Women put employers in a unique position as far as employee loyalty is concerned. Women show trends of too much loyalty to their employers. As a result, their pay scales end up lower, their benefits packages end up in unconventional proportions and they can end up unsatisfied and even bringing ultimatums to their employers. Here are three pieces of women's loyalty to pay close attention to in order to ensure fair compensation and full employee loyalty and satisfaction.
- Money, plain and simple: Average annual salary increases sit around 2.9%, while new employee raises could lift an employee's salary 10-20%. If a long time employee threatens to leave because they have another offer from another company, chances are you're at least going to have to meet them in the middle in order to keep them. Don't discount the time and financial investment it could take to replace them and train a new member of the team. Employee loyalty should be valued, and that value should be reflected financially.
- Benefits: While different benefits can reward different behaviors (salary for a proficient job, stock options for long tenure, bonuses and rewards for individual project performance), ensuring that benefits are balanced with financial components is critical.
- Long term appreciation: Don't forget that it can take $20-30,000 to train a new employee and months to get someone fully on board. Having someone on the team to provide peer leadership and deep knowledge of the company and its 360 degree landscape can be one the most valuable organizational element there is.
Women tend to stay at organizations longer and this can be advantageous for both parties. Keep your female employees happy and they will continue to do good work and become even better team leaders for it. For more information on women's employee loyalty check out this
article from the Huffington Post.
