Businesses spend an enormous amount of money encouraging loyal customers, yet relatively few do the same for their employees. But in this day and age, it’s never been more important to encourage talent to stick around, and stop them from being tempted by the competition. The major issue for employers is - how can you encourage a loyal workforce, keep attracting top talent, and keep them for many years into the future? Let’s take a look at some of your options.
Understand the facts
While employee loyalty is desirable, the simple truth is that not everyone will stick with you forever. Everyone has different needs and goals, and putting an employee engagement plan in place will take some collateral damage. But the point is, by providing your staff with opportunities for progression, innovation, and a great career, you will manage to hold on to the right people for your business.
Be the instigator
There are some employers out there who might be thinking they would be happy to see higher levels of employee loyalty but aren’t prepared to do anything about it. But the simple truth is that unless you lead the way, you can’t expect your staff to go above and beyond. There is an element of reciprocation, here, of course, but make no mistake about it - you have to be the instigator. And how, exactly, are you going to do this? Let’s take a look at a few options.
Open up lines of communication
The first - and most important - thing you can do is start opening lines of communication with your employees. Open door policies, regular performance meetings, innovation and ideas sessions - they can all work to help your workforce feel wanted, appreciated, and motivated. And the result of that, of course, is a more engaged, capable, and loyal team of employees.
Encouraging your employees to take ownership of their work can have fantastic results. This type of intrapreneurship in corporate culture and startups works because employees feel like their ideas are listened to and respected. It also helps develop a culture where employees become less afraid of failure, and keener to embrace innovation.
Help people thrive
Talented people want to progress and need education and challenges to do so. So, give them the opportunity to improve themselves, and they will respond in the appropriate way, by being more loyal and appreciative of what you are doing for them. Employers that fail to offer training to their ambitious staff members will soon regret it, the very second that those talented individuals pick up contracts with their industry rivals.
Enjoy the results
Ultimately, employers aren’t just encouraging workforce loyalty out of the kindness of their hearts. A lot of research suggests that companies that have the highest levels of employee loyalty also enjoy a higher rate of profitability. Even the likes of Ebenezer Scrooge might feel differently about his treatment of employees after finding that out.
Hope you enjoyed this brief rundown on workforce loyalty - let me know your thoughts in the comments section below.