The company’s most recent piece adds weight to its series of previous reports, which contend that fair and collaborative compensation is missing from many workplaces. It also explains why the team set salaries (TSS) tool Percival.live is a modern solution.
More details can be found at: https://www.percival.live/blog
As the new report explains, Percival’s collaborative compensation platform not only creates salaries that are fair but also that employees will perceive as being fair. The company suggests that this can result in a more satisfied workforce, helping to avert the widespread resignations seen this year.
Also known as the Big Quit, the Great Resignation refers to a recent trend that has seen significant numbers leaving their jobs. According to the US Bureau of Labor Statistics, 4 million Americans resigned from their positions in July 2021, and a further 4.4 million quit in September.
Interestingly, the largest number of voluntary departures came from the 30-45-year-old age group. The author of Percival’s new report states that several things can be inferred from this statistic. Most notably, it suggests that many employees feel exploited, and that dissatisfaction among the workforce has been growing for some time.
In the first instance, the company reports that payment of fair salaries will help to avoid many of these concerns. Given that each industry has its own, unique demands, it also suggests that a collaborative tool such as its own Percival.live can be more versatile.
Applying the concept of team set salaries, the Percival.live platform is a next-generation compensation process that allows team members to submit individual performance appraisals. A sophisticated algorithm then apportions the available budget accordingly. The tool includes a straightforward UI, and the company states that a first round of appraisals could be completed in as little as 15 minutes.
A company representative stated: “Percival is the only tool that produces a fair, actionable result with the percentage of the compensation pie that each person deserves, in the team’s collective opinion. The evaluation is made in a collaborative way so results are not only fair but perceived as fair.”
Interested parties can learn more by visiting: https://www.percival.live/blog
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