Cultivating employee loyalty is a crucial aspect of building a business. Without loyal employees, companies experience high turnover and are constantly having to train new staff to fill vacant positions. Companies like Braidy Industries are offering perks and incentives to their employees in order to foster a sense of loyalty. These innovations often help make life easier for employees, making it more likely that they will stay in their positions.
Here are 10 ways for any company to build loyalty among their employees.
1. Treat Employees with Respect
Respecting employees’ intelligence is unfortunately overlooked by many companies. When employees are respected, resentment toward the company does not have the chance to grow. Resentful workers will never be loyal.
2. Offer Special Perks
Programs like on-site daycare and fitness centers make employees’ daily routines easier, and they are great ways to encourage loyalty. These programs may seem expensive, but instituting them will help to retain employees, cutting down on the high cost of turnover.
3. Thank Employees
Workers who feel unappreciated are less likely to stay in their jobs. Whether it is a simple “thank you” for a job well done or a catered lunch for high-performing workers, saying thank you will have a positive influence on employee loyalty and foster strong relationships.
4. Offer Opportunities for Advancement
When people see a path forward to a higher-paying job, they are more likely to stay with their current employer. Anyone who feels like they are in a dead-end job may jump ship. Be sure that there are clear ways for employees to advance within the company if you want to keep them.
5. Foster a Positive Workplace
A positive attitude starts with the supervisor. When the boss is upset or angry, the feeling spreads to everyone. Starting the day with a smile on your face sets a good example and may help the whole staff be happier and more productive.
6. Take an Interest in Employees’ Career Paths
This may seem too easy, but it is important that employers know what their workers have planned in their careers. It may be possible to steer them away from looking for other jobs. It is important to be upfront and honest with employees when you are considering their future.
7. Give them Milestones That Make Sense
When you sit down with each employee, set career benchmarks and milestones that are sensible and achievable. Pushing employees too far, too fast may lead to problems. Encourage your best employees to set the bar high.
8. Listen to Feedback
Be open to feedback from your workers. If they feel that you are tone-deaf and not listening, they may be likely to look elsewhere for work. Take their feedback seriously. A Gallup study found that managers who built trusting relationships with their workers are 48% more profitable.
9. Loyalty Doesn’t Mean Length of Employment
When looking for a loyal employee, it is important to remember that loyalty and length of employment do not necessarily go hand-in-hand. A worker who contributes in a meaningful way but has only been in the job for six months is more valuable than a twenty-year employee who is just going through the motions. It is true that institutional memory is important, but it is crucial to foster the newer employee’s loyalty.
10. Understand How Loyalty Is Changing
Today’s employees, particularly millennials, have a different approach to company loyalty. They believe that if they have fulfilled their job responsibilities well, they are loyal to the company. If they find an opportunity to move elsewhere that is more in line with their personal goals, they will leave. It may not be enough to encourage them to climb the corporate ladder.
For these employees, it might be best to know your competitors in terms of their job searches and to show how your company is a better fit.
Keeping Loyal Employees
Braidy Industries understands how to make workers happy, engaged, and ready to stay in their jobs for the long term. Understand what makes an employee loyal and what may cause them to lose these feelings. With these ten strategies, you will be better able to manage your workforce and to keep them around for the future.
