Pay, perks, and remote work: The new landscape for tech jobs and compensation
GeekWire
GeekWire
4.4 • 116 Ratings
🗓️ 4 March 2023
⏱️ 33 minutes
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Summary
The workplace and the job market are a volatile mix of variables these days, including the economy, tech layoffs, inflation, pay transparency, remote work, and a push by some companies to bring employees back to the office. So how are all of these changes impacting pay and perks? Our guest this week is Lexi Clarke, chief people officer at Payscale, the Seattle-based compensation software and data company, which just came out with its 2023 Compensation Best Practices Report.
With GeekWire co-founder Todd Bishop; edited and produced by Curt Milton; Theme music by Daniel L.K. Caldwell.
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Transcript
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| 0:00.0 | And so our degree of transparency was not just here's kind of your straight compensation range and here's what it requires. It was down to here's what it means to make a compensation decision and we want to open up that for discussion and dialogue so that everybody feels equally |
| 0:14.6 | educated going into those compensation conversations. |
| 0:18.0 | Yeah, I can only imagine you might have somebody saying, well here's what |
| 0:20.8 | chat GPT says I should be making. |
| 0:23.0 | I have an alternative data set for you. |
| 0:25.6 | We haven't had an oven quite yet. |
| 0:27.0 | We haven't had an oven quite yet. Not yet. Not yet. Welcome to GeekWire, from GeekWire.com in Seattle. I'm Todd Bishop. |
| 0:38.8 | I'm pleased to be joined on the show this week by Lexi Clark, the Chief People |
| 0:42.6 | People Officer at PayScale, the Compensation Software and Data Company that's |
| 0:46.8 | based here in the Seattle region, which just came out with its 2023 |
| 0:51.8 | Compensation Best Practices Report. with its 2023 compensation best practices report. Lexi it's great to have you here. |
| 0:56.7 | Hey Todd nice to be here. So this is such a fascinating area in general already when you talk about what people make. |
| 1:05.2 | Everybody cares about these numbers, but especially in the tech industry over the past six months or so. |
| 1:11.9 | It's just gotten intriguing and a little bit messy. And so I just |
| 1:16.4 | wanted to start with a big picture view with you. When you look at layoffs and |
| 1:20.8 | the uncertain economy and compensation in particular, how has the balance of power shifted |
| 1:26.8 | between employers and employees in the past few months? |
| 1:30.1 | And if you could start with the tech industry, I think that would be probably most interesting to our audience. |
| 1:34.4 | Yeah, absolutely in a great place I think for us to start just at that high level. |
| 1:38.6 | I think a few things I would just kind of call out thematically, the economy is uncertain, but we're also on the other side of this great resignation. |
| 1:46.4 | So we're seeing that voluntary turnover is starting to drop, which gives us kind of an indication that employees are worried about making that job change within that current economic uncertainty. |
| 1:56.6 | I think especially in-tech voluntary turnover has dropped the most and it's dropped by about 15% as you look at the report and so you're hovering |
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