Putting the stock in Christmas stocking, end of year time off, bias in the workplace
Here are 5 things to know about work this week.
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1. 70% of Americans want to receive stock as this year’s holiday present
Equity compensation was once a powerful way to attract and retain workers, especially if it could significantly boost total compensation.
But, Glassdoor ’s 2024 workplace trend report predicts that equity compensation will decline for a second consecutive year as competition for skilled workers cools — especially among entry-level workers.
With equity compensation on the decline, some workers are hoping for another type of holiday gift from employers this year. According to a new Yahoo Finance poll, 70% of Americans want to receive stock as this year’s holiday present. Yahoo’s survey found that 61% said a holiday gift of stock would contribute to savings for the future, 54% said stock would help them build wealth and 23% said they would use stock to offset inflation. The excitement around investments comes after November’s streak that saw major stock averages up four weeks in a row.
2. Shadow vacancies make an office seem occupied when it actually isn’t
Shadow vacancies are when a space looks occupied on paper, even if it’s not actually getting utilized by the tenant. The concern is that a swath of corporate tenants may not renew their leases in the future, sending vacancy rates up and further taking activity away from previously vibrant city centers. And while it’s not a new concept, it is getting more attention today as the full impacts of the pandemic become more clear.
Right now office vacancy in the U.S. is around 18% while about 80% of office space is currently occupied, said Julie Whelan , global head of occupier research at real estate firm CBRE . Office vacancy is expected to peak at just below 20% at the end of next year.
“But we don’t think we’ll be in a market that’s ever 40% vacant,” she said. “You cannot deny that downsizing is happening, because it is, but we do not think it’s going to be the death of the office market,” said Whelan.
3. Why it’s table stakes to have a company-wide shut down at the end of the year
The week between Christmas and the New Year has long been derided as a phone-it-in work week until the world returns to normal on Jan. 2. As a result, companies began closing for the week — a trend that continued as the pandemic helped employers reframe a work-life balance.
Workplace experts say this time off is table stakes, and should be a norm across desk jobs where work can be paused. While it might’ve once been seen as a perk that retains and attracts employees, it’s expected today.
“It’s a no brainer,” said Alli Ray , chief of staff at Codeword . “Let’s take advantage of this time.”
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Apartment List , another company which has been offering this company-wide holiday break since 2021, conducted surveys around its success. Its internal survey data has been clear about the positive impact company days off have in reducing feelings of burnout, contributing to a sustainable work-life balance. Employees reported feeling invigorated and recharged following company holidays and felt this benefit showed the company valued and supported them.
4. Workers aren’t stepping away from their computer all day long
Nearly half of workers never take a dedicated break during their work days — and it’s actually making them less productive, according to a new survey from Slack .
Here’s what you need to know:
5. Leaders need to get educated on the different kinds of biases in the workplace
There are over 150 cognitives biases in the world. Out of those, there are around 25 that show up regularly in the workplace.
“When we hear bias, our minds immediately go to race, gender, maybe sexual orientation,” said Christy Pruitt-Haynes Consulting , global head of talent and performance practice at business consultancy NeuroLeadership Institute . “All of those are very real components of bias, however it’s really important for everyone in the workplace, especially leaders, to learn there are other types of bias as well that go beyond race and gender.”
That’s why we put together a shortlist of five biases that are top of the list in terms of how pervasive they can be if they aren’t identified and mitigated as soon as the bias starts to happen. That includes affinity bias, gender bias, recency bias, contrast bias, and fundamental attribution error.
Elsewhere in Digiday Media
Check out some of Digiday Media’s other stories on the future of work over the past week:
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This newsletter was curated by Cloey Callahan, senior reporter at WorkLife. Let us know what you think, or what you hope to see more of, by dropping us a note at cloey@worklife.news.