How to Create Employee Loyalty – Part 3 of 3
In this last part of our article (See Part 1 & Part 2) we disclose the other 2 main reasons why you can’t keep good people! Work at correcting those and see your profitability, your expansion AND your morale boot up to new sky highs!!!
As we all recognize, the biggest expense item on your balance sheet is people. It can also be your strongest leverage to profits – or losses. Employee loyalty is like customer loyalty – except that the second cannot exist without a strong first one!
So what are these other reasons why you lose good people?
(3) LACK OF APPRECIATION
According to a Gallup survey, 74% of employees are disengaged at work. Disengaged employees will search for an organization that will engage them.(3) Following Leigh Branham (“The 7 Hidden Reasons Employees Leave”), the major reasons given for disengagement and departure are: (4)
- Poor management – uncaring and unprofessional managers; over- worked staff; no respect, no listening, putting people in the wrong jobs; speed valued over quality; poor manager selection processes.
- Poor communications – problems communicating top-down and between departments; after mergers; between facilities.
- Lack of recognition – that says it all.
- Poor leadership – not listening, asking, or investing in employees; unresponsiveness and isolation; mixed messages.
- Lack of training – nonexistent or superficial training; nothing for new hires, managers, or to move up.
- Excessive workload – being asked to do more with less; also sacrificing quality and customer care to make the numbers.
- Lack of tools and resources – inadequate supplies, poor technical support, lack of human resources to relieve overwork.
- Lack of teamwork – not enough cooperation and commitment to get the job done; conflicts between departments or services.
When employees feel their contribution is appreciated and valued, that the organization cares about their well-being and is ready to off r help when needed, this is referred to as “perceived organizational support.” As reported by RTWKnowledge.org, a review of over 70 scientific studies investigated the effects of perceived organizational support, along with the factors that can increase perceived support in the workplace.*
The main effects of perceived support are:
- Increased commitment
- Improved job satisfaction and mood
- Increased interest in work
- Increased performance
- Increased desire to remain working for the organization
- Decreased withdrawal (including decreased lateness, absenteeism and turnover)
Per the same source, there are three main factors that increase perceived organizational support and make employees feel appreciated and cared about. These are: fairness, support and rewards from supervisors and job conditions.
Simply stated, it should be a natural management attitude to appreciate a job well done, to acknowledge employees’ intentions to contribute and to recognize their willingness to make things go right.
Yet this is exactly what the majority of employees complain about: their leaders don’t care enough!
(4) LACK OF LEADERSHIP
To end off this chapter, we could ask: what is the first reason why talented, top players leave a company? The simplest and most condensed answer probably lies in one of the largest studies undertaken by the Gallup Organization. The study surveyed over a million employees and 80,000 managers and was published in a book called “First Break All The Rules,” by Marcus Buckingham and Curt Coffman.*
The findings: if you’re losing good people, look to their immediate supervisor. More than anything else, the direct manager is the reason people stay and thrive in an organization. He or she is also the reason why they quit, taking their knowledge, experience and contacts with them — often straight to the competition.
“People leave their managers, not their companies,” writes the authors Marcus Buckingham and Curt Coffman. “So much money has been thrown at the challenge of keeping good people — in the form of better pay, better perks and better training — when, in the end, turnover is mostly a manager issue.”*
If you have a turnover problem, look first to your managers in charge. Are they driving your top players away? Employees’ primary needs seem to have less to do with money and more to do with how they are treated, appreciated and valued. Much of this depends mainly on their supervisor.
A Fortune Magazine survey some years ago found that nearly 75% of employees have suffered at the hands of tough superiors.(8) Of all the workplace stressors, a bad boss is possibly the worst, directly impacting the emotional health and productivity of employees.
So where can the big difference be made?
Simply stated, in the way you treat your people. Attitude is the most sought-after soft skill in applicants; it also appears to be a rare quality among employers. The good news is: attitude is free, so you can never show too much of it!
To your success,
Best Selling Author “No-FailHiring2.0”
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