Social Media Means
Social Media Means
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2.3 years The average Facebook employee tenure is 2.3 years with an attrition rate of 5%.
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Read More »What is the number of Facebook employees? Facebook has 58,604 full-time employees as of December 2020. The figure covers all 82 Facebook locations worldwide. Facebook’s Menlo Park headquarters employs 15,000 workers based on 2018 records and has plans to hire up to 35,000 for its Bay Area facility. The leading social network has nearly 50,000 full-time workers spread globally. More than 60% of Facebook employees are located outside of the US. There are 82 Facebook offices across in North America, Latin America, Asia-Pacific, Africa, and the Middle East (Facebook, 2021). Employee retention at Facebook is high with employees staying 2.3 years on average (Levitsky, 2020). One factor that contributes to lower employee attrition rates is the compensation and benefits package offered by the company. Facebook claims 44,942 full-time employees in its labor force. The social network titan boasts of 3,142 jobs spread out in 23 teams in its 82 offices across the globe. The biggest growth jump in employees was in 2006 where worker numbers jumped 900% to 450 employees from 150 in the previous year. The employment growth rate grew at an average of 44.34%. The rate has since slowed down 26.29% for 2019.
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Read More »The high-energy startup vibe of tech companies like Facebook makes it attractive to interns trying to establish a career in Silicon Valley and tech veterans. Facebook is a good fit for both but criticisms, ranging from ageism to a lack of privacy and personal space in the open workspaces, to the inability to separate personal life from work life, have caused low morale among employees. This dissatisfaction has manifested in unfavorable reviews—anonymously posted and otherwise—on online forums Reddit, Quora, and the like. The company had seven employees when Facebook launched in 2004. By the time Facebook launched its IPO, the workforce has grown to over 3,200. Facebook has a low turnover rate of 5% and an average employee tenure between two to two and a half years. The year 2018 saw a rise in employee attrition rates when the company was dealing with backlash from user data leaks, management’s delayed response in dealing with the fallout, and several congressional hearings on fact-checking political ads and use of user data without owner consent. In a study ranking the top Silicon Valley employers, Facebook placed fifth on the list and now boasts a local employee headcount of over 15,000, making the company enticing to job hunters (Downey, 2019). So enticing that Facebook is said to receive over 250,000 applications a year, not counting inside referrals. Similar to other multinational corporations, Facebook has a layered hiring process with three interviews to hurdle. The process is straightforward. Prospective employees send their resumes—either through a recruiter or through Facebook itself (Facebook Careers, 2021). Should the resume meet the hiring requirement, a Facebook recruiter will conduct a preliminary phone interview. A second phone interview follows with a team manager for the unit that’s hiring to check for role suitability. This progresses to an in-person interview and a visit to Facebook HQ (or where ever the Facebook office location is). A review of the application will be done and if the candidate is a good fit, an offer will be proposed. As previously mentioned, Facebook has three possible interviews in its hiring process. The actual length will vary depending on the position and Facebook location applied at. With the volume of job applications Facebook goes through, the process usually takes three to four weeks with a few days to a week in between interviews. The Facebook hiring team takes a week or two to go over hiring notes and input from all the managers a prospective employee interviewed with and the feedback from the candidate. Depending on the location or the hiring manager, the candidate will receive a call or an email to notify whether he or she got in or not, and advised when they could try again should they still be interested. Facebook’s recruitment and hiring policy recommend a one-year wait in-between applications. The reasoning for this is for the candidate to learn new skills and improve from experience. There is also a three-job application limit to ensure prospective employees who apply have core skills and are a good fit for the position applied for. A good starting salary in Silicon Valley is usually matched with perks routinely described as impressive. VMware lets employees take two-day bereavement leave for the death of a pet and Airbnb gives an annual $2,000 allowance, which employees can use to check in to any listing around the world. The compensation and benefits package is tempting but there is also the criticism that it only profits a few at the top, leaving others to fend for themselves (Wong, 2017). The social network’s employee benefits are numerous. It starts with a holistic health and wellness package that includes coverage for autism, transgender, and mental health issues. There is also a flexible spending account for dependent care and healthcare expenses (Facebook, 2021). Insurance, Health & Wellness Financial & Retirement Family & Parenting Vacation & Time Off Perks & Discounts Professional Support Health Insurance 401K Plan Maternity & Paternity leave Vacation & PTO Employee Discount Card Diversity Program Dental Insurance Retirement Plan Dependent care Sick Days Free lunch or Snacks Job Training Flexible Spending Account (FSA) Performance Bonus Childcare Paid Holidays Employee Assistance Program Professional Development Vision Insurance Restricted Stock Units (RSU) Baby Bonus Bereavement Leave Gym Membership Health Insurance Family Medical Leave Commuter Checks & Assistance On-Site Health Care Mobile Phone Discount Mental Health care Company Social Events Facebook employees get restricted stock units (RSU). RSUs keep their value, unlike stocks that fluctuate in the market; RSUs can be sold after four years. Facebook has the option to buy back RSUs from their employees at the same price it was issued, regardless of price drops.
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Bob"" is slang for shilling (which is 5p in todays money) 1 shilling equalled twelve pence (12d). £1 (one pound) equalled 20 shillings (20s or...
Read More »Stock options were no longer an option prior to the company’s IPO in 2012. In fact, Facebook started offering RSUs to employees in 2007 to avoid diluting ownership and going over the 500 shareholder limit allowed by SEC to keep company financials private. Facebook’s company page touts a progressive and inclusionary workplace accepting of diverse backgrounds. Reviews on Glassdoor and Indeed are often positive. There is occasional dissent from former employees, describing the atmosphere as cult-like and intense. But nothing too scandalous to merit national headlines. Facebook turned 17 and with age comes growth and maturity. The company isn’t a startup anymore and has dealt with its share of failures. It has also improved where it is lacking; addressing changes in employee benefits, affordable housing concerns, and equality and diversity in its employees. There is no exact data on how many of Facebook’s employees became millionaires after the IPO. The claim “Facebook will create 1,000 millionaires” became a catchphrase to describe the IPO fever that swept the tech world in the days leading to Facebook going public. The bigger names from the company’s roster did become millionaires, billionaires for some. Leading the list of billionaires are the founders who built the website from the ground up—Mark Zuckerberg, Dustin Moskovitz, Eduardo Saverin, and Chris Hughes (Hughes, 2019). Employees in smaller roles when Facebook launched its IPO experienced windfalls but did not quite reach millionaire status. Antonio Garcia Martinez, a former product manager at Facebook wrote of his time in the company (García Martínez, 2021). He recalls the onslaught of luxury cars popping up in the office parking lots and four-digit restaurant bills after Facebook went public. The average age of a Facebook user is between the ages of 18–24 years old in its early years. The user base has grown with the company with current worldwide user stats placing the average user age between 25–34 years old. Employee age is closer to current user statistics–fresh off college or millennial. While the gender divide is still far from equal, Facebook is taking steps to address the unequal gender representation among its employees.
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