Any great business knows that the long-term success of any company is heavily dependent on worker quality and worker loyalty. As hard as it is to measure the full value of quality workers, we all know that whom you hire is very important. The economic cost of workers is staggering: they influence not only the hard numbers regarding a company’s profit - but also things that are hard to quantify like customer relations and customer satisfaction.
So what’s the trick to finding and inspiring a loyal employee that gives 150% into their work instead of an employee that works for a paycheck? Individual attention and flexibility largely influence loyalty, so here are five techniques that can help affect employee loyalty:
BE AN INSPIRATIONAL LEADER
Be an inspirational leader. As a manager, show your passion and commitment to serving your team. This can be done by communicating the goals that you set as a team, pitch it as a bold and specific vision with plenty of energy and excitement. In return, your employees will feel a sense of purpose behind their work which can influence their productivity and efficiency. Praise and encourage your employees' hard work; they deserve it!
PAY THE RIGHT KIND OF ATTENTION TO YOUR EMPLOYEES
Pay the right kind of attention to your employees. As in, don't micromanage your staff - that can hinder their performance. Instead, allow engagement between you and your employees; create an understanding of each other and get to know their interests and challenges inside and outside the workplace. You are now equipped with a powerful tool to help encourage and influence your employees to work at their best capacity. Cultivating care for your employees creates appreciation and loyalty in return.
PROVIDE OPPORTUNITIES FOR EMPLOYEES TO DEVELOP THEIR SKILLS AND ABILITIES
Doing the same mundane tasks on a daily basis is not stimulating - and quite dreadful. As you can imagine, this can discourage employees. There are many ways to keep their workday exciting; start by assigning them challenging, new tasks. Your employees want to learn and grow, show them that you trust their abilities. A Mercer study shows that 78% of employees would stay with their employer if they felt they had a promising career path and not just a job. Providing employees with opportunities will empower their career aspirations while also showing your appreciation and respect to your employees which can influence a sense of self-value for the company that they work for.
An employee that is not being challenged or not feeling appreciated from their employer is more likely to move on to another possible career, which can cost a company more than just a filled position; potential talent is lost along with the time and money invested into a whole new hiring process to fill that position. Check out our How To Retain Staff When Your Top Talent Is Leaving for some methods to combat this workplace situation.
CREATE A WORK CULTURE BASED AROUND YOUR EMPLOYEES
People spend most of their lives working, so why not mold your company's workspace in a way that can benefit your employees? You can start by encouraging a high-energy environment. A great way to do this is to create a fun work culture. Your employees know that they are there to work, but it's important to allow them to enjoy working for you. Help them blow off some steam by having a company sporting event or treat them to a catered luncheon.
Another approach to enhance work culture is to foster effective communication. Communication is essential in any workplace as it creates more room for suggestions and criticisms. Open communication may also influence work relationships among your employees, allowing them to understand each other more personally.
RECOGNIZE YOUR EMPLOYEES
This is easily the best way to inspire loyalty from your employees. A small “Thank you” can go along way, be it through a thank-you card or via email. Express your appreciation with detail to show that you paid close attention to their efforts. A company should recognize victories, as it will positively reinforce your employees with their efforts and behavior. Need some ideas to recognize your employees? Here's a list of ideas to do just that!
Loyal employees are the key to workplace success; however, obtaining and maintaining loyal employees tend to be a continuous challenge for employers. As difficult as it is to build employee loyalty, it's worth investing energy and time to create that loyalty. Check out our list of 9 Ways To Manage High Turnover for more ideas on how to manage high turnover at your company.