Are your employees loyal? Are they engaged and producing the best work possible? As a manager or CEO of an organization, it’s important to hire the right kind of people the give their best effort and work towards the organization, and most importantly, will want to stay with your organization for the long term.
When it comes to employee loyalty, companies must utilize effective methods to increase morale and integrity in the workplace. Below are three ways that increase employee loyalty.
1. Performance Recognition
Human beings desire praise. A recent Gallup Analysis found after evaluating 10,000+ businesses in 30+ industries, those who receive regular praise: “...increase engagement among their colleagues...are more likely to stay with their organization...[and] receive higher loyalty and satisfaction scores from customers” (Rath and O. Clifton, How Full Is Your Bucket?).
It is imperative that performance recognition is done appropriately and accurately. Laying down quantifiable guidelines is the best way to set the bar for rewardable (i.e., an employee closes 5 deals in the month of January and automatically receive a $250 bonus). It is illogical to reward employees at random.
Also, take the time to listen to what your employees have to say. Take note when individuals speak up in meetings, provide novel ideas, or go out of their way to please customers. Even a thank you note goes a long way.
You can also get creative! Swap desks with an employee who exceeded expectations for a day, bring in breakfast, or give them a day off. Not creative? Not to worry, there’s an app for that. Through apps such as YouEarnedIt employees applaud others for exceptional service. Later on, these employees can earn real-life prizes like gift cards from being recognized by their peers.
2. Better Training and Better Tools
Morale can suffer when cutting training budget corners. If employees are not provided the proper tools to perform, they may feel their company is not proactive about helping them - or their customers. According to a poll by Louis Harris & Associates, employees who feel their job offers sufficient training are less likely to leave within one year compared to employees who had insufficient training (Howard Community College, Maryland).
Management involvement in training helps set successful companies apart. Training newly hired employees sets the standard for workplace morale, and determines whether or not employees remains loyal. Chad Halvorson explains, “One of the most common [origins] of employee frustration is not having adequate training...” (10 Steps to Increasing Employee Loyalty). Loosely trained employees may encounter a problem they lack the tools or resources to solve. This causes loss of self-esteem. If management demonstrates that providing adequate training and resources is a priority, employees can provide better service and stay loyal to their company.
3. Provide a Career Path
Providing a career path goes hand-in-hand with enhanced training. Talking openly with employees about their path makes them feel developing skills within the company is worth it.
A 2012 Deloitte survey found the largest factor in employees wanting to leave their job in their first year was the lacking of a clear career path. This shows that, rather than pay (as some may believe), career development plans are necessary for employees to want to stay with their company.
Providing a career path for an employee requires management meeting with and listening to their career goals. You may prefer an employee for one department, but that individual may have their heart set elsewhere. Meet with the individual and take detailed notes. Once you do, develop a comprehensive, specific plan. If you want to go one step further, sign the document and turn into HR so the employee understands you want to help them achieve their career goals.