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Started By
Message
re: Michael Burry: The white collar employment bubble is bursting right before our eyes
Posted on 9/26/22 at 7:35 am to wadewilson
Posted on 9/26/22 at 7:35 am to wadewilson
quote:
Okay, boomer.
Exhibit A.
1
Posted on 9/26/22 at 7:43 am to wadewilson
quote:
What's changed?
When people work remote its difficult to train people. Not sure how this would be tough to understand.
Posted on 9/26/22 at 7:44 am to SECdragonmaster
quote:
We completely replaced our billing department from oversees for 40% of the expense and we have collected more (quarterly) than ever before. I was sad to let those people go but business is business when we don’t share space and form relationships.
I have ran WFH for the last 7 years for my office staff and I had to let go or reduce people during CV. I have replaced some of them with overseas help for way cheaper and will be doing so with the rest. I will basically have myself and my manager left here. The rest will all be overseas.
We deal with HUD a lot where rates are established and rates have not gone up in years. Even without CV coming along I was going to have to reduce my internal overhead. The rest that works for me are all 1099 work in the field subcontractors and I had to start paying them more to retain them so our profit percentages have dropped since HUD won't raise rates and the only way to pay the subs more and maintain profitability was to reduce the internal operating cost.
Posted on 9/26/22 at 7:45 am to BlackPawnMartyr
quote:
When people work remote its difficult to train people. Not sure how this would be tough to understand.
And it makes team/group work less dynamic. The funny thing is the younger generations have been socialized by a wfh model that big tech has promoted via social media, dating apps, online gaming friends, etc.
They created the monsters they're now trying to force back into the office.
This post was edited on 9/26/22 at 7:46 am
Posted on 9/26/22 at 7:46 am to tiggerthetooth
quote:
Michael Burry:
Consider the source, yall
Posted on 9/26/22 at 7:47 am to SECdragonmaster
quote:
But we have no intention of supporting your personal job flexibility desires.
Then you're cutting yourself off from a lot of potential great people out of spite.
You're a dinosaur.
Posted on 9/26/22 at 7:48 am to BlackPawnMartyr
quote:
When people work remote its difficult to train people. Not sure how this would be tough to understand.
My wife is full remote. Never been to her company's home office.
She's great at her job.
If you cannot adapt to train people in a modern workspace, that is your failure, not your employee's.
Posted on 9/26/22 at 7:49 am to SECdragonmaster
quote:
3. Those that choose to work from home are not considered for promotion or upper level management.
This is bullshite
quote:
My reasons?
I cannot place you in my most trusted positions if I do not interact with you regularly.
A. Character matters.
B. Temperament matters.
C. How quickly you solve problems and resolve conflict in the moment matters.
All can be accomplished in a remote setting.
quote:
We completely replaced our billing department from oversees for 40% of the expense and we have collected more (quarterly) than ever before.
Oh ok, the real motivation I see.
Posted on 9/26/22 at 7:49 am to Cajunhawk81
quote:
Exhibit A.
No, you're just lazy. If you're going to generalize a couple of entire generations, you need to go ahead and retire.
Posted on 9/26/22 at 7:50 am to USMCguy121
quote:
Overpaid administrators are a big problem for a lot of companies, interesting to see what happens.
The amount of redundancies in HR departments is crazy. Hell, modern HR departments are crazy and are basically adult babysitters for people that can't handle criticism and/or the real world.
Posted on 9/26/22 at 7:52 am to GetCocky11
quote:
All can be accomplished in a remote setting.
Don't you know you can't be sure your employees are working unless you can bird dog them all day, baw?
You can tell who's over 50 by the comments.
Posted on 9/26/22 at 7:56 am to wadewilson
quote:
Don't you know you can't be sure your employees are working unless you can bird dog them all day, baw?
You can tell who's over 50 by the comments.
That poster sounds like a shitty boss.
"Hey talented individual, you can work remote and do a better job than anybody in the office, but you will never be promoted. Oh by the way, I love outsourcing work overseas, so even if you work in the office, I'll cut your job in an instant anyways if I can profit more. Now kiss my ring."
Posted on 9/26/22 at 7:59 am to GetCocky11
If he can outsource that many of his subordinates with no downside, then how important is his job, really?
Posted on 9/26/22 at 8:00 am to wadewilson
quote:
Don't you know you can't be sure your employees are working unless you can bird dog them all day, baw?
It is harder to tell but not impossible in a WFH model. As stated earlier I went full WFH with my employees about 7 years ago. You can get monitoring software for WFH but that only tells so much IMO. 99% of the time I know who is doing what but I also had suspected for a long time I had an employee double dipping with another job and not fully focused. It was harder to prove and took longer to prove but I was finally able to. Her salary was fair and she was just being greedy.
If it wasn't WFH she would have never been able to try to work two full time jobs at the same time to start with. She also took advantage in other ways that would have been easier to prove in an office setting.
WFH will get stricter as more people like her take advantage. Companies are already seeing huge dips in productivity since WFH was widely adopted during CV. They will either monitor you more with keyboard trackers, cameras, etc or just let people go as Burry is saying.
Posted on 9/26/22 at 8:03 am to stout
quote:
They will either monitor you more with keyboard trackers, cameras, etc
Its so unnecessary.
Either you get your work done in a satisfactory manner or you don't.
It is that simple.
Posted on 9/26/22 at 8:06 am to GetCocky11
quote:
"Hey talented individual, you can work remote and do a better job than anybody in the office, but you will never be promoted
Elon Musk has said the same thing FYI. If you are in management at Tesla or SpaceX you have to work in the office. He basically had the same reasoning for it.
quote:
Oh by the way, I love outsourcing work overseas, so even if you work in the office, I'll cut your job in an instant anyways if I can profit more. Now kiss my ring."
He said the opposite. He said the WFH people proved their jobs could be done from anywhere so why not do it cheaper overseas?
The real blame for the amount of outsourcing we are about to see is the Government. Between raising corporate taxes and printing money causing runaway inflation companies have to cut costs in any way they can.
Also, blame how ridiculously expensive it has become to employ just one single American which again a lot of that is on the Government.
All of that is what Burry is alluding to and you two are being obtuse to.
Posted on 9/26/22 at 8:07 am to Jimbeaux
quote:quote:
I would imagine a lot of DEI and HR positions are on the block in the impending layoffs. A lot of those positions are redundant, unnessecary, overhead, and people who want to exclusively WFH.
You’d think so, but the demand for “diversity” is still strong.
This. We recently had a company wide re-org, and somehow we ended up with more HR and "culture" people. We have a lady making 6 figures, and outside of putting up posters, I have no clue what she does most of the time. Must be nice.
This post was edited on 9/26/22 at 8:17 am
Posted on 9/26/22 at 8:08 am to wadewilson
quote:
My wife is full remote. Never been to her company's home office.
She's great at her job.
All yall bitching about having to actually go to work instead of laying in your pajamas all day need to realize that if you were as good at your job as you think, you'd be the boss or you could start your own business.
Posted on 9/26/22 at 8:09 am to GetCocky11
quote:
Either you get your work done in a satisfactory manner or you don't.
It is that simple.
Its not that simple. People take advantage. Some people spend more time trying not to work than actually working.
What do you do? Are you in any form of management or a business owner?
I will say that the downside to WFH for productive people that are monitored with tacking software is that if they are too productive then the company will expect more and more out of them.
It really is a double-edged sword.
Posted on 9/26/22 at 8:11 am to stout
quote:
Its not that simple. People take advantage. Some people spend more time trying not to work than actually working.
Do they get their work done?
Are the tasks you assign to them completed?
This post was edited on 9/26/22 at 8:12 am
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