've seen very little dismissal of the trend that cannot be traced to commercial real estate, banking, or investment interests. Interestingly enough, all sectors which can themselves utilise remote office or work-from-home arrangements. Bloomberg are first and foremost an investment information service.

jbb67 5y ago

I quit my job at least partly because of this. I made sure I had a new job lined up first of course...