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Loyal employees are essential to the long-term success of any business. They are engaged with your company, their colleagues and their work and are motivated to see your business grow and prosper. Yet, 85% of employees worldwide do not feel engaged in the workplace and that is a problem.
Disengaged employees do not deliver the same standard of excellence as those who are highly motivated and can be damaging to customer relationships. They are also much more likely to be hunting for a new job. Although it is tempting to think that shedding disengaged employees from your company will lead to an improvement in company performance, this is not necessarily true.
Employee turnover is costly, both financially and culturally. Hiring and training a new employee can cost more than their annual salary and over 60% of employers find it harder to retain their employees than hire them. High turnover also adds additional stress on your remaining employees as their workloads increase and company culture declines. In contrast, when employee turnover is low, it has a positive impact on company culture. Workers can get to know one another, and they can establish a great operational workflow that increases productivity and efficiency that a constant turnover of staff would make almost impossible to achieve.
Employees who are happy in their roles will work harder and smarter. Here are some top tips to help you drive employee loyalty within your business so that you can maintain a strong and productive team.
Hire the Right Talent
It’s important to find employees who share the same values as your business. When your employees feel like they are a key part of a company-wide vision that is aligned with their personal outlook, they will be more determined to help the company succeed. They will also be more likely to remain working for your business.
When recruiting, be clear about what your company values are, and why they are an important part of your organization’s success. This will give potential candidates the opportunity to assess whether they think they are a good fit for your culture. During the interview process, in addition to skills and experience, include questions that allow candidates to demonstrate not just their knowledge of your corporate values but how they would respond to hypothetical situations in order to determine if they are a good fit for your culture. Consider whether they would easily integrate into your existing workforce and company culture. You want to hire individuals who will enhance your existing team, not disrupt it
Goal setting is an important aspect of any business. It’s what keeps your team motivated and inspired to continue working hard. Establishing team goals also helps to build a strong company culture where every employee is working together to achieve the same targets.
Individual goals that are transparent, shared and clearly ladder up to company-wide objectives are easier to action on and more motivating to fulfill. Secondly, ensure that your employees play a role in setting their work goals. This allows each employee to think realistically and strategically about the jobs they do and how they contribute to the overall success of your company. Employees who feel that their work is valuable are more likely to be engaged and meaningful members of their teams.
Provide Incentives and Rewards
Employees who feel appreciated by their employer and see that their hard work is recognized are more likely to remain loyal to the company they work for, and they are more likely to succeed within their roles. Showing gratitude, saying thank you, and offering benefits to those who are displaying hard work is important to boost employee loyalty.
Businesses are looking for employee loyalty. It is equally important to show your loyalty to your employees by investing in the health and wellbeing of your workforce. Employees who feel well physically and mentally perform at their best and contribute to an engaged company culture.
Ready to invest in a holistic wellbeing solution to see happier and more productive employees? Book your discovery call today to see how Sprout At Work can move the wellness needle in your organization.