5 tips to gain and keep the loyalty of your staff

Even as the global economy
begins to show faint signs of recovery, times are still tough, and
businesses worldwide are still scrambling to respond. Layoffs, cutting
expenses and eliminating employee programmes are all common, knee-jerk
responses to financial pressure. But are they the right strategy for
the long term?

In
the haste to find new customers and keep the ones you already have,
it’s all too easy to forget one of the most important aspects of
customer loyalty: loyal employees. But it’s a proven fact: loyal
employees have a big positive impact on customer loyalty and retention.
So keeping employees satisfied and motivated is critical even – and
especially – if raises, bonuses and benefits are a thing of the past.
Here are a few strategies.

1. Keep communicating with employees through difficult times.
Even when the news is bad, keep your employees informed of changes
within the business so that they understand the situation. Don’t allow
gossip and hearsay to create unrest and tension within the business;
instead, build rapport and trust by being honest with employees. In
fact, try two-way communication and ask their opinions: Employees
appreciate being asked what they think, and may have some excellent
ideas for how the business can be improved.

2. Listen to staff concerns.
The quickest way to alienate your employees and damage morale is to ignore
them. While you may not be able to resolve all their concerns about
working hours, promotions and pay, the simple act of listening and
acknowledging their problems is valuable. Follow up on the problem when
and if it is appropriate to do so, and even if you cannot adequately
resolve the issue, inform the employee immediately so they at know you
at least made an effort.

3. Make sure change occurs at all organisational levels.
It’sentirely possible that staff layoffs cannot be avoided. However, to
avoid severely damaging the morale of those employees that remain, it’s
important for senior management to share some of the weight of the cuts
– either by reductions in pay, bonuses or perks. While employees
realise that some changes and cuts must be made in order to adjust to
the new realities of business, it will be easier for them to accept if
they see changes at all levels of the organisation and not just within
their own ranks.

4. Avoid micromanaging.
Your employees are likely under more pressure than ever – just as you are.
But even as expectations are raised and demands grow, now is not the
time to begin interfering in the work of your team. If you’ve done a
good job of hiring, you already have a competent group of people who
know what they’re doing, and becoming overly involved in their work may
actually cause more problems than it solves. So while it’s smart to
have an active interest in your subordinates’ work, try to avoid
stepping in until it’s clearly necessary.

5. Remember to say “thank you”.
It’s so simple, and yet possibly the most important thing you can do to
boost employee morale and loyalty. Thanking your employees for their
contributions, and recognising their hard work and accomplishments is
extremely vital, especially in a down economy when monetary bonuses and
raises are becoming increasingly uncommon.

Running a business is always difficult, and now more than ever. But with the support and commitment of talented employees, you’ll be much more likely to weather
these challenging economic times and emerge stronger.