Company Loyalty is a Two-Way Street
Dear Jenny,
I’m a manager at a large corporation and we are debating sending out a survey to our employees to gauge our company loyalty. Is there anything specific that we can do to improve loyalty?
Signed,
Concerned C-Level
Dear Concerned C-Level,
Good for you for wanting to improve loyalty in your company. It’s easy to ask for loyalty. It’s also easy to earn it. The key is something that most managers overlook.
According to new research of more than 600 US businesses with 50-500 employees, 63.3% of companies say retaining employees is actually harder than hiring them.
This is especially interesting when you consider that 71% of executives say that employee engagement is critical to their company’s success. This stat is courtesy of FastTrack360.
So, we take all of this information, and we can see that there is a huge disconnect happening. Luckily for you, I have the answer.
When was the last time you told and showed your employees you’re grateful for them?
There’s a common mentality that someone should be glad they have a job, but companies often forget that without their employees, there would be no company.
Start with random notes or compliments. If a team member really nailed a project, let them know. Send them a quick email or message. Let them know that you have noticed their work and it’s appreciated.
Does your company do all-hands (company-wide) meetings? They should (this is a subject for another blog), and you should have time dedicated to team member recognition. You’ll see your employees glow and feel proud of their work.
Here’s another tip – encourage your employees to celebrate each other. Work on creating a culture where it’s the norm to give people kudos for a job well done. If you have an IM system like Slack or MS Teams, create a channel that is strictly dedicated to giving shout outs. Fill it with GIFs, emojis, and celebrate amazing work.
In addition to recognition, create a really cool work environment. Ping pong tables, happy hours, and bring your pet to work days won’t solve all of your issues, but it will make your employees feel like they’re working at a company that gives a damn about their happiness.
So what’s the moral of the story? Give what you want to get. Loyalty is a two-way street. By creating an environment and culture where employees feel appreciated and recognized, they’ll have a much harder time leaving. Plus, you can expect to see some impressive numbers on any loyalty survey you might be sending out.
Sincerely,
Jenny