ABNB

Airbnb, Inc.

93.93
USD
-3.69%
93.93
USD
-3.69%
92.05 212.58
52 weeks
52 weeks

Mkt Cap 32.58B

Shares Out 346.82M

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How Airbnb Is Giving Power to Its People

Airbnb's (NASDAQ: ABNB) new recruitment and retention policy for employees could be transformative. In this video clip from "The Virtual Opportunities Show" on Motley Fool Live, recorded on May 3, Fool.com contributors Travis Hoium, Rachel Warren, and Jose Najarro discuss how the vacation rental company has become a leader in workforce flexibility, letting people work and live wherever they want. Find out why Airbnb, Inc. is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Airbnb, Inc. is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of April 27, 2022 Travis Hoium: The thing I think it's really notable about this is the pay piece of it. Because a lot of times and I think Meta (NASDAQ: FB) did this during the pandemic was basically said, cool, if you want to move out of the Bay Area, that's great. But you're going to take a 40% pay cut or something like that. If you think about it from a business perspective, it isn't like the job changes because you live in Nashville instead of San Francisco. It doesn't really make sense that your pay structure would necessarily be different in this current world that we live in, this more digital world. I do think that's really interesting. It will be interesting to see if other companies followed that. I worked at 3M (NYSE: MMM) for a while and there was like a base pay structure. Then if you lived in one of a handful of high-cost areas, you got a little extra just so that you could afford to live there. It seems like tech companies have kind of gone the opposite direction. If you start in San Francisco and then you move to a lower cost, they'll deduct your pay. It was good to see that. That's something that I think would be compelling for a lot of people who, I'm from the Midwest, there's a lot of people who will move to the West Coast, live there for a few years, and then be like, yeah, I'm not going to wait and try to save money to buy a $1.5 million shoebox, I'm going to move back to the Midwest. If you've got a job at Airbnb or Meta or something like that and then you could then move elsewhere that was lower cost, I think that is potentially really compelling and could bring the best talent to those companies without having to force them to live in Silicon Valley. Rachel Warren: Yeah, absolutely. Jose Najarro: I agree there with Travis where I do think the biggest thing that grabbed me there was the pay change my wife, very similar to what Travis mentioned. If she was to move to a different state, her pay would decrease. Here in the East Coast in Jersey is probably one of the highest because we're closer to the New York area. It does seem like maybe Airbnb also wants to enter a new solution and they want to start testing it out with their employees. I think that's also pretty smart in that direction. Pretty cool. Again, I wanted to see how the other big techs, because I personally thought we were going to start to see the opposite where maybe not return everybody back to the office or do more of like a mixture of hybrid in between. It's pretty interesting to see Airbnb be like, nope, we're doing this completely, however you want to work and live your life. Warren: I will add one more thing here. I will say this article by Bloomberg that was saying about how Airbnb is trying to really compete for talent. It noted the examples of some of these other really large companies like Apple (NASDAQ: AAPL), like Microsoft (NASDAQ: MSFT), and it was saying, for example, Apple takes pride in its culture of secrecy and it's trying to figure out whether that hush, hush development process is feasible with decentralized employees. It also cited the example of Microsoft. They were saying, Microsoft is opting for a hybrid strategy. Yet schedules with more than 50% remote time have to be approved by managers. Then essentially there has been a mess of approaches to work in the post lockdown era. For Airbnb to take such a broad approach, it seems to really outpace the movement in this direction toward flexible work that we've seen from any of these other really big names. Hoium: Well this gets the culture too. Do you have a culture that is built to do work remote first, as opposed to being in an office first? I think it's going to be much, much harder for Walmart (NYSE: WMT) to go to work remote than it will be for a company like Airbnb because they are a digital-first company. That will be something to watch. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Rachel Warren has positions in Apple. Travis Hoium has positions in Airbnb, Inc., and Apple. The Motley Fool has positions in and recommends Airbnb, Inc., Apple, Meta Platforms, Inc., and Microsoft. The Motley Fool recommends 3M and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

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