Silicon Valley Workers Afraid To Go To Work As Coronavirus Fears Spike

china who coronavirusTumisu / Pixabay

As the economic trends stemming from the Coronavirus are trickling into the workforce, Blind, an anonymous professional network with over 3.2M work-email verified professionals, is conducting on-going research on how professionals are feeling in terms of their perceived job security and concerns around their total income in the face of Coronavirus.

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For context, Blind is an anonymous professional network with over 3.2M work-email verified professionals from Amazon, Google, Bloomberg, Visa, and many more. Starting back in February, the platform began to pose various questions to its users regarding discrimination in the workforce, work from home policies, and productivity.

Key Takeaways from the initial surveys:

  • More than 76.1% of Amazon professionals are working from home (3/04)
  • Only 30% of google professionals are working from home as of (3/04)
    • Google employees are largely dissatisfied with their company’s response to the Coronavirus (3/04)
  • As of last Wednesday, the fear of going to work is escalating
    • There is a trend in the dates, there were a total of 5,942 participants, and the survey ran between 3/01-3/04.
    • On March 1st, 67.8% of professionals responded that they are hesitant to go to work, and the number has risen to 76.1% in just three days.
  • As more people are becoming afraid, they think it is also negatively affecting their productivity with a rising trend.
    • On March 1st, 36% of professionals responded that their productivity is negatively affected by the spread; the number has risen to 47.3% in just three days.
  • 20% of Chinese citizens have witnessed backlash towards employees of Chinese descent at their company after the coronavirus outbreak. There were a total of 7,311 participants, and the survey ran between 2/01-2/25

The Blind team has been closely monitoring Coronavirus and has been actively aggregating data from its users. As Coronavirus evolved, Blind then asked the professionals on their network two questions:

The Economic Trends Stemming From The Coronavirus

  1. Are you concerned your job security will be negatively affected by the economic trends stemming from the Coronavirus?
  2. Are you concerned your total income is going to be negatively affected by the economic trends stemming from the Coronavirus?

Key Findings as of 3/11:

  • 53.8% of professionals are concerned about their job security
    • More than ½ of Tech and Finance professionals are worried about their job security
  • 62.2% of professionals think their total income is going to be negatively affected
    • Tech Professionals are trending to be more concerned than finance professionals regarding their total compensation
  • Expedia, Cisco, Uber, and Intel are some of the companies where professionals are most concerned about their job security the most
  • Cisco, Uber, Facebook, and Expedia professionals are most concerned that their total income is going to be negatively affected by the economic trends stemming from the Coronavirus
  • 67.2% of Google employees fear their total income is going to be adversely affected

Professionals on the platform are also sharing their personal finance decisions; one can see posts like these: where a LinkedIn employee explains why they sold their stocksAdditionally, they opened up a Coronavirus channel within the app; users can explore it here. In such an uncertain time, users are finding comfort during a pandemic. There is a sense of community and transparency on the platform.

monitoring Coronavirus

monitoring Coronavirus

economic trends stemming from the Coronavirus

economic trends stemming from the Coronavirus

economic trends stemming from the Coronavirus

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About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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