Is Employee Loyalty Linked-up to Retention?
The high employee turnover in contact centers is a significant challenge to the management. Every human resource manager wants to hire and retain top talent, which contributes to the long-term success of the organization. If the company keeps hiring new employees, it distorts the smooth running of the organization especially regarding meeting customer needs.
Employee retention that matters is of the performing employees because they add value to the organization. When you have long serving employees who are average performers, your organization will stagnate. Retaining top talent is not an easy task. Nevertheless, it is doable.
Several factors contribute to your ability to keep your employees including, financial rewards, job characteristics, management and leadership style, recognition at work, career development opportunities, work-life balance, employee views on his or her importance at work, organization values and retention programs.
Today I want to explore employee loyalty, which is a result of how the employee views his or her importance at work and its effect on retention.
Employee loyalty is summed up as employees who are devoted to their company and know without a doubt that the company has their best interest at heart. They believe that they will achieve their career goals faster and effectively while working with you.
In brief, these are the characteristics of loyal employees
- They serve with integrity. Meaning, they will always do the right thing for the business no matter how uncomfortable it may be.
- They take risks for the firm.
- They believe in the company vision, mission and core values.
- They contribute to discussions and give substantial reasons why they think that move will benefit the business.
- They speak out their minds especially when it is something you least want to hear about but is it true.
- They correct privately so as not to embarrass their bosses and peers.
- They work hard and smart to ensure they achieve their targets.
- They are team players because they understand the value of working together in harmony.
- They are true to themselves. They put in the effort because they want the best for themselves.
- They actively engage at work.
- They do not keep looking for work elsewhere.
The above list is not conclusive, but you get the drift of what makes an employee loyal.
To sum it up, employee loyalty is linked – up to retention.
From an employee’s perspective, when they feel that the company is attending to their welfare, and they see career growth, they stay longer. They see a bright future; therefore, they will give their best at work to realize it. If an employee feels neglected and unmotivated, they search for an organization that will appreciate and value them.
From the employer perspective, when an employee is loyal and gives their best, the organization is inclined to meet their expectations, thereby, increasing their chances of staying. As the employer works towards retaining the employee through implementing various retention strategies, the employee’s devotion towards the company grows to loyalty level.
It is a give and take for the employer and employee. It is more like a psychological contract, where each expects something from the other for them to perform. The employees input is determined by the employers output and the vice versa. Both parties have to perform their duties for the relationship to work.