A recent Gallup poll found that more than three-quarters of workers around the world are either “not engaged” or “actively disengaged” while at work. The poll’s findings indicate that a significant percentage of not engaged employees either lack motivation at work or aren’t interested in going above and beyond to meet company goals. The percentage of actively disengaged workers are unhappy, unproductive and likely looking for work elsewhere. It’s no wonder, then, that employers are looking for ways to encourage loyalty and retain good employees.
Loyalty Both Ways
Hubspot founder and CTO Dharmesh Shah noted certain qualities that characterize a loyal employee. These include giving praise for others’ work, showing integrity in their workplace behavior and not being afraid to speak up to make the company operate better.
Business owners and managers need to give to employees as much as they expect from them. Ask yourself:
- Does the company provide the right tools and training for employees to get their job done well?
- Does the company reward employees fairly and frequently? Are goals and bonuses clearly defined?
- Does the company deserve the loyalty of its employees? Do managers demonstrate good business ethics?
For effective employee engagement to foster at the workplace, companies and management teams need to acknowledge how employee loyalty matters to the company’s overall bottom line. If people are streaming out of your company on a weekly basis, and management doesn’t seem to show any concern for this exodus, they are not demonstrating loyalty to employees, and will likely not receive any in return.
In today’s fast-paced startups, companies often forego the practice of printing up business cards for an employee’s current role, because they envision that role will change. But having a company business card means a lot to younger employees. Companies can build loyalty by printing a run of business cards with less-specific job titles under the employee’s name. That can help instill a sense of company belonging.
Keys to Retention
More research from the Gallup poll showed that engaged employees have a greater sense of well-being at work, and that well-being transcends any kind of company policy. Engaged employees often dwell less about their allocation of vacation days or personal time off. Their sense of well-being grows through their work, and they know just rewards will come. Disengaged employees are often the ones seeking more time off for personal reasons.
If you’re a business owner or department head, try these tips to build employee retention in the workplace.
- Be clear and open about performance expectations to employees
- Provide a workplace atmosphere that recognizes employee achievement
- Show your employees what they need to do to advance in the company
- Hold regular meetings and provide feedback about employee performance on a continuing basis, not just at six- and 12-month review times