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If loyalty means the state of being honest and true to a place, person, institution or cause, and sticking to it through thick and thin and carrying the best interest at heart, then let’s be honest about it straightaway. Most of us, if not all, are being an infidel at our workplace.
Employee loyalty has been observed as one of the fast diminishing workplace values and the trend has only expedited its pace in the recent years. Although employees spend a huge portion of their day, months, and years at the workplace, around 38–41 % of their total time, they fail to develop a strong and sustainable relationship with their workplace and will switch when a better opportunity comes their way, without giving it a second thought. This could primarily be due to the following reasons:
According to Harvey Mackay, “Employee loyalty begins with employer loyalty. Your employees should know that if they do the job they were hired to do with a reasonable amount of competence and efficiency, you will support them.”
This implies that loyalty at workplace is a two-way process. If the organization puts a greater emphasis on being honest and fair with its employees, makes consistent efforts for their growth, and retains employee satisfaction, there is a high chance that employees would reciprocate the favor and look for a long term career with the same employer.
As inferred in a survey conducted by Met Life, job hopping and turnovers are happening at the highest rate in the last 7 years. While this indeed is quite alarming and is a negative trend for contemporary human resource management, workplace loyalty is not yet completely vanished. There still prevails some hope for organizations to foster workplace loyalty in their employee base.
How Can Organizations Win Employee Loyalty and Satisfaction?
Since the equation for workplace loyalty initiates with the organization’s input of efforts towards employee retention and ends at the employees’ response to it, here are some tips for organizations to improve employee relations and satisfaction.