Many companies are committed to delivering customer satisfaction and building customer loyalty, but what about employee loyalty?
In today’s market, it’s becoming increasingly important that companies create a working environment that promotes employee loyalty. After all, when your staff are loyal, they are more likely to care about the company, perform to the highest standard, and, ultimately, stick around.
But which factors influence employee loyalty?
It goes without saying that employees with a high level of job satisfaction are more likely to be loyal. If an employee feels happy and content within their role, they will typically feel loyal to the company, speak positively about it, and go above and beyond to perform to the highest level.
Appreciation and respect
Loyalty is a two way street. If you want your employees to be loyal to your business, it’s important that your business shows loyalty to them in return.
Your employees need to know that their roles are relatively secure, that they are valued, and that you view them as much more than a replaceable commodity. Recognise the value that each employee brings to the team and the individual role they play in the organisation, provide regular encouragement and feedback, and thank your staff for their work.
Opportunities and development
Training and development is a key factor in employee loyalty.
Training ensures that your staff have the skills, knowledge and resources to do their job, and do it well. Scheduling regular training sessions for your employees, or giving them the opportunity to choose and attend a set number of training courses each year, will not only expand their skillset, but will also reinforce that they are valued by the company, and that you want them to stay.
Opportunities for training and development also help ensure that your employees see a future for themselves within the organisation.
No matter how engaged, inspired and appreciated an employee feels, money always plays a role. After all, that’s what allows them to sustain their personal lifestyle and manage their responsibilities outside the workplace.
As a result, ensuring that employees are well and fairly compensated for their time and work plays a significant role in employee loyalty. Of course, that’s not to say that you can buy employee satisfaction or loyalty, but offering good pay and benefits will certainly help you get there.
The value of loyal employees should never be underestimated – they are one of your most precious assets and should be treated as such. At Oculus HR, we can help ensure that your policies, procedures, and culture foster a high level of employee loyalty. Get in touch to find out more!