Meta is bolstering perks like happy hours and company swag as it pushes staff to return to office, despite its ‘year of efficiency’::The company has revived a number of employee perks, according to Bloomberg, including branded t-shirts, laundry services, and free haircuts.
Why not simply increase basic pay? The younglings no longer want these “”“”“”“”“”“”““perks””“”“”“”“”“”" because they know it comes with many caveats.
They have increased the pay, that’s how they attract talent. I know some people from school who went on to work FAANG jobs and they make 3x the median for our industry where we’re all from. Sure we all deserve more money, but it’s not like it isn’t a desirable place to work for most people in the industry.
They can’t. Workers at Meta were paid well and then they got to work from home. There isn’t any amount of money that will make those workers want to give up their new work life balance. Perks is the only option.
Google had it right back in the day. Free shuttle rides to work. Onsite massages, dry cleaning, free cafeterias, etc. if you make it so people don’t have to do those things when they get home, they will work longer. It still doesn’t compare to wfh but it was close.
Then Meta won’t be a billion $ company. There’s a reason workers are paid less, let’s say a janitor gets paid $8/hour and the CEO gets paid $10000/hour.
If you start paying a janitor $10000/hour , tomorrow the janitor may ask the CEO to clean toilets as they both are getting paid equally or won’t show up to work as the janitor has too much money to keep cleaning toilets. That’s why we have hierarchy and front line workers needs to be at the bottom of this. Welcome to Capitalism !
Interesting how there is no middle ground between $8 an hour and $10000 an hour. What do you think of $20 an hour? That is still 500 times less than a ceo pay so the ceo doesn’t need to clean toilets any time soon.
The janitor works for $8/hour out of desperation. The CEO works for $10k/hr out of greed. The difference in pay rates based on position should be regulated. I think a CEO should only be paid at most 10 times more than the lowest paid job in any organization. That way everyone will have some parity and a shot at a decent life even at the low end.
I understand where youre coming from but in real world that’s not how it works. Look around , ask around.
The world looked a lot different 100 years ago. People fought and died to bring about changes in labor. It worked and we take it all for granted now.
I don’t hear people arguing for everyone to be paid the top salary of the CEO. Maybe let’s start with, I dunno, 20 dollars an hour minimum.
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No. $25 minimum. And a tax rate under 10%.
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Thanks mate :)
Kinda reminds me of a guy I used to hang out with. He had found out that the US shreds old currency, and was utterly appalled. “They could just give that to people!”
“OK, Mike, the government could easily give every American $1,000,000, tomorrow. You want that?”
“Hell ya!”
“OK, you know I mow lawns for a living, $30 a pop? (early 90s!)”
“Yeah.”
“Now pretend you have a lawn you want mowed. Fuck I want $30 for? I have a million! I’m going to need $10,000 to even think about it.”
The whole idea baffled him, never got it.
But yeah, where we’re at now is fucked up. I get that CEO pay is determined by the market. I get that dropping CEO pay won’t make a dent in line worker pay. But still, the wealth disparity is heinous.
And the worse it gets, the more influence the rich can buy and the less the rest of us have.
CEO pay is absolutely NOT determined by “the market”.
On the flip side, this is a great way to illustrate the coercive nature of capitalism. Most jobs wouldn’t exist if mindless productivity wasn’t a prerequisite to feed your family