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Why Tech Giants Are Meeting Virtually For The Long-Term

Tech Giants are Shifting Thousands of Employees to Remote Work.

The global COVID-19 pandemic is showing no signs of being resolved anytime soon. As a result, tech giants have been forced to explore new remote working possibilities for their vast workforces.

Tech Salaries

A shift to a completely remote working tech industry would have a significant impact on employee salaries. Facebook is among the companies considering localized compensation, where an employee is paid an amount that is dependent on where he or she is located in the world.

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Political Benefits

The tech industry’s culture and base in coastal states such as California, Seattle, and New York have created a political divide. Ro Khanna, a U.S. representative from California’s 17th Congressional district, recently cheered on the shift that tech companies are taking.

Expanded Talent Pools

Other cities can win in this scenario. Currently, most of the tech industry’s talent is concentrated in specific hubs, including Silicon Valley. This comes with disadvantages in that companies are held back from accessing the best talent the country or the world offers.

Cutting Costs

For years tech giants have been offering incentives and benefits to its employees. Employees who work in Silicon Valley get more than just a basic office setup and a salary. Benefits included free lunches, on-site massages, and chiropractic treatment. Employees also get access to spaces such as Silicon Valley: Apple Park and the Googleplex that are as large as entire theme parks.

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