Four Subtle Ways to Make Employees More Loyal
According to recent surveys, at least half the staff members in the average business are actively looking for other job opportunities.
With results like that, employee loyalty suddenly seems like an antiquated idea. For employers, this reality is made worse by the cost of hiring replacements: Replace the average worker is about 20 percent of the annual salary for that position.
Clearly, employers must work harder than ever to earn the loyalty of their employees. The following steps can help:
Live Your Mission and Values
Staff members are often drawn to the aspirational values of a business. When expressed correctly, a mission statement and company values should inspire and motivate employees to work hard, innovate and buckle down during tough times.
It’s critical to integrate core values into ‘the everyday’ of your company. Doing this promotes trust and lays a strong foundation for greater employee loyalty.
If you’re in a leadership position, you’re capable of seeing the bigger picture better than staff members. Letting your people know what’s happening with frequent updates and good communication makes them feel appreciated and leads to greater loyalty.
When staff members have input in the decision-making process, they’re more likely to feel like a greater sense of ownership – they have a personal stake in its success.
Empowerment should go beyond letting employees add their input here and there. It should also include letting employees make some decisions unilaterally.
When there is a streamlined process in place with simple solutions, your staff members are capable of make decisions by themselves.
When staff members have a feeling of independence, they take more pride in their work and their job situation, including their employer.
Provide More Than a Paycheck
While paying employees competitive wages is important to fostering loyalty, studies show a good paycheck often isn’t enough to keep employees’ eyes from wandering. If your truly want to have loyal employees, you need to provide them with benefits that speak to more than just their wallets. An accommodating sick day policy, flexible work arrangements tuition reimbursement and other benefits acknowledge employees’ need for work-life balance and career growth; and acknowledgement that will be repaid with loyalty.
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At Labor Temps, we fully support all the employee engagement initiatives of our clients. If your organization is currently looking for a talent acquisition partner, please contact us today to talented employees who will immediately add value to your company!