man leaving job as a result of the silicon valley exodus
The Future of Work

California Leaving: The “Techxodus” Is Real

By June 9, 2021 2 min read

Human migration uses something called the gate test: if a state opens its gates, do people flee or enter? For the past three decades, more people have left California each year than have moved to the state. And the global pandemic seems to have intensified the trend. For the first time in history, California’s population declined and the state lost a congressional seat.

For every new Bay Area resident, two are leaving

The “techxodus” is taking place in the heart of California, its tech hubs. The Bay Area had been experiencing a net outflow of residentsmore residents have left than moved inlong before the global pandemic. But as the pandemic accelerated the shift to remote and more companies allowed employees to work from anywhere, the net outflow almost quadrupled. It has averaged 49.8 percent since September 2020, which means that for every new Bay Area resident, two have left. Workers cite a better home environment and lower cost of living as the main reasons for leaving. 

Tech workers would leave the Bay Area if they could work remotely

What’s more, a survey revealed that two out of every three tech workers would leave the Bay Area if they had the option to work remotely. While 36 percent said they’d leave for other US regions, 16 percent said they’d consider leaving the US entirely. 

To getand keeptop talent, Silicon Valley will need to go remote

Remote work experts expect many tech workers will demand the option to work remotely. At Turing’s recent Boundaryless: #ScalingPostPandemic Conference, senior Cushman & Wakefield executive Gabe Burke said he expects that, if talent demands remote work, employers will likely provide the option. 

Read the full reports here & here

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Summary
California Leaving: The Silicon Valley Exodus Is Real
Article Name
California Leaving: The Silicon Valley Exodus Is Real
Description
For the first time in history, the California state population declined. Now, two new reports show further evidence to confirm the Silicon Valley exodus is real.
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Turing
Turing
Marketing Team
turingcom
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