In this podcast episode, we’ll explore employee retention.
Hi, How’s it going?
What are your opinions on the changing employee and company loyalty trend and its impact on company behavior?
Employees used to be more loyal to companies. This shift in loyalty may be due to a perceived lack of company not being loyal back.
There’s a growing perception that companies need to show more empathy towards their staff, treat them well, and support them in front of others.
Layoffs and retail store closures are happening to people who have worked for companies for decades, and employees who are more recent and making less money appear to keep their jobs.
What are your opinions on the changing employee and company loyalty trend and its impact on company behavior?
Let’s explore this together.
What do you think are the primary reasons people are not staying in companies for their entire careers or lifetimes as they have in the past?
Is it?
- Lack of positive recognition and feeling undervalued.
- Businesses not offering pensions or laying off staff before they reach their retirement date for a pension?
- Lack of growth opportunities, passed over for promotion by a colleague who needs a better work ethic.
- Working with less, excessive workload, and career burnout.
- A toxic work environment or frustration with their manager or company work culture, mission, or values.
- Management tolerates lousy behavior and the terrible work ethic of staff.
- Policies change, workload changes, or job duties change.
- Low pay or no raises in years.
- Lack of clear direction or training for the job position.
Employees who don’t feel safe will start looking for something new.
Turnover and training new staff can be costly to the company’s bottom line, and what about losing knowledge, experience, and customers?
Customers tend to stay as repeat customers when they feel appreciated and have built a good relationship with an employee within the company.
Are there other ways to cut costs, see what’s working and what’s not, and try new strategies other than eliminating positions or closing stores?
There may be no other alternative. Have different strategies been considered? Hopefully, yes, and it was the last option.
Some companies have maintained loyalty. What do you think are some of the factors for this?
Employee loyalty and retention may have a combination of factors, many of which revolve around how employees feel about their work environment, the organization’s culture, and the value placed on them as individuals.
Today’s podcast Affirmation
I strive to maintain employee retention!
If you are struggling with the daily grind and feel alone, a leadership, life, and work-life balance coach like me can help you overcome those everyday challenges and continue moving forward to where you want to be.
If you would like to learn more about working with me for coaching services, go to my website: www.CoachingforInspirationwithPatti.com/coaching
I would love to hear your thoughts on this topic. If you would like me to explore another topic, please comment.
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Until next time when we meet again!
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