According to a study performed by Columbia University, the average cost to replace a worker in the U.S. is his or her annual salary. If an employee earns $45,000/year, then it would cost the company roughly $45,000 to find, hire and train a replacement. The good news is that business owners can help reduce the need for locating “replacements” starting with Employee Loyalty Improvements in the workplace. Among other things, loyal employees are less likely to look for a new job, which saves the company money and time.
Employee Loyalty Improvements Tip #1) Communicate
I can’t stress enough the importance of communication in the workplace. When bosses communicate freely with their employees – and vise-versa – it improves productivity while reducing the chance for error. Most human errors are the direct result of a lack of communication; so don’t allow this to happen in your workplace. Make yourself approachable and keep the lines of communication open with your workers.
Tip #2) Allow For Professional Growth
Another important tip to encourage employee loyalty is to allow for professional growth. When employees feel like they are stuck in a dead-end job (even if they aren’t), they may look for work elsewhere in hopes of building a stronger career path. Let your employees know that promotions are available to those who work hard and excel in their current position.
Tip #3) Recognize
Arguably, the single most influential factor in creating loyalty in employees is recognition. We talk about this topic a great deal here on the AsapAwards.com Blog; recognizing employees who go above and beyond the call of duty encourages others to follow a similar path. And by recognizing your employees, you’ll likely reap the benefits of a reduced turnover rate, higher productivity, higher morale, and more.
Tip #4) Be Consistent
Being consistent sets the tone for everyone else in the workplace. Some bosses and managers may allow certain things one day and then prohibit them the next. This type of inconsistency only confuses and disgruntles workers. If you’re going to allow employees to perform a task or use a certain technique, don’t go back and forth. Consistency is a key factor in creating a workplace with loyal employees.
Tip #5) Team-Building Exercises
Implementing some team-building exercises in your workplace is yet another simple way to institute employee loyalty improvements. There are dozens of different exercises, games and activities focused around team building. If you’re struggling to come up with some decent team-building exercises, hop online and do some research. A simple Google search will reveal hundreds of great activities for the workplace.