Employee turnover is a huge concern for many businesses. Not only can employee attrition impact your business financially, but it can cause your employee morale to suffer. Ultimately, much of this voluntary turnover can be attributed to a lack of employee loyalty and engagement. The fact is that less than one-third of Americans are actually engaged in their jobs during any given year. But by investing in your employees, you can improve rates of engagement, productivity, and loyalty.
What’s the secret to employee loyalty? Leadership.
Your company needs strong leaders who listen to and truly care about both employees and clients. By developing a strong company culture that focuses on bettering the work experience, your employees will feel more respected, more motivated, and more empowered. They’ll also be more likely to entrust in company decisions and give respect back to management. In the end, this creates a mutually beneficial relationship between employer and employee that will foster loyalty, creativity, and emotional investment.
What are some ways to improve employee loyalty?
Employees will often feel frustrated when they find there are gaps in their own training or their training experience differed greatly from that of their coworkers. Employee training needs to be up-to-date and consistent across the board. Ask your employees for feedback on their initial training experience, as well as additional areas they’d like to learn more about. An employee development training program can be particularly helpful for improving communication between team members or leadership development for your managers.
As mentioned above, your company will be more likely to thrive if you create a corporate culture that values every employee and promotes certain values. You’ll also need to take note of employee interactions on every level and how different personalities work together. Your team’s culture should be based on collaboration, communication, innovation, and respect. One person’s bad attitude can negatively impact the entire team; when making hiring and firing decisions, it’s important to keep this cultural balance in mind. If your company has that strong culture, your employees will feel more invested in their work and their relationships, making them more engaged and productive in the long run.
Employee development training programs will help your workers recognize what they need to improve upon and how to do so as a team. But your managers will likely need to make some adjustments, too. The strongest managers aren’t the ones who rule with an iron fist. They listen to their employees’ concerns and trust them to do their jobs. Micromanaging is one of the worst things you can do. It will make your employees feel belittled and will likely lead to greater turnover. You should set realistic goals for your employees and make sure they have the resources and skills they need to achieve them. Giving feedback for the work they do is key and can provide further motivation for them in the future.
By making sure that your workers and managers are well-trained and are able to benefit from an environment based on respect and positivity, you’ll be well on your way to reducing turnover and overall dissatisfaction. If you’re looking for ways to improve your company leadership and employee loyalty, our employee development programs can help. For more info, contact Black Rain Partners today.