Return to the Office and the Great Resignation

February 10, 2022

As we find ourselves nearly two-years into the COVID-19 pandemic, I can’t help but reflect on the many challenges our portfolio company leaders have faced since March of 2020: pivoting to a work-from-home (WFH) model; managing growth expectations in a virtual environment; and perhaps the biggest challenge, retaining team members in the face of the “Great Resignation.” To say it’s been a difficult two years would be an understatement.

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There seems to be light at the end of the tunnel, however, and some (most?) leaders are developing “return to office” (RTO) strategies for employees. In our discussions across the portfolio, we see four models emerging:

1. Fully-remote
2. Remote-first, with the option to go into the office
3. Office-first, with flexibility to work remote
4. Fully in office

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While the leaders I speak with are considering many factors before making their decision, I hear one common and consistent question: “Which model will allow me to retain employees in the face of an historically challenging and dynamic labor market?”

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At Summit, our Peak Performance Group (PPG) has been working closely with portfolio company leaders to identify root causes for churn within their respective organizations. As part of that work, I want to highlight two recent articles from the McKinsey Quarterly I found  particularly insightful – and relevant for veterans. The first provides strategies for mitigating churn and the second, related article details the similarities between returning from the pandemic and returning from military deployment. Both contain a number of helpful perspectives, but three takeaways stood out for me:

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• Inclusion: Just like any problem, you can’t fix what you don’t understand. By including employees in your process of choosing an RTO model, you’ll likely identify a disconnect between what leadership thinks is important and where employees’ find value. Leaders must understand what their team members are looking for in an RTO model and base any ultimate decision on one that minimizes the likelihood of good people leaving the organization.
• Awareness: Having experienced redeployment first-hand, I can attest to the time the military invests preparing soldiers for their return to the U.S.  Military leaders—usually a chaplain—speak openly about how things will feel different: “You’ll be happy to be home but will likely feel you don’t fit in.” In many ways, the same can be said about employees’ RTO; it’s important that leaders openly communicate during the transition that feeling different is normal.
• Patience: Prior to redeployment, the military invests as much time preparing military leaders and families as they do soldiers. The message is similar to all parties, but included in the message to leaders and families is a plea for patience. Not all soldiers deal with the challenge of redeployment in the same manner; leaders and families need to be patient. As leaders of growth companies, you will need to exercise similar patience with team members in the early days of any RTO.

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In closing, I’ll highlight one additional takeaway: veterans can help with RTO and, ultimately, mitigate the impact of the Great Resignation on your company. Given the pace with which the military has deployed overseas in the last 20 years, odds are that the veterans in your organization have redeployed several times. Including these individuals in your RTO process, and relying on them to help with the transition, will help position your company for success.

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Charlie Mike*
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Dave & the Summit Partners Veterans Community

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* “Charlie Mike” is the military phonetic alphabet for the letters C and M which stand for “continue the mission,” a phrase commonly used in tactical situations

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(NOTE: you can help by forwarding this email to veterans within the Summit network so they can join the community and/or our LinkedIn Group)