Brigette Hyacinth* says employee loyalty is a precious asset for any organisation — so why is it so often under-valued?
The long-term success of any organisation depends heavily upon the commitment of its employees.
Sadly, most organisations don’t think critically about how to increase employee retention.
They think the pay, and maybe a few perks, are sufficient.
The link between employee loyalty and an organisation’s success is long-established.
Loyal employees equal loyal clients.
Loyal employees are worth much more than their weight in gold; they uphold your brand and ensure the sustainability of what you do.
They make it possible for you to win.
When a loyal employee leaves, it costs. The impact on the organisation’s culture is also severe.
Beyond the more tangible losses as cost of hiring and training, and time with an unfilled role, it affects team morale and causes other employees to reconsider their loyalty.
Additionally, poor employee loyalty can damage an organisation’s image.
Sites like Glassdoor and Indeed offer employees a platform on which to air their true feelings about their employer.
Fortune bases its 100 Best Companies to Work For ranking on employee reviews of company culture.
Organisations need to be more strategic about how they think about employee retention to remain competitive.
It’s important that managers focus on relationship building and encourage a family atmosphere at work.
Get to know your employees, meet them where they are and be flexible.
Many organisations treat their employees as if they are a commodity; they use them until they can get no more out of them, and then cast them aside.
This leads to poor morale, lower productivity, and higher turnover.
Pay alone is not sufficient. People need to feel appreciated and valued.
Employees want autonomy, flexibility, appreciation and opportunities for growth and development.
When people feel undervalued, they leave at the first opportunity that comes their way.
Your employees are your most valuable asset: Years of experience are hard to replace.
Don’t take your employees for granted or treat them poorly — they use your internal tools and systems and interact with clients.
They are your best brand ambassadors.
Loyalty is a two-way street. You can’t buy loyalty, but you can certainly foster and nurture it.
Employees who have been pushed to the point where they no longer care will not go the extra mile.
They will not take the initiative to solve problems.
They will end up treating clients the same way you treat them.
Employees are the heartbeat of any organisation, and if the heart stops beating…what will happen?
* Brigette Hyacinth founded the MBA Caribbean Organisation which conducts seminars and workshops in leadership, management and education as well as providing motivational speeches.
She can be contacted at www.mbacaribbean.org.
