Facebook renaming meta will not help solve the problem of employee turnover

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Tencent technology news on October 29, Facebook co-founder and CEO Mark Zuckerberg officially announced at the connect developer conference held on Thursday that the company name will be renamed “meta” to reflect the company’s ambition to surpass social media. However, for Facebook, which is in the vortex of public criticism, the renaming will hardly help employers’ efforts to retain employees and attract new employees.
“I suspect that this approach can save or protect the employer brand to a large extent,” said Brooks Holtom, a business professor at Georgetown University who specializes in how organizations acquire, develop and retain human and social capital. “Because Facebook faces so many mistakes and public criticism, leading to brand damage, people in the industry will not be confused by this brand reconstruction.”
In recent weeks, due to Zuckerberg and Facebook’s handling of misinformation and hate speech, as well as the potential harm of social media to teenagers and children, regulators have been increasingly strict with Facebook. Prior to this, Frances Haugen, a former Facebook employee who later became a whistleblower, provided internal documents to the media, indicating that the company was aware that its products and services might cause harm, but it was difficult to solve these problems.
On Monday’s earnings conference call, Zuckerberg denied the claims of these documents, saying they “depict the false situation of our company”. The problems experienced by Facebook are a reflection of society.
Last week, it was reported that Facebook would change its name, which also attracted criticism that Facebook wanted to distract the outside world from a series of allegations. Holtm believes that the change of name will not change the resignation tide of Facebook employees. “Facebook has a lot of talents, and its competitors in the market are looking for talents. The competition is very fierce. To be sure, many enterprises are preparing to selectively contact those who want to move. From the perspective of talents, this is an unstable period for Facebook,” he said
According to the scores on Glassdoor, a US job recruitment and employer evaluation community website, only from the perspective of employer brand, Facebook’s ranking of the best working company has declined for several consecutive years after ranking first in 2018. In the 2019 list, the company fell to No. 7. It was previously reported that Cambridge, a political consulting company, improperly accessed the data of 87 million Facebook users. Facebook ranked 23rd in 2020 and rebounded to 11th in 2021.
Novel coronavirus pneumonia is the first batch of influential employers to be allowed to return to the office after the first crowned pandemic in early summer this year, all employees can request full-time jobs on the Facebook. The first is the 2022. Holtam said, however, that the brand name change may strengthen the retention and recruitment of highly professional employees involved in metauniverse work, so as to obtain “the opportunity to engage in truly revolutionary work with a large budget”. However, he also said that Facebook is unlikely to see a positive impact on the public or employees who do not participate in metauniverse. “I think they face great risks.” (compiled by Tencent technology / Wuji)