Tara Weiss
speaker
91 appearances
2 recordings
1 series
first heard Jan 2023
last heard Apr 2023
Tara Weiss’s voice in public audio — every appearance, attributed to the second.
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Appearances
We know what a challenging labor market this has been, and it's a great way to maybe lure people to companies that don't have that name cachet as like a Facebook or a Google, but need the same type of front back end engineers, AI machine learning people.
People who are super highly skilled.
The other thing is they're trying to demonstrate the culture that they have at the employer.
And so the concept is we're going to allow the employees or the prospective employees to decide what's most important to them when it comes to compensation.
Do I need that money right up front or am I willing to maybe take a greater chance and have a bigger windfall a little bit down the road?
This has been a benefit for startups in particular because they don't have as much cash on hand.
And if an employee is willing to defer their salary to a later point based on equity, then the company is able to hold on to that money in the short term.
Absolutely.
I think that the difference here is that right up front, as soon as they are putting together a formal offer, they are giving them two or three options and they're saying, which one do you want?
Which one works for this point that you're in in your life and your career and your family?
Absolutely, and that was one of the funnier parts of reporting this story because one CEO I spoke to said that when he would give these offers, say it was two or three offers to a prospective employee, they were so confounded by what he was trying to tell them, they thought that they were being fooled or in some way have the wool pulled over their eyes, like this company is trying to
you know, pull a fast one, cheat me if you will.
And so he started sending out YouTube videos explaining what equity is and why it could potentially be beneficial to a new employee.
That actually didn't even work.
And so he lobbied a company called Carta to actually offer a 3D sliding scale so that people could see what the different options were and what it would mean for them in their real life, in real figures.
Yeah, the companies I spoke to all said that they're seeing employees pick lower equity and higher immediate cash.
And they do attribute that to the downturn in the stock market.
Yes.
And when I spoke to the HR folks at these employers, they did address that.
And it seems that the key to avoiding awkward situations is really clear messaging, explaining that this is something that is offered to everybody.
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