Why Employee Loyalty Is Important
Many organization’s believe their employees are automatically loyal to them because they are getting a regular paycheck. However, this is far from the case. In her book, The Future of Leadership: Rise of Automation, Robotics and Artificial Intelligence, Brigette Hyacinth stated that 88% of employees who quit their job did so for something other than money. Reinforcing this, Dale Carnegie’s Leadership Study indicated that the number one reason 41% of the global workforce changed jobs in 2016 was due to poor management. How employees are treated plays a huge role in their loyalty to an organization, and having loyal employees plays a huge role in an organization’s success.
Have A Strategy
In today’s workforce, it is very important to have a strategy for maintaining top talent. Hyacinth explains that competitors are waiting at the door with “treats” to lure away top performers from other organizations. If employees are not treated properly at their current job, then they won’t hesitate to go somewhere else where they are. Treating employees well not only creates employee loyalty, but it also improves employee satisfaction and productivity. This is a win-win for both the organization and the employees.
Tips for Creating and Maintaining Employee Loyalty
- Respect their need for work/life balance and don’t intrude on personal time at home.
- Create opportunities for growth and development, so employees always have the ability to do the work that inspires them.
- Reward good work with recognition and showing appreciation.
- Trust employees and give them autonomy and breathing space to get their work done.
- Provide adequate training and support to demonstrate your commitment to employees in terms of personal and professional growth.
- Offer benefits that are specific to employee needs.
Overall, focus on building quality relationships and creating a culture that promotes open communication, fairness, teamwork, camaraderie and a family atmosphere. Loyalty is a two-way street, so in order to earn employee loyalty you must be loyal too, and invest in your employees.
Click here to read Hyacinth’s full article!