The tech industry has long embraced equity compensation as a way to entice employees, making it notable that cash has now become a central focus. In 2021, 60% of companies in the survey increased their cash compensation, while just 37% increased equity allocations. That trend is expected to continue for 2022, especially on the US West Coast, where 77% of companies anticipate increasing their cash compensation for employees. As a result, the tech industry job seekers may see fewer job openings because companies will absorb the financial impact of increased wages, 47% of companies in the survey said they would scale back hiring plans leading to hiring freezes.