A survey recently conducted by Towers Perrin, a global professional services firm, reveals that the current economic environment is stirring widespread anxiety among U.S. employees about their job security.
For instance, nearly half (45%) of all survey respondents said they expect their job to change or be eliminated, and even more (55%) believe their future earnings will either plateau or decline.
In this environment, the most important thing that companies can do to increase their employee productivity and loyalty is communicate more with employees and gain a better understanding of their workforce (i.e. their employees’ attitude, opinions, motivation and satisfaction) so that they can help their employees successfully navigate change and increase their employees’ loyalty.
According to research conducted by Dr. Gary Rhoads and Dr. David Whitlark, Allegiance loyalty experts, there are four areas that drive employee loyalty. These are:
1) being helpful
2) feeling confident and improved
3) feeling accepted, and
4) feeling respected
Thus, by regularly asking your employees questions related to these areas through surveying, you’ll be able to get into their hearts and minds. And that can make a big difference in increasing employee loyalty and productivity in a down economy.
If you’d like more information on this topic, read our white paper titled The Top 11 Ways to Increase Employee Loyalty.
Kyle LaMalfa, Best Practices Manager and Loyalty Expert, Allegiance