(2021-04-21) Roose Walk Welcome To The Yolo Economy

Kevin Roose: Welcome to the YOLO Economy. Burned out and flush with savings, some workers are quitting stable jobs in search of post-pandemic adventure.

Some are abandoning cushy and stable jobs to start a new business, turn a side hustle into a full-time gig or finally work on that screenplay. Others are scoffing at their bosses’ return-to-office mandates and threatening to quit unless they’re allowed to work wherever and whenever they want.

I started hearing these stories this year when several acquaintances announced that they were quitting prestigious and high-paying jobs to pursue risky passion projects

all variations on the same basic theme: The pandemic changed my priorities, and I realized I didn’t have to live like this.

If “languishing” is 2021’s dominant emotion ((2021-04-19) Grant There's A Name For The Blah You're Feeling It's Called Languishing), YOLOing may be the year’s defining work force trend.

Fearful of an exodus, employers are trying to boost morale and prevent burnout.

Raises and time off may persuade some employees to stay put. But for others, stasis is the problem, and the only solution is radical change.

Disillusioned workers with money to spare have always gone soul-searching. And it’s possible that some of these YOLOers will end up back in stable jobs if they spend through their savings, or their new ventures fizzle.

“Lots of things were on hold during the pandemic,” said Jed Kolko, the chief economist at Indeed.com. “To some extent, we’re seeing a year’s worth of big life changes starting to accelerate now.”

In addition to the job-hopping you’d expect during boom times, the pandemic has created many more remote jobs, and expanded the number of companies willing to hire outside of big, coastal cities

deeper, generational disillusionment, and a feeling that the economy is changing in ways that reward the crazy and punish the cautious.

Not every burned-out worker will quit, of course. For some, an extended vacation or a more flexible workweek might quell their wanderlust. And some workers might find that returning to an office helps restore balance in their lives.

Hunter Walk: The Great Talent Reshuffling of 2021 Has Begun. Why the next 6–12 months will be the best time in a decade for startups to hire.

In Our YOLO Economy New York Times’ Kevin Roose labeled the new attitude sweeping workers in certain privileged parts of the economy

the “I’m starting a new company/open to a new gig” inbounds are up since Jan 1.

We’re also seeing people vote with their feet towards companies which share their values and away from companies that, in their mind, violated a social contract. (BaseCamp)

The company’s business matters too — the agriculture, health care, financial empowerment startups in Homebrew’s portfolio are all telling me about an increase in candidates who mention the mission as a reason they’re attracted.

Employees are going to vote with their feet and I feel for People Ops teams who are going to be having a tremendous number of emotional conversations.

Here are some things I’m seeing the best startups do to prepare for the opportunity:

Build a Stretch Headcount Budget -> Sometimes you gotta bust the headcount plan when there’s a chance to make key hires

Double Down on Passive Candidate Outreach -> Flood the zone! Seriously, ping the folks who might have turned you down previously just because of timing.

Company Culture “Data Rooms” -> Collections of internal communications and documents which allow candidates to see if the walk matches the talk.

*Don’t Forget the Partner/Spouse/Families... *