The smooth running of a business depends not only on retaining customers and partners or regularly attracting new ones, but it also depends on employee loyalty. When the leaders of an organization underestimate the importance of this issue and don’t take into account the adverse effects that the repeated replacement of the staff may bring, the whole business will suffer. Of course, loyalty is a characteristic that depends on the personality of each employee, but we cannot ignore the fact that the work environment plays a significant role in all this situation.
The reasons why attracting and retaining loyal staff and performers is essential for the company’s progress are numerous. One of the most important is the fact that the employees are the elements that drive a business’ engine, and they are the ones who make your business goals become reality. Thus, achieving the interests of the organization depends on keeping their satisfaction at a higher level. Employees who are satisfied with their job will represent the company’s interests in the same way they would do it with their interests.
Money Doesn’t Always Motivate
Financial compensations are not always the best option when it comes to rewarding the loyalty that some employees prove. Sometimes, even the employers that offer high wages fail to cultivate among their staff the fulfillment of their responsibilities according to contract obligations, so that a raise or a bonus is not always a motivation strong enough to make people more dedicated. Therefore, the fact that money does not always bring happiness is also a certainty when it comes to the work environment.
There are employees for whom entrusting a project unrelated to the job description brings satisfaction. For example, if a company does business in several domains, exchanging experience between departments or between different branches of the organization can be a highly valued benefit for employees who want to learn new things. Traveling abroad, visiting the central headquarters of the organization, a working visit abroad and knowledge mobility could be some excellent incentives for employees who do their work with dedication.
The Opportunity to Develop and Customized Benefits
And as we brought up the idea of knowledge, we must mention the fact that training and professional development programs represent a highly valued benefit for employees who want to learn more. For example, a very advantageous practice is the possibility to benefit from specific training sessions, when we talk about employees who have reached a certain number of months or years within the organization. Thus, depending on the seniority they have in the company and the level of experience, the complexity of the training programs could vary.
Another good option to reward employee loyalty is giving extra days off, besides the number of days annually granted, according to labor legislation. Otherwise, the type of benefits can vary depending on each person. Thus, an employee could enjoy more than others the inclusion of family members in his medical insurance package, while others could be delighted if you offer them a discount for the gym.
Therefore, leaders should get to know their teams and understand their diversity, offer customized benefits, when possible, to fit the employees’ needs.
BIA HR TEAM