Loyal Employees are important for a number of reasons. It’s always better to have happy people working for the health of your business. Having loyal employees makes your business better and stronger over the long term. Here are three ways employee loyalty can actually improve your business.
- Retaining Talent: In a world where 57% of millennials, the fastest growing segment of the workforce, believe that long-term company loyalty is dead (according to new research by oDesk and Elance) it’s really tough for HR organizations to hold on to employees. However, an organization that values loyalty and rewards it will more likely reap the rewards of loyal employees and the stability that comes with. That stability will make your business stronger and help build real relationships between employer and employee as well as between colleagues.
- Company Image: The “ratings economy” can really affect your company’s public image and even financial components like stock prices. With sites like Glassdoor that both empower prospects to get employed and empowers employees to air their feelings (positive or negative), there’s both a great opportunity and risk. Loyal employees will create a positive image that drives talent acquisition, while unengaged, detached employees can create a negative image that can weaken your whole business. The more loyal your staff, the lower the risk.
- Customer Satisfaction: Here’s the kicker. Loyal employees do have an effect on your customers. Loyal employees will lead to loyal customers, which will lead to a healthier bottom line. Employees have an effect on customers “Net Promoter Score” or NPS, which is based on if customers would recommend your company to a colleague. The higher your NPS, the better off your pipeline. Loyal employees and positive customer experiences can raise your NPS and sustain it.
How do you promote loyalty within your organization?