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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Illustration: Annelise Capossela/Axios

Six months into pandemic-induced telework, employees' priorities are changing. Company culture seems to matter as much — if not more — to workers as getting promoted, says Amy Lavoie, who leads people science at Glint, a human resources platform owned by LinkedIn.

Why it matters: That's a seismic shift in the way Americans think about work — and it underscores the need for CEOs to pay close attention to culture during the pandemic and beyond.

What's happening: 37% of U.S. workers feel less connected to their teammates than they did before the pandemic — and 31% feel less connected to their managers — according to an ongoing survey of employee sentiment, conducted by Glint and provided to Axios.

  • Nearly 1 in 5 workers say their firms aren't doing enough to make employees feel connected to one another.
  • And those who say their companies aren't doing enough are twice as likely to say they feel burned out.

Fostering a good work culture is especially important at firms that have undergone rounds of layoffs, per the report.

  • 56% of employees said they felt less happy after seeing colleagues get furloughed or laid off, and 47% said those events detracted from their sense of belonging at work.

The bottom line: As the pandemic drags on, companies should be watching out for high rates of burnout, Lavoie says. "The pandemic could result in large populations of disengaged employees."

Go deeper

Why one startup CEO lets employees cash out every year

Illustration: Lazaro Gamio / Axios

Pipe, a marketplace for revenue-based lending, has started to let its employees sell some of their equity each year through company-managed secondary sales on the AngelList platform.

Why it matters: Shareholder liquidity continues to be a challenge for tech startups as companies remain private longer than ever before.

Dan Primack, author of Pro Rata
18 mins ago - Economy & Business

Why fears of a SPAC bubble may be overblown

Illustration: Annelise Capossela/Axios

The SPAC surge continues unabated, with 10 new ones formed since Wednesday morning. And that's OK.

Between the lines: There are growing concerns that retail investors are about to get rolled, with smart sponsors taking advantage of dumb money.

Schumer says Senate will stay through weekend to vote on COVID relief

Senate Majority Leader Chuck Schumer (D-N.Y.) accused Sen. Ron Johnson (R-Wis.) of going to "ridiculous lengths" to show his opposition to a COVID relief package widely supported by the American public, after Johnson demanded that the entire 600-page bill be read on the Senate floor.

The state of play: Johnson's procedural move will likely add 10 hours to the 20 hours already allotted for debate, during which Republicans will propose amendments to force uncomfortable votes for Democrats. Schumer promised that the Senate will stay in session "no matter how long it takes" to finish voting on the $1.9 trillion rescue package.