How to Increase Employee Loyalty

1. How to Increase Employee Loyalty

2. More than 55% employees are seeking for another job while working in a company. Meaning, companies are losing around one third of their employees every year and this calls for some serious understanding on why employee loyalty is reducing to such an extent.

3. Hiring employees for replacement is already a task and it costs 20% of the average salary of the employee being replaced. This is clearly stated in a study conducted by the Centre of American Progress.

4. Discover the 7 golden tips to help you boost business growth merely by increasing employee loyalty

5. Tip 1: Employee loyalty is a term that encompasses the concept that the employees have certain sentiments of belongingness to the current employer and is less likely to see other opportunities as better options for themselves. It is important to keep the positive emotions in the employee intact and remove all the negative emotions that build up the idea of changing their jobs.

6. Tip 2: Salary is one of the biggest reasons why emotions of the employees start turning towards another company. Competent employees want to be paid equivalent to what they would be paid somewhere else as well. Hence, it is important to keep equality between the peers and have a fair salary package.

7. Tip 3: Another way to increase employee loyalty is to hire via reference bonuses, which is a very lucrative way. Hiring with the help of the existing loyal employees is itself being the idea.

8. Tip 4: Merely following orders is not the way companies can function today, it is important that the employees are given the opportunity to put forward their ideas and the managers should not just lead, but work in an inclusive environment listening to all the employees, the ideas and putting them forward in a fair and just manner. The employees should have control, resulting in engagement and empowerment.

9. Tip 5: Uncertainty is not inspired by anyone during jobs. It results in hampering their job security and hence it is important to keep employees away from such emotions by keeping them briefed from time to time, explaining the situation very well. None of us can even control the economy but we can certainly nurture the minds of our employees and keep them stable.

10. Tip 6: Highly negative employees, extremely abusive employees or managers and even bosses can result in changing the attitude of the employee. This may lead to steering up negative emotions ending up in leaving the job. Such people, who create obnoxious environment, shall be warned and if not changed then shall be terminated to maintain a healthy environment in the company.

11. Tip 7: PR activities are very important sometimes, since they help in creating a positive image around the brand and employees love to work in a place that has a good image or a better state. Thus, maintaining this is highly important for companies to retain employee loyalty.

12. Thank You Presented by Mr. Sanjay Singh, Sales Coach