Four Ideas To Increase Employee Loyalty and Lower Employee Turnover

Employee turnover isn’t just a bummer–it’s a business expense. One study by the Center for American progress suggests it costs as much as one fifth of an employee’s salary to replace that employee once they’re gone. Of course, sometimes change is inevitable–it may be that an employee has other passions they want to pursue, or that there are not currently any promotional opportunities within your organization. And what’s more, it’s becoming increasingly common for employees to switch jobs at least every five years. But employee loyalty and employee engagement has such an important impact on productivity that it’s worth exploring any options for retaining employees as long as possible.  Try these tips to keep valued employees in your organization.

Recognize Your Employees

One of the top three factors which determine employee engagement is their relationship with their immediate supervisor. The majority of employees (up to 70%, according to Gallup’s State of the American Workplace report) in the US do not feel engaged with their workplace–and about that same number do not feel appreciated by their managers. Recognize employee achievements, both publicly and privately.

Show Employees That They Matter

There are more ways to demonstrate that you value your employees than big bonuses. Put your team’s health and safety first. Make sure your workplace is kept clean, that everyone has adequate sick days and access to healthcare, and monitor any workplace  hazards closely. Keep your workplace secure with a quality security system–check out our door fingerprint locks.

Make Employees’ Lives Easier

In theory, modern technology should make work life more streamlined than ever before–but sometimes it feels like there are too many systems to keep up with. Find ways to simplify your software.

For instance, think about passwords. Chances are, there’s a door code you use to enter the building, one to log into your computer, one you use to clock in…. and on and on. What’s more, they may change regularly in an effort to maintain security. Biometric technology can be integrated into all of these processes. You’ll never need to update your irises or fingerprints. FingerTec USA offers our own software and hardware. We also offer BioBridge, a program developers can use to incorporate biometric technology into your existing software.

Offer Flexible Work Options

Remote workers are good for business–learn all about how here. With a variety of online and mobile time tracking solutions (such as this one, which can even let employees clock in via social media), it’s easier than ever to manage satellite employees.

What benefits earn your loyalty? And how do you try to incorporate that insight into your management style? We’d love to hear from you in the comments!