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Employee Loyalty

  • Date Submitted: 06/03/2012 06:16 AM
  • Flesch-Kincaid Score: 46 
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The Top 11 Ways to Increase Your Employee Loyalty
Follow these and enjoy an immediate lift in your employee productivity, retention, and loyalty
By Kyle LaMalfa Loyalty Expert and Allegiance Best Practices Manager

www.allegiance.com 1.801.617.8000

The Top 11 Ways to Increase Your Employee Loyalty

How much do you value your employees?
The lifeblood of every business is its employees. Given this critical fact, you may assume every business has a detailed plan and solid processes in place to ensure employees are engaged. Unfortunately, this is generally not the case. Many companies continue to assume that if they build a good product or offer a good service, and if customers continue to buy those products or services, then employees should be happy. Employers typically do just enough to ensure the majority of employees don’t leave; they train just enough, they offer just enough benefits, and they give just enough positive reinforcement. Is this the right way to approach employee loyalty? Consider these two startling facts: • Each year the average company loses 20-50% of its employee base – Bain & Company • Replacing a lost employee costs 150% of that person’s annual salary – Columbia University Because the cost of replacing employees is so high, and the fact that so many continue to leave, businesses who effectively manage the employee engagement process can turn these facts around, making these burdens a strength. They can realize increased productivity, happier employees who willingly promote the business, and eventually, greater profits and other positive business outcomes. As an employer, you need to understand why your employees are emotionally connected to your business – and it’s generally much more than salaries, training, or benefits. Research shows that emotionally connected employees are the best employees because they are engaged and productive, and they feel validated and appreciated. The opportunity exists for businesses to manage engagement...

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