In our recovering economy it sometimes seems like there will always be more candidates than jobs. In some industries today that is already not the case. A talent war is looming, a time when companies are poaching each other's human capital and when employee loyalty should be at the top of your HR Strategy agenda. Here are three ways to build, maintain and teach loyalty in your organization.
- Foster a team mentality. Build a team and focus on collaboration, team building and making your team greater than the sum of its parts. As part of this, the team leader should encourage peer-to-peer rewards and recognition. Allowing employees to bestow small rewards like gift cards to popular retailers like Barnes & Noble, The Cheesecake Factory or Baskin-Robbins both builds confidence for the gifter and builds appreciation for the giftee. Team camaraderie works best when everyone can reward each other. With team camaraderie comes employee longevity and loyalty.
- Cultivate professional development. Make your employees the best they can be. Your organization will reap the immediate benefits with highly skilled employees who are working at peak performance. Your employees will remain loyal because the skills they gain from the training are theirs for life.
- Provide a feedback forum. Give your employees a chance to offer feedback to all parts of your organization, whether it is you as the manager or other areas of the business. When employee's voices are heard they stick around to help build the organization and make a difference.
Employee loyalty helps your business in a number of ways including reducing turn-over, improving productivity and boosting employee morale.
For more information on how to foster employee loyalty at your organization head over to Forbes.