Five ways to earn employee loyalty
Have a seat, business executives, and listen to one of the more eye-opening stats I've seen in a long time: More than 60 percent of employees surveyed in a recent Salary.com poll said they plan to look for a new job within the next three months.
Combine that with the current staffing shortages that have infected the profession, and you have a couple of compelling reasons to increase the loyalty of your employees.
The timing couldn't be better for "Five ways to earn employee loyalty," a new article from the MACPA and the American Institute of CPAs. Here's a Reader's Digest version of the advice:
- Adjust your expectations: "First," reads the article, "recognize that 'loyalty' has a new definition. Many workers believe that 'loyalty' means doing a good job and keeping their employers’ best interests in mind. But that doesn’t mean they feel duty bound to stick with one organization forever."
- Make it worth their while: "Employees stay with companies that give them the best professional opportunities, including training and ability to enhance their knowledge," the article continues. "The chance to take on more responsibility and have a hand in decision-making is also appreciated. Of course, competitive salary and benefits will also give you an advantage."
- Be the best: "Staff members take pride in working for an organization they respect," it reads. "When you give people the chance to do well in a stimulating environment, they’ll be more likely to stay."
- Recognize the importance of personal lives: "Balancing personal and professional responsibilities has become a top priority for workers of all ages," the article states. "They expect companies to acknowledge that they have active personal lives."
- Create team spirit: "Mentoring programs and team-building initiatives inspire a sense of belonging that can help make staff think twice when considering a new position," the article continues.
How do you earn the loyalty of your employees?