With excessive staff attrition prevailing among young employees, management questions loyalty as a huge concern in Generation Y. This generation seems to live in a digital world all the time and is never disconnected from applications such as Facebook, Snapchat, Twitter, and LinkedIn. They live with one foot out of the company as they are updated continuously about newer job opportunities on social networking sites. This generation lacks patience, and that is always evident in their lookout to get better-paid jobs. By the way, there are services where you can contact with a life coach via live video calling to find the best suitable job for you.
As a consequence, instilling company loyalty among employees has turned out to be a priority for all types of organizations and corporate entities today.
Sudden shifts in career planning, families relocating, and personal opportunities are some of the basic facts of life. Even if the managers start moaning about it, they really can’t help but accept this sort of reasons for letting their employees go.
If employees are made to feel a little connected and committed to their organization, they get to find the reasons to stay longer and serve the company to the best of their abilities. They will be encouraged equally if they start believing that they are part of an important push to achieve the vision of the company in the near future. This only happens if it gets reflected by a group of genuine leaders of the company.
Have you thought of a mission, foreseen a vision, and listed bedrock of core values for the company?
Yes, great! Did you promptly share it with your teams and make them value and own that mission?
You might have missed that step! We all do.
As per a recent report by Gallup, 83% of employees said that it was “very important” for them to have a life purpose, values, and brand reputation to make them work with the company and make a difference within. In the same study, it came out that those planning to stay for at least a year were 77% relying on the goals that the company kept for itself and employees.
Generation Y employees seek a sense of purpose that cannot be satisfied with just a paycheck. Instead, they desire to work “WITH” a company and not “FOR” the company. Retaining talent isn’t easy as you cannot bind them to the company, but seeing them as consumers, and treating them as such, would bring in business and newer clients.
Main Culprits of Staff Turnover
With every company facing the issue of lack of loyalty, and consequently employee turnover, they have penned down some of the common reasons leading to it:
- Higher pay scale offers by market competitors
- Continuous episodes of dissatisfaction at the workplace
- Lack of constant appreciation
- Job description involving long commutes
- Goals not defined by the organization
- No training modules or absence of facilities for upskilling
- Poor working conditions
- Office politics
- Missing programs for employee engagement
Here are some of the effective strategies of journey mapping to increase employee & Company loyalty:
Collaboration in Devising Strategies
This effort engages the manager with the team to layout a well-thought-out strategic plan to support the company and the clients. Managers, with a better understanding of what is best for their team, help them achieve it through timely feedback, communication, guidance, and a sense of accountability.
Plan a Roadmap with Achievable Milestones
With the strategies getting more transparent, the next step should be to the layout out a full-fledged plan of how you will reach the goal. This implies getting specific with each step, to end any possibility for confusion or misunderstandings.
A plan of milestones to work towards acts as a blueprint to track how far they’ve come and how far they have to go further. This roadmap gives an outline of the whole employee experience, which helps us track to identify areas for improvement and highlights the good and bad sides of their experiences.
Take care of your employees the way you want them to take care of your projects
The companies that take care of their employees get to see that their employees are taking better care of their projects. It also brings in goodwill while recruiting, and attracting the best talent around, which is one of the great struggles for companies these days.
For instance, Netflix brought out a policy last year, wherein it offers maternity as well as paternity leaves, extended for up to a whole year, even in cases of adoption of a child. On the very next day, Microsoft also announced that it extended the duration of paid leaves for newborns’ parents. This created a wave in the tech world, bringing up many benefits, as a gesture to show care and hold on to valuable assets of the companies.
Future workplaces will rely on soft skills training
Soft Skills training serves to show your approach to work duties and life. Simply defined, these are interpersonal skills imbibed in one’s personality through practices and learnings, and these are characterized in the way you interact with clients and employees. With advances in artificial intelligence, the companies have lined up some tasks that even hard skills have failed at in the workplace. As per a recent study by Deloitte, it was predicted that soft skill-intensive job responsibilities would account for 2/3rd of all jobs by the year 2030.
Recently, Jeff Weiner, CEO LinkedIn has quoted soft skills to be the biggest skill gap in the US industry. When your employees are well trained in technical know-how, but lack in soft skills, you may get to see some business challenges with time as they must be well trained in getting clients and customers, but not so great at retaining or continuing business with them, owing to the gap at soft skills. Luckily, you can bring it a culture to alleviate this through training and earns future leaders by working on aspects like:
- Organization of tasks and teams
- Critical and creative thinking
- Social skills
- Interpersonal communication
- Self-motivation and Positivity
- Time management
- Conflict resolution and Problem Solving
Instill the Habit of Giving Feedback
It all comes down to managers, as they have to buckle up and get proactive in bringing out a healthy relationship, with a trend of open communication among teams. They can start it by empowering the team members through accountability of work and ownership in the projects while backing them with all the tools and necessary resources to be a support in the journey all along.
A report by Gallup revealed that managers with a habit of investing quality time in building up trust and professional relationships with their team members deliver 48% increased profits back to the companies.
It can all start with the power of giving feedback. Yes! Establishing a loop of positive feedback is quite important to observe extra efforts and results for developing a manager-employee relationship. This requires timely check-ins, showing transparency, and training sessions. These should be conducted quite often and timely to track the levels of satisfaction among employees. It also gives the best way to support them in areas of struggle, while appreciating their efforts and progress.
Give Employees a Voice
Some of the best ideas for building employee loyalty are most likely to come from your employees if you’re open to hearing them. When you adopt a policy of openness to hearing new ideas, no matter where they came from, you’ll be tapping into a very powerful brain trust of people who know your business well. Additionally, when employees feel included in your company’s process of innovation, they will feel more closely connected to its success.
Enhance Education through Continuous Training And Development Programs
Once the frustration sets in, it’s quite hard to weed it out. It frustrates like a pebble in the shoe, only creating more issues the longer that it stays in there. Not having proper schedules of meetings and training might turn out like you’re throwing employees into uncomfortable situations and challenges and expecting them to fulfill goals at deadlines with outdated information or equipment.
These problems are your responsibility and might create friction for both you and your employees. For example, does the employee schedule cause a lot of issues between managers and employees?
An excellent way is through the use of feedback, satisfaction surveys, and employee engagement. It ll furnish you with some actionable data, and you can value employee ideas and opinions openly.
Avoid Micromanagement system
If you are seeking employee loyalty at its best, show them that you trust! If you continuously sit over their shoulder, you might be missing on chances of learning from mistakes and letting them grow. Taking charge of everything and reigns in hands may seem to be the best plan ever, but it’s a sure shot way to develop distrust among employees. Instead of that, target goals for every employee, and make sure they stay accountable with skills and resources to do the job and later give full-fledged feedback to bring changes in the performance positively.
The Bottom Line
We have stepped into a new frontier and era in the workforce. Now is the time to position and empower our companies and let our employees thrive in an atmosphere that is as resilient as focused on technical know-how. With this, we can redefine the workplace culture, and bring in employee loyalty with the changing dynamics.
Andrew is an easy-going person with knack of writing. He is a multi-niche blogger and specializes in SEO, social media and marketing communications strategy. He has five years of experience in writing, love adventures and photography.