A problem I hear discussed among entrepreneurs is workplace loyalty. Whether it’s employees giving less than 100% or jumping ship, company solidary ain’t what it used to be. Believe it or not, this is not out of your control. You just need the tools to instill it in your team…
Laying the Groundwork for Workplace Loyalty
It would be easy to blame this problem on “kids today.” However, resources like Business Insider show a general between leadership and employees of all ages.
Nick Bloom, a professor at Stanford University, says in that same article:
“WHAT WE HAVE NOW IS A VICIOUS CYCLE OF BROKEN PROMISES. THE RESULT IS A WORKPLACE THAT NONE OF US WANTS: ONE WHERE NO ONE FEELS THEY OWE ANYONE ANYTHING.”
By that logic, it is easy to see where the weakness in workplace loyalty stems from…
Neither party made their wants and needs known from the start!
With that in mind, here are the steps to establish or rehabilitate this bond with your team…
Know What the Both of You Are Getting Into…
The relationship between a boss and employee is like any other…
YOU GOTTA MAKE CLEAR YOUR EXPECTATIONS AND GOALS FOR ONE ANOTHER OR IT’S DOOMED TO FAIL.
Ideally, you should ask before candidates join your team as one of your interview questions.
The reasons are obvious… Your expectations and their willingness may not match — or vice versa. And from there, it is impossible to ever have workplace loyalty.
So, have and revisit these conversations often because things change over time. This sets you, your workforce, and your company up for success.
Consequently, the next step is for both parties to make good on their commitments.
Have Fair Exchange for STRONG Workplace Loyalty
A criticism I often hear about Millennials and Gen Z is that they are “entitled.” This may be a hot take, but I believe everyone should feel that way…
See, the problem is not that we all have the right to money and success…
IT’S THAT NOT EVERYONE CHOOSES TO GO AFTER IT.
That’s where the next piece of the workplace loyalty puzzle comes in. As long as my guys are hustling and bringing in revenue, the ethical thing to do is reward it.
In fact, I suggest you have an escalating scale of awards as they hit bigger targets. But, keep two things in mind:
- These perks are not always monetary. That is dependent on what motivates your people and the goals of that division.
- Do not ever give these things for the sake of being generous. That also creates an imbalance. Reward good statistics — nothing else.
Of course, you can’t invest in workplace loyalty if the business itself is on unsteady footing…
Let them Know They’re STABLE with You
A major reason that people job-hop is that they don’t feel stability where they are. While you can’t control others’ feelings, you can do whatever it takes for your business to thrive.
AFTER ALL, EVERYONE WANTS TO BE A PART OF A WINNING TEAM.
This is the most overlooked factor in developing workplace loyalty, in my opinion. If you don’t promote great things your business is doing, your employees won’t know.
Announce hitting targets and revenue goals as frequently as possible — my team does it daily. It keeps your people fired up and loyal.
But there are other important things you need to talk about as soon as they occur…
Communicate About Issues IMMEDIATELY
As I mentioned, workplace loyalty is like the other relationships in your life. So, you gotta have open communication — especially when things aren’t going well.
That’s why a tip I have for giving feedback to employees is not to wait to say something.
JUST AS IMPORTANT, THIS OPEN DIALOGUE HAS TO GO BOTH WAYS.
They have you feel comfortable enough that they feel allowed to speak up when things aren’t sitting well. Otherwise, dissatisfaction will brew, and that team member will move on.
This and all of my advice above set a solid foundation for workplace loyalty. Still, there is only one thing that will keep superstar employees loyal to you…
Final Step for Long-Term Workplace Loyalty
My last bit of guidance for you applies to your entire staff, but is even more relevant to stellar employees…
You know, the ones that once you find them, you don’t know how you did it without them. It may surprise you, but the secret to their allegiance is not money…
IT’S OPPORTUNITY.
Give these individuals room to grow, big goals, and big purpose, and you’ll see the strongest workplace loyalty you’ve seen in your life…
Show your team what you see in your business.
Do that and you’ll be great.
— Grant Cardone
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