The co-founder of LendInvest and chair of the industry group Fintech Founders was responding to data showing a 75 per cent rise in employees exiting traditional banks and joining startups since the start of the pandemic.
Which is why Musk telling staff to come into the office or “not work elsewhere” is mad and ignorant. Twitter has highly flexible policies, for example, because otherwise its workforce would just down tools and leave.
There’s the issue of having to relocate for work as well. Young professionals early in their careers used to schlepp around from city to city in crap rented accommodation shelling out a big chunk of salary for a bed with no roots, no friends. Then it turns out during the pandemic they could just bunker down with family and still get the work done, no petrol costs, no crappy flats… It’s very difficult to convince people to go back to an utterly terrible way of life, particularly when they know for a fact it is not necessary or productive.
My brother in law now hates going into the office because he can’t get as much done!
It’s now than “workplace atmosphere”, it’s a whole different approach to business and recruitment
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Should note that Twitter has failed to make anything good while Musk has managed it several times, I’d wager he knows a bit more than Twitter management; they’re more concerned with social justice than monetising their user base, culling bots from the platform or protecting free speech.
Should also mention there’s this big meme about remote work that people seem to forget: it assumes you have a home life that allows remote work; personally I don’t have a spare room for an office and I don’t want to work where I sleep. The office creates a good work/life balance. When I’m at the office I’m there, when I’m not, I am unreachable.
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