Why Staff Loyalty is worth more than its Weight in Gold
No matter how big or small your business, it really does pay to have loyal employees thanks to the implications placed on both employee retention and morale, among other areas. However, if you’re still not convinced on why loyalty should be nurtured over initial output, Julie Rutherford, Head of HR at Hillarys, is here to explain…
Positivity goes a long way
Nurtured, loyal employees are more likely to think of the organisation they work for in a positive light, meaning that a strong degree of organisational culture can be enforced amongst colleagues. This is crucial in improving the efficiency and productivity of a workforce who are driven to meet company goals and objectives.
Loyal employees want to work
Nothing kills creativity like de-motivated employees, however, when employees are loyal to their workplace, they are more likely to come up with more ingenious ideas and go the extra mile. It’s common sense; if your employees don’t like their job and don’t want to be there, then of course productivity isn’t going to be high. Nurtured employees often feel the urge to give something back to their workplace, promoting loyalty and commitment.
Impact of an ever-changing workforce
An ever-changing workforce means that individuals are not able to form strong relationships with their colleagues, leading to lower morale amongst employees. Additionally, the lack of strong relationships within a workplace can lead to greater disruption, as it’s likely to be a less harmonious environment thanks to a number of people sharing different ideas of the company’s culture. This works in a cyclical manner as employee retention is not likely to be so great if employee satisfaction is lacking.
There are numerous costs involved when looking to hire and train new employees. Indeed, whilst a small level of staff turnover is natural in any organisation, having to constantly find, hire and induct new staff can be costly. Give employees a reason to stay and engender loyalty from them through a series of good employment practices and, in turn, there’ll be no reason to replace a satisfied workforce.
On boarding time
Alongside the costs to recruit new employees, the time taken to induct employees can also cause a great strain on company resources. New employees will not be earning the company money during the induction process, however they will often still demand a monthly pay check, meaning outgoings can often be greater than incomings. This ignores the time out that other staff have to take in order to show their new colleague the ropes. The smaller the staff turnover, the less time is taken up inducting new employees, meaning that your organisation can perform in the most efficient way possible.
Customer attraction and retention
Employees happy in their current job role give off a much more positive vibe than those who are unhappy – so look to see how you can resolve any issues you have internally before it begins to impact customers and the business overall.
When looking to bring in new customers, happy employees will be far more approachable and easier to deal with, and they will also be more willing to go into more depth and offer a higher level of customer service. They’ll talk about the company and its products and services far more favourably, which will translate when talking to customers. New customers will want to work with you and your business, and ongoing customers will want to stay.