How to Keep a Team During The Great Resignation

Last year gave tremendous insight, as people and employers worldwide saw the same picture — everybody leaving their companies searching for a better place.

It has been over a year and a half, and "The Great Resignation" is still ongoing. According to Willis Towers Watson's 2022 Global Benefits Attitudes Survey, 44% of workers in the US are looking for work. Half of the participants stated that their primary reason was the desire to earn more. At the same time, 41% of respondents indicated that they were willing to change their company for the sake of a 5% increase in their wages — which is even lower than the amount of inflation calculated even in most stable economies.

A recent PwC study confirms that the trend is not limited to the USA. The company interviewed more than 52 thousand respondents from 44 countries, and the results are worrying — 20% of respondents want to change jobs in the next 12 months. 71% of respondents see a better salary as the critical factor.

Why do people want to switch jobs?

According to studies, the main reason behind resignations is money. As stated above, global inflation rates are growing, and the usual standard of living has already become 10-15% more expensive for many. In such situations, people need to influence their income according to these factors, where the main problem lies.

Imagine a good project manager. She works for a software company and receives a good monthly salary. As usual, she discusses a new sprint every Monday with a dozen tasks his team must complete during the week. What happens if the tasks are completed not in seven, but in five days or even two? Will this affect her fixed salary? Not very likely. However, the company may realize that it is possible to throw another 10 tasks on a capable employee so that twice as much work for the same time and the same money can be done.

Unfortunately, there are still situations where employees are working unpaid overtime hours. These "loaded" specialists start to feel that they must do more but do not feel the compensation in return. Over time they begin to burn out and realize that they are not appreciated and leave for other companies.

After the pandemic and "The Great Resignation," it is necessary to avoid overloading people and ensure that people themselves do not fall into this trap. Often, capable employees want to grow quickly and therefore take on more responsibilities. Companies do not always have time to notice this, especially in remote teams with asynchronous communication. This inevitably leads people to think, "Does the company even appreciate my work?" and searching for an answer to the question leads to searching for a new employer.

How companies can change the evaluation of work

Companies must learn to evaluate employees for results and pay more for higher performance. People need to understand that their income depends on how well they do their job because that's when they will start to put in more effort and take on more tasks.

The upside is that a system with transparent growth suits absolutely everyone. You can pay people more if they complete more tasks, such as bringing in more clients or answering more calls. At the same time, you can pay people more money if they do their work faster without losing quality — for example if the manager launched the project not in three months but in two.

Checklist "How to change the assessment of work"

• Start small — highlight those areas in the company that can be easily automated. If the job does not require expert competencies — or is a repetitive operation — it can be assessed piece by piece. For example, this model makes working with couriers or accountants easy.

  
  

• Deal with those who want horizontal, not vertical, growth. Not all employees want to climb the career ladder, taking on more tasks and responsibilities. Some people like to grow by being able to solve problems or launch projects faster than anyone. Let them strive to do their job quicker and better, and you can pay them for it.

  
  

• Perhaps this will be the most challenging step, but stop treating employees as if they were your own property. If a person copes with the plan and does not want to take on more paid tasks in your company, you should allow them to take on side projects and side jobs. Many people always seek growth opportunities.

  
  

• Notice those who recycle on their own or someone else's will. If they successfully cope with significant amounts of work, reward them. For example, you can say, "We see that you have worked hard and created a whole process. Maybe you need to add a new position, pay more, and maybe you need an intern." Remember to treat your employees ethically.

If you load an employee with tasks but don't understand what kind of return they bring, then someone must have been deceived, either the employee by you or vice versa. Perhaps they do nothing and keep getting paid, or you overload them with work without appreciating them.