3 C’s That Drive Employee Loyalty
Employee loyalty develops from creating an environment where employees are valued, aligned with your vision and mission and are supported in their efforts to deliver an exceptional customer service experience. Employees today want to be part of a culture that is positive, allows them to participate, encourages career growth, and solicits their feedback.
Building employee loyalty has its rewards. Employees that are loyal are less likely to leave you. According to the U.S. Small Business Administration, with each additional year that an employee stays, turnover is reduced by 81%. When you lose a valuable employee, the cost can be high. Estimates range from 1.5 to 3 times their salary when adding in the expenses of benefits, taxes, training, rent, etc.
Driving loyalty is possible. Employee loyalty will grow when you build meaningful connections and compensation for your employees. I want to share our 3 C’s of Employee Loyalty – Care, Connect, and Compensate. These are basic concepts that can help you build and improve the employee relationship.
1) Care is about developing a culture where employees are respected, honored and appreciated. Putting employees first is one way that you can honor and appreciate them. Hiring the right people shows that you care about the culture you are building. Develop hiring standards and don’t budge from them. Also, give employees the freedom to make decisions that will allow them to do their jobs effectively and that puts them in the best light with your customers.
2) Connect by communicating often with your employees. Management should recognize and acknowledge any extra time or effort that employees put into their jobs. Get in the habit of saying thank-you to show your appreciation. Listen to your employees. Spend time with them and find out how things are going on a regular basis. Show that you care about them by celebrating birthdays, employee anniversaries and the like.
3) Compensate your employees. Offering fair and competitive salaries and benefits is expected today. Provide incentive programs that are tied to performance. Recent studies show that cash rewards may not be the best motivators as they are quickly forgotten. An example of a simple award is to invite an employee to a high-level meeting where they will be noticed and appreciated. Another recognition program that I have used in the past is to select employees to be part of an “inner circle”. Being part of a special group can be a big motivator for some. Find creative ways to reward your employees.
High employee retention and loyalty is something we all want. Employees who are engaged in providing a superior customer service experience will help you drive sales in this economic downturn.
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Norma is an innovative Customer Experience Strategist, Business Coach, Blogger and Speaker and owner of Captivated Customers. Her goal is to inspire business owners to captivate their customers and turn them into raving fans so that their businesses can experience increased profits and more fun. You can contact Norma at norma@captivatedcustomers.com or call her at(480) 694-6940. |
