What 5 strategies drive employee loyalty?
"Employee loyalty is at a seven year low."
- MetLife 10th annual employee survey
Do you feel your employees are loyal to you and your organization?
Do you know the strategies to EARN their loyalty?
People Profits Principle #9
Five of the top six elements of employee satisfaction
are ORGANIZATIONALLY driven
The reasons cited for this lack of loyalty are:
- Previous layoff criteria which focused on MAXIMIZING PAYROLL SAVINGS
- VAGUE CAREER PATHS which lack a motivating driver
- A long term REDUCTION in BENEFITS and TRAINING
- Supervisors who DEMAND PERSONAL not organizational loyalty
- Millennials who have an expectation of HAVING MANY JOBS
Loyalty and engagement can not be bought - it is earned
A loyal relationship will have these 4 criteria:
- A MUTUALLY RESPECTFUL interaction
- Both parties COMMUNICATE even the BAD ISSUES
- Neither party BROADCASTS DISAGREEMENTS
- Both want THE OTHER ONE to be SUCCESSFUL
Communication is the key
What can you do to build loyalty in your organization?
- Keep the four ABOVE CRITERIA in mind and in action
- Show PERSONAL INTEGRITY at all times even when it is difficult
- Do NOT SHOW FAVORITISM - explain why someone got that promotion
- Appropriate TRANSPARENCY - showing frustration is good, anger is bad
- GIVE CREDIT to employees liberally - even if it was your idea
How much easier would life be if everyone was loyal to each other?
People Profits case study: An international service company had a major problem with employee loyalty. After review it became obvious that the problem stemmed from supervisors who were promising employees raises and promotions - which never happened. We immediately topped that practice and instituted a compensation plan which included raises based on employees meeting concrete objectives. Simply the employee attained the milestone - they received a raise. There were many other strategies, systems and processes which were also instituted. Altogether loyalty and engagement soared.
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