In recent times, companies have been experiencing high staff turnover, and regardless of the side of the coin you belong to, this development is not particularly good for the business environment in general. With staff loyalty and job stability seem to be almost non-existent in today’s business environment, it is important for employers to address the issue to ensure the growth and sustenance of the business.
Factors considered by employees before joining an organization
When employees are about accepting a job offer, different factors are put into consideration. Some of these factors are highlighted below.
Job Stability is an important factor considered by many potential employees when deciding on whether to accept a job offer or not. Job Stability is not just about holding on to a job; it actually involves enjoying steady pay and other benefits that come with the job, while enjoying the work. It is therefore not surprising that potential employees look at the potential employer and their industry to ensure that it is growing and the pay is stable for a long period.
In addition to considering job stability, another factor considered before taking up a job is remuneration. Everyone needs to be appreciated, with the first point of call being the remuneration paid by the employer. The impact of the job on your income is an important factor to consider when searching for a job. While job stability and remuneration should be considered side-by-side, it has been discovered that due to some reasons, people might opt for jobs that pay even if the future looks bleak for the company or the industry in general.
The job location or the need for relocation is another factor that most potential employees consider before taking a job. This is particularly true for people that already have their family settled in a particular region, as they have to consider the financial and other such costs of relocating to a new environment or even country. In this instance, it is even more important to consider job stability as moving from one region to another in frequent successions can be detrimental especially when you have kids.
Other fringe benefits like health insurance and other such incentives are also considered by employees when making a decision on whether to join an organization or not.
It is worth noting that most organizations do not have all these features embedded in them and potential employees would most times have to make sacrifices based on their individual preferences and circumstance.
How employers can increase employee loyalty
While employees look at out for certain features in a company and even industry when making the decision to join a company, employers also have the responsibility of ensuring job stability and employee loyalty as these factors ensure the growth and success of the business both in the long and short run. Below are some tips that can be followed to increase employee loyalty and subsequent job stability and growth of the business.
Increase confidence in leadership
A survey conducted in 2003 showed that confidence in leadership is one of the most important factors determining employee loyalty. Employees want to feel like a part of the company and not just a tool for achieving the organizational goals. It is, therefore, imperative to create an environment of “inclusiveness” where every member of the organization feels like a part of the team and subsequently confident in the leadership.
Effective Employee Management
Some studies have established that effective employee engagement is key to employee loyalty. Engaging the staff of your organization does not help to create a relaxed and friendly environment that promotes loyalty, but it also gives the employees a sense of belonging.
Employees subsequently see themselves as part of the organization and subsequently treat customers like kings, ensuring the growth of the business.
Most employers make the mistake of taking remuneration as rewards for employees. While the prompt payment of wages and salaries is important especially for employees satisfaction on the job, other fringe benefits and rewards are what actually ensure employee loyalty.
Improvement in Company Culture
A general improvement in the culture and practice of the company helps to increase employee loyalty. The culture of an organization is the combination of the interaction or relationship that exists between employees-to-employees and the management and employees.
Personalities, attitudes and general perception of the company by its employees come into play when talking about company culture. Effectively improving this aspect of the organization ensures that employees are more loyal and ready to give it all for the progress and growth of the business.
Other ways of increasing employee loyalty and work stability include a structured system for dispute resolution, the mutual show of respect, neutrality in all spheres, and continuous education of staff. It is often said that big things come in small packages and for businesses that feel appreciating their most important resource – employees, is too much, it is worth noting that small acts go a long way to strengthen a person’s loyalty.
Over the years,National Polystyrene Packaging Factory, Dubai has continuously demonstrated its appreciation for its employees and the recent award of service and lunch organized to recognize noble, loyal and diligent employees further reiterates the company’s mission of creating a family-like environment for its staff and everyone related to the business.
By rewarding outstanding performances and excellent job, employees are encouraged to do even more and become more loyal to the organization. However, it is worth pointing out that employees should be rewarded appropriately and fairly without bias.
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