Loyal Employees Are Profitable
Loyal employees work hard for their income and they are committed to your organization's success. While someday a loyal employee may leave your company, they work hard and try their best to ensure overall success. In fact, many loyal employees put the company's interest ahead of their own.
Employee loyalty is very much alive, especially within companies that recognize and honour their value. Employees who show up, do a great job, and who are loyal are recognized through employee service award programs. Employers who show they care and connect with their team create an environment that makes people feel valued. Employers that grant autonomy and give credit where credit is due show employees that they are respected. Employees can be rewarded for their dedication and effort through service recognition programs across Canada.
Being valued increases loyalty and encourages employees to work to their best ability. These employees will ultimately boost your bottom line and help you to reach the goals of your business. An employee who is loyal often lowers the rates of turnover that can exist within any organization.
Loyalty Is A Two-Way StreetIt is crucial for all employers to note that loyalty is a two-way street. An employer can't expect their employees to be loyal if they themselves are not loyal. One of the main reasons for a decline in employee loyalty is that many companies have been less loyal to their employees. Jobs for life and decent benefit packages have given way to endless rounds of downsizing (business.tutsplus.com).
Naturally there will be times due to unforeseen circumstances, like COVID 19, where tough decisions must be made, such as closing stores or cutting costs. However, it is still important to support your employees and show loyalty; supporting your staff members during hard times will be remembered and valued.
Southwest Airlines has an excellent employee service award program where they put their employees first, above their customers and shareholders. Their logic follows the idea that if an employee feels valued, they will ultimately treat customers well, which will in turn generate profits for their shareholders. It's really as simple as that. CEO Gary Kelly publicly recognizes a different employee every week and then writes about them in the company's magazine, as well as includes them in the corporate videos to help reinforce the message and cement employee loyalty (business.tutsplus.com).
To ensure a credible and successful employee service award program, employers and managers must ask questions and talk to their employees to see what's important to them; what they care about. Creating formal surveys are good tools to understand what employees may want, but don't underestimate the power of informal conversations, as they can lead to deeper connections and trust among you and your staff.