Employees are the bedrock of every organisation and are largely responsible for business success. However, many organisations lose their best hands due to the inability of leaders and senior management to appreciate and value them.
Ultimately, this leaves employees disengaged and dissatisfied – factors contributing to employee loyalty. While committed employees go above and beyond to deliver results that impact business growth, there's an evident lack of motivation and interest when you don't appreciate them or show you want the best for them.
Fostering employee loyalty is not without its challenges. At a time when employees change jobs frequently and voluntarily, as a business leader, you must develop a work environment where loyalty is factored.
In this deck, you'll uncover five (5) effective tips to foster or improve employee loyalty in your organisation.
You'll also learn
• The key factors that contribute to Employee Loyalty
• The Impact of Employee Loyalty on Business Success
• How you can measure Employee Loyalty in your organisation.
2. “
Loyal employees in any
company create loyal
customers, who in turn create
happy shareholders.
Richard Branson
3. When employees are committed to
your organisation, they’re more likely
to do their jobs well and remain with
the company for the long-term —
which makes them extremely valuable
to your organisation’s success.
Click here to read: Preparing for the Future: Succession Planning Guide in Times of Change
4. Employee loyalty and retention go
hand in hand.
As a leader, your relationship with
your employees or teams is meant
to be mutually beneficial.
However, according to Harvard
Business Review, the balance
between the two is weakening.
5. Although measuring employee loyalty can be tricky,
it's easy to identify its impact on your business.
It’s also important to know how much loyalty you
have from your employees to enable you take
necessary steps to prevent a decline.
Low employee loyalty can affect your business
growth and impact your people who are working
hard to drive business success.
6. What is
Employee Loyalty?
Employee loyalty is the extent to which your employees are committed and involved
with your organisation, its vision, mission, and culture.
Loyal employees are often driven to exceed expectations, show extra initiative, and
advocate for the business’ success.
7. Factors that contribute to Employee Loyalty
Company
Loyalty
Employee
Satisfaction
Employee
Engagement
This is the degree to which
employees have positive
feelings about you as their
employer.
Company loyalty is high when
you compensate employees
well and offer adequate
benefits.
This correlates with employee’s
performance levels in their job
roles.
When your employees are
satisfied, they sufficiently
challenges by their work and
compensation.
Employee engagement is the
extent to which employees are
involved with day-to-day work
activities.
When employees are highly
engaged, they tend to be more
creative, innovative and have
higher job satisfaction.
Read more: Cracking The Workplace Innovation Code Deck
8. 5 Tips for Fostering Employee Loyalty
Conduct Stay
Interviews
Recognise and
Reward Employee
Contributions
Ensure open and
transparent
communication
Offer Work-Life
Balance
Initiatives
Invest in
Professional
Development
Employee
Loyalty
9. Create an environment where there’s two way
communication between leaders and
employees. Provide constructive feedback
and, address employee concerns promptly
and encourage open dialogue.
Ensure Open and
Transparent
Communication
Employee
Loyalty
5 Tips for Fostering Employee Loyalty
10. Commit to your employees’ career growth
and development by investing in ongoing
training and development opportunities.
also provide a clear path for career
progression.
Employee
Loyalty
5 Tips for Fostering Employee Loyalty
Invest in Professional
Development
Read more: Internal Recruitment: How to Pick the Right Employee for Internal Vacancies
11. The importance of work-life balance
cannot be overstated. Implement
initiatives that support it such as remote
work option, flexible work hours, etc.
Employee
Loyalty
5 Tips for Fostering Employee Loyalty
Offer Work-Life Balance
Initiatives
12. Beyond providing a positive work environment,
recognizing and rewarding employees also
increase employee loyalty.
To do this, offer career advancement
opportunities, cash rewards, public praise and
incentive programmes
Employee
Loyalty
5 Tips for Fostering Employee Loyalty
Recognise and Reward
Employee Contributions
13. Many organisations conduct exit interviews
where they ask employees about their
experience as they leave. Find out what team
members like and dislike about their jobs and
what they would look for in a new job.
Employee
Loyalty
5 Tips for Fostering Employee Loyalty
Conduct Stay Interviews
Read more: What is Employee Retention? 12 Effective Strategies for Your Organisation
14. Employee loyalty plays a key role in the success of
organisations as loyal employees are more likely to stay long-
term, driving productivity and business growth significantly.
Your organisation’s success also hinges on your ability to
sustain high employee satisfaction levels and create a culture
where employees feel valued and supported.
A strong workplace culture keeps employees engaged and
committed to your organisation. This includes providing
professional growth opportunities, recognizing employees
and creating an open feedback culture.
Importance of Employee
Loyalty in Business Success
15. Run Surveys
Regularly run employee engagement and satisfaction surveys to help you
understand how motivated your people are and how they feel working for you.
Calculate Employee Net Promoter Score (eNPS)
eNPS is an effective metric for measuring employee loyalty that measures
employee feedback to a simple question: “How likely are you to recommend our
organisation to others?”
Have One-on-One Meetings
Promote an environment where employees are comfortable having one-on-one
conversations with their team leads, supervisors and managers.
The results of the work are displayed
How to Measure Employee Loyalty
16. Employee loyalty do not happen overnight. You can only build employee
loyalty when you consistently make your employees a priority.
At Workforce Group, we can help you develop tailor-made solutions to help
your managers and leaders develop skills to foster employee loyalty and
commitment.
Our in-company training programmes can also offer your team recognised
qualifications that demonstrate your investment in their future with you.
Get in touch with us today, let’s help you increase your employee loyalty.
Reach out to us by sending an email to hello@workforcegroup.com.
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