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Chip Cutter
Reporter at The Wall Street Journal
Chip Cutter is a journalist with a passion for innovative storytelling and engaging with readers. Starting his career at The Associated Press in New York, covering financial markets and the economy, he later transitioned to become one of the pioneering members of LinkedIn's editorial team. Chip is currently involved in reporting on work and management topics at The Wall Street Journal. He holds a B.A. in Journalism with a Minor in Business from Indiana University Bloomington.
Highlights
Bosses want to lower worker pay. They’re quietly finding ways to do it.
A pay reset is beginning to take shape across industries, as Ray Smith, Lynn Cook, Vanessa Fuhrmans and I report today.
Some companies are reducing the seniority level of white-collar roles. Others are laying off employees and later rehiring some of the same people as contractors — at lower rates.
Plenty of other businesses are undertaking broad geographic exercises to figure out where to locate employees now and in the future. Instead of putting data analysts in the U.S., for example, some companies are looking to add people in Mexico, or lower-cost parts of Europe, like Poland.
The questions executives are exploring, as one corporate adviser told me: What capabilities do we need now, and where can we get them in the lowest-cost way?
A few weeks ago, an HR chief casually mentioned to me that his company had started bringing a therapist directly to the office for employees. What?
For years, employers have touted access to wellness programs, mental-health apps and assistance lines for workers. But most have stopped short of offering therapy on site during work hours.
Synchrony Financial, which issues credit cards for companies like PayPal and Sam's Club, is doing something fairly novel. The company, at the request of its youngest workers, added a therapist at its headquarters earlier this year.
Psychologist Jennifer A. Nielsen, PsyD now sees employees for appointments on Tuesdays and Wednesdays most weeks; staffers get access to a dozen free sessions each year. Her office on the company's campus is a serene space behind frosted glass, and appointments are staggered every 15 minutes so colleagues don’t run into each other.
Getting to this point took lots of debate internally (including what type of therapist to hire, and where to put an office). The benefit has been embraced within the company, even if it is still largely unheard of at other major U.S. employers. Here's our story:
