How to Maximize Your Employee Loyalty

Employees are the life and blood of a company; without them the company is just an empty shell. So, one would assume that the company would go out of its way to take care of them or that they would be treated as royalty, right?! Unfortunately, that is not always the case. Companies often forget to take care of their employees, just like we often forget to take care of our bodies.

Most of the time, companies tend to be more focused on their product and their customers. Companies often assume that the employees would be happy, if they are getting their salaries and the company’s product is selling, which translates into profit for the company. However, that is not the case. Employees, like all humans are very selfish and care only for themselves. If the company wants the employees to care about them, then they must foster loyalty within the employee.

According to research conducted by Bain & Company, an average company loses 20-50% of its employee base every year. While the reasons for the loss of the employee may vary, it can be said that the underlying factor is that the employees weren’t loyal enough to the company. However, as the cost for replacing a lost employee is over 150% of that person’s annual salary (Columbia University), then it would make sense that the company would like to retain the employees, rather than keep replacing them.

When an employee feels loyal to a company, he tends to work harder and gives it his all. So, in addition to decreasing turnover costs, employee loyalty can also help boost productivity, increase efficiency, and provide a much more stable work environment for everyone. Here are some ways to help foster employee loyalty in your firm:

  1. Ensure that the employee cares about his job

If an employee feels like his job is important then he will work harder at it, as opposed to just working for a paycheck. If he is just working for a paycheck, he will be apathetic and give his bare minimum. However, if he enjoys his job then he is more likely to do it for the satisfaction. If he is satisfied, then he is less likely to leave.

  1. Help employees see the big picture

Ensure that the employee knows what his role is in the company. If he knows what he is supposed to do, and how that fits into the grander scheme of things, then they will feel as if they are contributing to something. If they feel that their work is important, then they will feel a sense of purpose, which will keep them satisfied longer than just a paycheck.

  1. Provide training and mentorship

Providing training and mentorship shows that the company is invested in the employee. If the employee improves, so does the company. Ensure that all the employees are trained and that their training is up-do-date. This will ensure that no one feels left behind. Also, provide mentoring programs, which will give the employees’ a father figure, whose job would be to encourage the employees.

  1. Recognize and encourage employee contributions

Receiving recognition from a supervisor instills a sense of meaningful righteousness within the employee. Recognition justifies the work that the employee had put in, and if he feels that his work did not go unnoticed, then he is more likely to continue putting in hard work. Furthermore, encouraging an employee to continue his hard work shows him that the company values his efforts and appreciates him as an employee. An appreciated employee is less likely to leave his organization and take a chance of joining somewhere, where he may not be appreciated.

  1. Improve Company Culture

A comfortable company culture cultivates a sense of brotherhood and family. While, there will always be cases of sibling rivalry, there should also be a nurturing and helping environment, where people can grow and develop. Despite the fights and disagreements, we love our family and don’t want to leave them; that is how an employee should feel about their company.

  1. Provide food

Surprisingly providing food to employees fosters a sense of family. According to anthropologists, eating together facilitates group membership and creates a bond between the members. So, companies can and should provide food at company meetings, celebrate company successes with food, celebrate holidays with food, or even have communal lunch hours. As they say, ‘people, who eat together, stay together.’

  1. Respect employee's needs for balance in work and life

Even though we are trying to make the company into a family, do not forget that employees do have real families. They have needs and responsibilities towards their families, and would probably want to spend time with them; respect that. Allow the employees to have a home life as well as a work life. Employees should not feel that they are being required to sacrifice their families for their job, if they do, they are likely to drop everything and run back to their families, forever.

While a paycheck is most often the most motivating factor of a job, at times it just may not be enough. There are a number of people out there who are willing to accept a job with less pay, if it gives them more satisfaction. If in these cases, the company banks on the employee to stick around for the pay alone, then they risk loosing him. So, the company must instead bank on the loyalty that the employee feels for the company and hope that he wouldn’t desert the ship.

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