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This Top Tech Stock Is Doing Right by Its Employees During the U.S. Labor Shortage

By Rachel Warren and Brian Withers – Nov 16, 2021 at 7:00AM

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Not all companies are losing workers right and left.

Companies across all industries are losing employees right and left and struggling to find new talent to fill existing roles during 'The Great Resignation.' But some companies are navigating these changes in the global workforce better than others. In this segment of Backstage Pass, recorded on Oct. 27, Fool contributors Rachel Warren and Brian Withers discuss one such household name. 

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Rachel Warren: My pick for this was another company I talked about a lot, and that was Zoom (ZM -0.88%). Zoom was named as a Best Place to Work in 2021 as one of the winners of Glassdoor's Employee's Choice Award. I was reading through their website and recognized for many different things over time, for best CEO, best CEOs for women, best CEOs for diversity, and this was according to ratings by a company called Comparably. Best company culture, best company perks and benefits. I was looking more into, what does Zoom exactly offer its employees?

One of the things that I think really draws potential employees to Zoom is that the company has throughout the pandemic, but I believe also as part of their just general corporate structure, they have a lot of flexibility that they offer to their employees in terms of how and where they work, and I do know that a lot of the roles that they hire for are remote.

Another thing is Zoom offers time off with no cap on paid time off. But I feel like that's something I've seen in a lot of start-ups over the years is basically limitless PTO, which is definitely a huge perk.

During the COVID-19 crisis, Zoom was offering all additional benefits to support its employees working from home, from office equipment to gym equipment, groceries, and even food delivery.

High ratings from Glassdoor and its employees, and also offerings those benefits and I think that work flexibility that people are increasingly valuing in today's work environment.

Brian Withers: I remember I had went to a Fool event where they were interviewing Eric Yuan, and this was a few years back when we did in-person events. [laughs]

Warren: Back in the day.

Withers: Yeah, way back in the day. I remember Eric talking about that if you wake up in the morning and you aren't happy to go to work, he says, you're welcome to stay home and figure out what it is that is not making you happy to come to work.

He talks about how the Zoom platform delivers happiness. He also takes it seriously in the workplace. I imagine that's why they receive a lot of these awards, is the CEO is committed and this was the same thing.

All three of these companies that we talked about, their CEO is absolutely committed to having a great culture and it's paid off these three stocks. If you've held these three stocks for any length of time, you'd have done very, very well.

Warren: Yeah, DocuSign, Shopify, and Zoom. That's a nice little basket of stocks right there. 

Rachel Warren owns shares of Shopify and Zoom Video Communications. The Motley Fool owns shares of and recommends DocuSign, Shopify, and Zoom Video Communications. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy.

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