Running a business of any kind comes with change. From industry innovations to shifts in the economy, there is never a moment void of something different. Change can bring about something beneficial or detrimental to a company. In either case, companies will attempt to steer their ship into or away from these respective outcomes.
However, there is one change every company would rather avoid altogether – employee turnover. When employees leave, there is a ripple effect which goes further than some might expect. Not only must the company work to replace the employee, but they will also have to cover for that person’s responsibilities in the interim.
Moreover, there is no guarantee the person they bring in to replace the former employee will provide similar quality work. All this is ample reason to strive for employee loyalty when in charge of a workplace. Sybil Stershic, the president of Quality Service Marketing, offered additional evidence for doing so: “The way your employees feel is the way your customers will feel. And if your employees don’t feel valued, neither will your customers.”
Employee loyalty is all well and good in theory. But how does one strengthen it? We spoke with a handful of people with experience to gain some insight.
Alex Carroll is the Founder of Caliber Games, a brand offering a catalog of both classic and original game products shared in-person experiences between loved ones. He believes in being proactive about creating a financially desirable workplace.
“Like it or not, the almighty dollar is still king of most job-related decisions. Most people are not working for the fun of it and the amount reflected on their paycheck can be a deciding factor in staying or going. It’s important to realize that employees talk amongst themselves and to peers in their industry. Because of this, they understand what they are worth and what others in similar positions are getting paid. Loyalty comes about when people feel as if they have not only been considered but cared for and a paycheck goes a long way in showing that.”
Work with employees
Haven Athletic specializes in gym bags that are climate-neutral along with multiple vented compartments. Their CEO, Caleb Ulffers, suggests incorporating employees into the fold when designing employee loyalty programs.
“No person knows how to best support employees other than the employees themselves. It’s logical, those who need support, know what they need to make that a reality. So, you should be sure to work with as many helpful employees as possible by asking them what they need to be successful, where they feel like the culture is not supporting them, or how to incentivize loyalty. Honestly, their opinion is second to none regarding this. Why? Because if you create something like this that people don’t want, you’ll see how quickly they start to fill their boxes and head out the door for good.”
Sometimes, there is nothing more effective at showing appreciation than a pat on the back. Relay is a business providing team-based accountability and connection to overcome addiction. Their CEO, Chandler Rogers, considers this approach useful for nurturing loyalty.
“Have you ever been the recipient of a compliment or words of praise? Likely, you have moments like this which stick out in your memory. The truth behind this type of impact is simple. When people take notice of you in a positive and genuine fashion, it represents the idea that they appreciate you.
“Emotions like this are few and far between which results in them becoming so memorable. Now, I’m not saying walk around the office and hand out awards or even compliments like they’re Halloween candy. But, when some of the more milestone moments take place, take the time to highlight the success of anyone and everyone involved.”
Rio Wolff is the Chief Operations Officer of Big Heart Toys, a brand offering innovative toys, books, and games to help unlock the power of learning through play. She advises transparency about all things related to developments in the company.
“Nobody enjoys the feeling of going into a workplace that feels like an ever-churning tornado of unannounced changes. I’ve been part of environments that felt as if it was one change after another to the point where my head was spinning. Even just the smallest of heads up can lead to employees feeling more involved in what’s taking place in the workplace where they spend so much time. Spending time somewhere you feel like an outsider is never enjoyable and your employees feel similarly. It’s up to you to change that.”
AdQuick specializes in billboards and out-of-home (OOH) advertising. Their VP Marketing, Lina Miranda, believes giving back to employees who demonstrate loyalty is a strong method.
“I think it’s fair to say most significant changes in life are hard. When this is the case, people tend to navigate their lives around these so as not to experience the harsh reality of life. This may be a bit of an extreme when talking about loyalty to a company but conceptually, it falls in line. See, if people want to avoid change, they stick it out somewhere longer than they should. After a while, the culmination of everything becomes too much to handle, forcing the people’s hands. This is no way to let your employees exist professionally. Achievable rewards for employees to secure after staying with the company eliminates every aspect of this and builds the ever so valuable loyalty.”
Face issues head on
Speaking of steering clear, this is not an action to take whenever a problem presents itself. Maestro is a business providing an all-in-one interactive video platform and live streaming solution. Their CEO, Ari Evans, proposes a far different technique.
“Letting issues linger is a sure-fire way to cause your employees to distrust you. Remember, your employees are not sheep, they are highly intuitive people who observe far more than you might want to give them credit for. Any perceived misstep by you could potentially bring harm to these relationships. Basically, you should face any issues head on. It may not be the most natural of approaches at first, but practice makes it better.”
Across the globe, companies work tirelessly to set themselves apart from their competition. Despite the depth of employee loyalty as presented above, it can often be overlooked. Doug Conant, the CEO of Campbell’s Soup, spoke to why it should be a focus: “To win in the marketplace you must first win in the workplace.”