How We Reward Work
The "Great Resignation" has brought renewed focus to the terms and conditions under which we work. In general we all seek an optimum balance across 4 dimensions of reward when choosing where to work:
1. Financial Compensation
2. Quality of Leadership/Management
3. Quality of Work
4. Quality of Work Environment
As employers we much choose what balance we wish to offer, knowing that it is impractical to try and be above average on all the dimensions. The last two years have substantially damaged many historical strengths. Meanwhile mobile/remote work has altered the rubric upon which we evaluate this equation in our great "reevaluation".
In many cases the "Quality of Work" has deteriorated as we the lose context and significance of our contributions. When we cannot see the "whites of the eyes" of our colleagues and clients, it is much harder to appreciate our own contributions.
We are social creatures (even the most introverted of us appreciate some level of social interaction), and in the sterile Zoom/Teams works, we lose the subtle, perhaps mundane, but important relational moments that create the sense of connection that leaders feed on. Our experience with "Leadership/Management" suffers accordingly.
Working from home (or the beach) does have it's perks. The proximity to other aspects of our life can be life changing for parents, employees with long commutes, etc. But proximity also means the lines between work and life which are challenged by technology also become blurry in our physical environment. Worse, most of us find ourselves working at home in a physical space we never planned to spend our work hours in. For many, this is far from the optimum "Work Environment".
With so many headwinds to our non-financial rewards, it is no wonder many seek better pay, a new role/organization, or simply "take a break". For leaders and organizations, it is a unique opportunity to rethink the reward structure we offer, what compromises we are more willing to make (and NOT make), and to share our philosophy towards employee rewards. The future looks different, but leadership is about embracing our context and making the most of it for the people around us.