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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Many large and admired private organizations (Google, Microsoft, Amazon, etc.) are now cutting jobs because they overhired during the pandemic. Yet, they expect to do just as well or better in the future. These same companies are also requiring more people to return to the office. One issue they cite is the decline in innovation. [b]What makes you think that the Fed - a government bureaucracy - is immune to the same issues and remedies?[/b][/quote]

Because the Fed should be more concerned with hiring talent with the appropriate experience than forcing them to go into an office to innovate.  The Fed isn’t google.  [/quote]

The Fed cannot compete on private sector salaries, so it MUST compete on other terms & conditions, like WFH. There are actual scholarly articles written about how the financial markets cannot be well regulated unless financial regulators can attract and retain the best staff, given ALL the money on the other side. It’s not optional - the Fed cannot treat its employees as disposible. [/quote]

How did the Fed compete before WFH? Aren’t the agency’s work/life balance, pension, flex scheduling, lifetime healthcare, and generous leave sufficient differentiators. Why is WFH now the must-have difference?[/quote]

Pre-Covid the Fed offered WFH to be able to hire experts in other parts of the country.  The new policy is more restrictive.  [/quote]

It doesn’t matter. Every expert for every Board project doesn’t need to be employed by the Board. That’s why it’s called a System. Most major initiatives at the Fed involve RB personnel. Alternatively, the Fed could do as you suggest, but geo pay should apply and regular, enforced office visits should too. Someone based in flyover country shouldn’t receive a DC salary. Part of the DC salary is to afford DC real estate. [/quote]

The Board WFH policy shouldn’t be based off of your emotions about WFH and that you’re angry you had to buy overpriced real estate here.

It should be based on what works for the organization and helps retain and promote the best staff.  [/quote]

My statement is not emotional (nice try). [b]If cost differentials in real estate are not the primary driver of differences in COL - and thus geo pay - what is? [/b]What I’m talking about is economic fairness. Will that be part of your unionizing manifesto?

As for including the best staff on projects, you haven’t addressed the fact that the overwhelming number of most large Board projects include lots of RB staff. The Board has never employed all the “best” experts of the System. [/quote]

Oh wow. The geo pay scales are based on market wages.  Not COL!  Of course COL is related.  How do you not know this?[/quote]

How do you not understand that market wages are mostly impacted by COL, assuming similar tasks and skills? If that wasn’t true, why don’t the RBs pay Board rates for similar tasks and skills?[/quote]

Go do some research on the government payscale.   It might surprise you.  Some areas of the country pay much higher wages in comparison to the COL. [/quote]

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