Is employee loyalty truly a relic of the past? To shed light on this phenomenon, we turn to Roberta Matuson, a globally recognized authority on leadership and talent maximization. Roberta is the author of "Talent Magnetism" and has been featured in publications like Fast Company and Forbes, where she discusses strategies for attracting and retaining top talent.
In an era where switching jobs every couple of years is common, how do you define 'employee loyalty' today? Is it about tenure, or is there more to it?
Employee loyalty is about people giving their all while employed by you. I tell my clients that it’s better to have a fully engaged employee, who is loyal for a brief period of time, than an employee who has one foot out the door all the time.
People don’t work for companies. They work for people. Make sure the people you’re placing into supervisory and management roles are worthy of these positions.
Do employers still raise an eyebrow at candidates with a history of job-hopping, or has the stigma faded in today's dynamic job market? Are there sectors where frequent moves are seen as a badge of honor?
The days of evaluating candidates based on longevity are long gone, and that’s a good thing. Lots of great people have lost their jobs due to no fault of their own. This means you have a wonderful opportunity to pick up talent that may not have been an option, years prior.
When hiring, ask yourself if a candidate will be adding value to your team. If the answer is yes, move forward with the interviewing process.
What are the most effective strategies you've seen companies implement to reduce turnover rates?
Hiring the right people from the start. Companies mistakenly assume that hiring managers know how to hire, yet very few leaders have been properly trained in how to assess candidates. I teach leaders how to do this in my Selecting for Success program, which has resulted in my clients slashing their employee turnover in half.
Being very careful whom you let into management. People don’t work for companies. They work for people. Make sure the people you’re placing into supervisory and management roles are worthy of these positions. If they’re not, you’re at risk for losing great people, which in the end will cost your company a ton of money.
What practical steps can companies take to cultivate genuine loyalty among employees without resorting to gimmicks like trendy office perks?
The best way to cultivate employee loyalty is to treat people the way you’d like to be treated. Do your best to offer employees the opportunity to grow where they’re planted. Give them something they can’t get elsewhere - like having the opportunity to work with a great leader.
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Learn more about retention in your team: Roberta@matusonconsulting.com
