Improve employee loyalty throughout 2012 – and beyond
Budget constraints. Talent shortages. The ebb and flow of the global economy. These are just a few of the coutless issues that employers are facing on a daily basis. Unfortunately, as companies attempt to implement new strategies to succeed in today’s uncertain economic conditions, many tend to forget about one crucial concern that will likely influence their abilities to prosper in the future – employee loyalty.
There once was a time, in the not so distant past, when employees were extremely loyal to their companies. Many workers chose to stay at one company throughout their entire careers, while a majority of employees remained loyal for upwards of 10, 20, or even 30 years.
Such loyalty is now nearly nonexistent and, according to a recent survey conducted by Lee Hecht Harrison, a lack of fair treatment may be the culprit.
When asked, “Do you feel your company treats employees fairly?,” nearly 50 percent of all respondents either stated “sometimes,” “rarely,” or “never,” a shocking finding when one considers the fact that, throughout our nation’s history, a majority of American organizations have been well-regarded for their treatment of employees and for the dependability they received in return.
Upon evaluating the results of the survey, Peter Alcide, president of Lee Hecht Harrison, said, “Employees want to feel valued and appreciated for their contribution in the workplace. If employees don’t feel they are being treated fairly, you can assume they aren’t going to give their best effort.”
He added, “As leaders navigate in this unpredictable environment, they must ask themselves what steps they can take to minimize the effects of uncertainty and ensure their employees feel valued.”
So how can organizations once again improve their employee loyalty levels? How can they ensure their employees feel valued so that they will work to the best of their abilities?
Lee Hecht Harrison believes that nationwide employee loyalty can be vastly improved if organizations focus on the following four goals –
Initiate and Develop. As organizations hire new talent, they must have proper orientation programs established in order to train them, help them become acclimated to company policies, and feel welcomed as a member of the company’s family of employees from day one. By focusing on each individual’s specific talents and career goals, companies can rest assured that new employees will feel connected to and appreciated by their fellow colleagues.
If employees have been on payroll for an extended period of time – at least six months – and are interested in continuing their careers with their present employers, companies should offer top talent an array of opportunities to cultivate their abilities, acquire new skills, and receive regular advancements.
If organizations are not willing to take the time to nurture their most capable employees and prove to them that they have a long-term employment future, some other organization will – and employees will likely be willing to develop their talents elsewhere.
Improve Communications. As technology continues to progress, it seems that face-to-face communication is being replaced with chat rooms, emails, and conference calls within many workplaces. Nevertheless, despite technological developments, a majority of employees still prefer direct communication with their employers, especially if they have questions or concerns regarding pay and benefits, their roles within the company, and the ways in which their efforts are positively impacting their companies as a whole.
To help employees feel appreciated, supervisors should establish weekly or bi-weekly meetings in which employees can ask questions, discuss their career goals, and understand why their positions are highly valued.
Employers must mentor their workers, help them achieve their career goals, and listen to their needs. In doing so, employees will be better prepared to succeed in whichever roles they are offered.
Empower. Far too often, innovative, gifted employees have many unique ideas that could possibly help companies achieve higher profit margins and acquire a larger customer base, but, regrettably, many workers never share their thoughts with their supervisors or company executives.
Some employees may feel uncomfortable with the notion of bringing ideas to their employers. Others may be afraid to offer their suggestions, believing their thoughts will be rejected or even ridiculed, simply because they feel they are treated only as “a number” rather than as a person.
But how can companies change such perceptions? First, they must take the time to listen to their employees’ suggestions and consider how such ideas can improve their companies’ capabilities and expand their bottom lines. They should then allow employees to actually develop their ideas and oversee their own projects themselves. In doing so, employees will become more confident in their own abilities, feel more valued for their efforts, and witness the significance of their concepts firsthand.
Reward and Recognize. As employee morale tends to remain quite low within many organizations, workers should receive as much recognition as possible in order to boost their spirits and motivate them to strive forward.
For some employees, recognition should be offered in the form of extra vacation time, bonuses, or a more uniform work-life balance. For others, a simple “thank you” via a card, an email, or even during a meeting or a casual conversation will improve their drive to succeed within their present companies.
Such recognition should know no boundaries either. By sharing their employees’ achievements with company executives, supervisors can help their employees receive raises or promotions. And by regularly rewarding and recognizing top talent for their hard work and accomplishments, employers will be able to retain and nurture their most valued employees’ talents for years to come.
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