Why Loyal Employees Are Your Most Valuable Asset
The following article is a guest submission written by Ryan Gould. Ryan is the Vice President of Strategy and Marketing Services for Elevation Marketing. Ryan is an expert search, social and content marketer, he leads Elevation Marketing’s digital strategy department, helping brands achieve their business goals, such as improving sales and market share, by developing integrated marketing strategies distinguished by research, storytelling, engagement and conversion. You can follow Ryan at his social media pages on LinkedIn and Twitter.
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Customer loyalty is a term that’s thrown around a lot, but what about employee loyalty? These are the people that know your company inside out and dedicate a large chunk of their time to improving your business. They are what make your business human. It’s easy to forget the important role your employees play in enhancing sales and attracting new customers, but when you nurture loyalty in the people that work for you, you’ll start to see some incredible benefits for everyone involved.
According to research by Gallup, 70% of an employee’s motivation is influenced by their manager. There’s a saying that goes, it’s no wonder employees don’t leave companies; they leave managers. This is because employees that lack motivation don’t fully commit themselves to a position and lose productivity. Which, in some cases, can cost a company millions of dollars and lead to poor customer service.
There is good news, though. The vast majority of employees want to be part of something bigger. They want to be loyal to their employer. As Fortune Magazine columnist Thomas Stewart says: “Human beings want to pledge allegiance to something. The desire to belong is a foundation value, underlying all others.” But what does it really mean for an employee to be loyal?
What a Loyal Employee Looks Like
Loyal employees not only work hard for their pay, but they are committed to the success of your company. More often than not, they put the company’s interests ahead of their own, but are always striving to improve themselves and their role. In a survey by Workforce, 80% of respondents claimed that the definition of loyalty in the workplace has changed over the years. Today, loyal employees are those who are hired to do a specific job and they will do everything they can to do the best job.
Employees are your most valuable asset.
They are the people that work day in, day out to boost your business and help you to reach your goals, and loyal employees can do absolute wonders for the future of your brand.
How to Nurture Loyal Employees and Drive More Sales
1. Training and Development
“Train people well enough so they can leave, treat them well enough so they don’t want to.” – Richard Branson.
Training is an important part of running a business. You want your employees to be the best they can be, and to do that you need to provide them with the resources and tools they need to get there.
However, according to a Blanchard Co. study, 60% of employers don’t train and develop their staff.
Training can be one of the most powerful ways to boost your business. When your employees have the correct information and knowledge to do their best work, it will impact your business in positive ways.
Schedule regular training sessions and workshops for your employees that cover all different areas or, if you want to put the power in the hands of your staff, give them the chance to choose a couple of training courses to attend each year.
2. Create Advocates
Brand loyalty starts with your employees.
Don’t believe that?
Studies have actually shown that 92% of consumers trust the advocates of a brand over other forms of advertising (particularly direct forms of advertising from the company itself).
On top of that, messages that are shared by employees are 24 times more likely to be re-shared on social media.
Your employees bridge the gap between your business and your customers, as they’re the people who will be interacting the most with them. Loyal employees will happily talk up your business on their own terms which, in turn, will build trust with your customers too.
To do this, you can encourage employees to share their working experiences on social media and give them the power to talk up your business if that’s what they want to do. You can even turn it into a competition and have a weekly winner’s board to see who can engage the most customers
3. Feedback and Growth
In the same Blanchard Co. study we mentioned earlier, it was revealed that three-quarters of managers and executives don’t provide feedback to their employees. They also don’t get their employees involved in new processes and systems, and they rarely set clear goals and objectives for their staff.
This is a huge problem when you realize that feedback is vital for growth in any capacity – whether that’s in the workplace or personally.
It seems like such a simple thing, but giving feedback and helping your employees set and reach individual, as well as company goals, is incredibly effective.
Try setting regular meetings with staff where you can discuss objectives and how to reach set goals. On top of this, you can send out employee feedback forms to discover how your employees feel about your business and what they think can be improved.
This can be a great way to start tackling any key issues that arise without employees having to publicly air them.
Nurture Your Employee’s Loyalty to Grow Your Business
It’s easy to forget just how important your employees are, but if you’re struggling to get business off the ground or you feel like you’ve hit a brick wall with growth, why not take a look at what you’ve already got and think about how you can improve that?Remember, your employees dedicate their days to helping your business grow, so return the favor and give them the resources, tools, and information they need to grow into loyal advocates that will promote your business and drive sales.
How will you nurture employee loyalty this year?
Your employees can tell you a lot about your organization
Exceptional organizations stay on the pulse of employee experience and respond to ideas and concerns. Our employee surveys support internal stakeholders in gauging and understanding employee satisfaction in all corners of your organization. We take a careful, human approach, so that your team can feel comfortable throughout the entire process. Find out more about Engage.