Home » Our Blog » Love the One You’re With: Three Keys to Increasing Employee Loyalty
back to the top

Love the One You’re With: Three Keys to Increasing Employee Loyalty

Share on Facebook Share on Twitter Share on LinkedIn Share on Google Plus Share through email Print it More share options

The success of your company depends on a variety of factors working in concert – a great service or product, efficient tools and protocols, strategic marketing. But perhaps most of all, the success of a company rides on the people who inhabit it.

Your employees bring your business to life and when they’re at their best, you thrive. Employees who are prospering want their companies to prosper and they’ll work to make beautiful music on your behalf. Unfortunately, the opposite is also true; when employees feel underappreciated or overworked, your reputation, turnover rates, talent acquisition costs and market value can suffer.

Encourage loyalty, productivity and professional growth among employees with two basic tools: efficiency and emotion. On the efficiency side, it’s vital that the organization be committed to streamlining the employee experience. An efficient, straightforward way to improve employee satisfaction is often shown through raises and bonuses. With Merit Matrix, Paycom’s Talent Management tool, it is easy to rate employee performance and budget for raises and bonuses; however, while monetary incentives are powerful motivators, they’re not necessarily the main determinants of a productive, happy staff.

That brings us to the emotional tools, the human element of human relations. Here are three instruments for nurturing feelings of fulfillment among your workforce, played in the key of E:

• Energy – Energize your employees by letting them pursue the aspects of your company they’re passionate about. It’s simple pride of ownership. From contributing to the internal newsletter to organizing grass roots marketing, employees reap greater satisfaction from projects they’re personally invested in. Set quantifiable goals so employees can measure results and managers can estimate the ROI of these passion projects. If you’re in need of a tool that ensures everyone is on the same page in regards to measuring these objectives click here.

• Eyes and Ears – As often as is feasible for the size of your company, meet face-to-face with every person you employ. Grab a coffee, let them talk, and listen to what they say. By understanding what your people love about their jobs and what needs improvement, you’ll retain experienced employees and keep that turnover rate low. And between meetings, keep communication lines open; good ideas can come from anyone, regardless of job title.

• Education – Crush productivity-killing boredom by allowing your employees to grow. Build time into your staff’s schedules for self-improvement; maybe it’s three hours a month to read the latest industry books or working lunches with guest speakers. If the company can afford it, support your employees’ growth through seminars, conferences or continuing education programs. Learning new skills or gaining certifications tells your staff their careers are advancing.

Since almost all employees who voluntarily leave jobs feel pushed away by dissatisfaction in the workplace rather than pulled toward a new job opportunity, you can increase retention – and productivity – by increasing the happiness of your people.

It all comes down to the harmony of working efficiently and working emotionally. If your HR processes are bogged down with redundancy and inefficiencies, consider updating them.  And if your people are confined to one-note, one-size-fits-all roles, loosen up. Treat your employees as the unique, talented individuals they are. Because when the individual succeeds, your company succeeds, too.



Author Bio: As a Human Resource Professional with over 20 years of experience, Jenny has extensive experience in management, mentoring, policy development and recruiting. Jenny's team player mentality and leadership abilities make her an elite HR Director who is always on top of the latest HR trends. She relentlessly directs associates and executives to achieve their maximum potential for both themselves and their companies.

Employee Experience

What the Employee Experience Is … and Is Not

Share on Facebook Share on Twitter Share on LinkedIn Share on Google Plus Share through email Print it More share options

HR departments and C-suites nationwide are abuzz with talk of the “employee experience,” often abbreviated as “EX.” It is the sum of all interactions, good or bad, that an employee has during his or her term of employment with a company.

As defined by author and futurist Jacob Morgan in his new book on the topic, The Employee Experience Advantage, those EX interactions can be divided among three environments that surround the worker:

  • technology
  • workspace
  • culture

The EX concept posits that all three bear equal importance, and that focusing on their long-term design results in an engaged workforce. In turn, productive and happy workers yield loyal customers.

What would improving the employee experience do for your organization? Check out this on-demand HRCI- and SHRM -certified webinar as we break down specifics. 

In addition, Morgan’s research shows that companies that invest in the EX reap rewards over companies that do not, to the tune of:

  • four times higher profits
  • three times higher revenue per employee
  • 40% lower turnover

Sounds like to build a positive employee experience all you have to do is create a utopia of benefits and perks, right?

Wrong.

What the EX Isn’t

Remember, experts define the EX as a totality of experiences that an employee has at his or her place of work, from Day 1 to either resignation, termination or retirement. Providing a positive employee experience doesn’t require satisfying employees’ every whim along the way, or ensuring that every interaction leaves employees feeling euphoric. It just means that the positives in the sum have to outweigh the negatives; you’re simply aiming to become a place where people want to work and want to come to work. After all, everyone has his or her share of negatives while on the clock, and it is unrealistic to think any office to be all unicorns and lollipops, no matter how many nap pods may be on the premises.

The Millennial Factor

With millennials projected to make up at least 50% of the workforce by 2020, employers face a tech-dependent majority that not only is comfortable with using technology in the workplace, but expects to use it (per research conducted by Adobe). Therefore, millennials are primed to be more open to embracing an EX, which relies upon technology as one of its three legs of support.

One way to support this desire for technology companywide is through implementation of an employee self-service platform. Whereas earlier generations may be used to paper-based processes — from tracking hours worked to completing benefits forms — and, therefore, may be hesitant or resistant toward cloud-based, self-service software that accomplishes the same tasks, millennials overwhelming prefer to forego the manual in favor of the technical.

In a recent millennial survey by Price Waterhouse Cooper, 60% of the millennials surveyed said that an employer’s investment into workplace technology was important when considering a job. Self-service software fits in to that category, reducing the burden placed on HR while empowering these young talented workers to take charge of entering and managing their own information.​

But again, let us caution that technology is just one of three critical components organizations must address to build a strong EX. For more information on all three pillars of the EX, download our free infographic, “Building a Strong Employee Experience: What It Is and Why It Matters.

Tags: ,
Posted in Blog, Employee Engagement, Featured, HR Management, Talent Management

Rod Lott

by Rod Lott


Author Bio: As Paycom’s Creative Services Manager, Rod Lott brings more than two decades of experience in marketing, advertising, branding and journalism. A published author and a graduate of the University of Oklahoma, he has worked with such brands as Blue Cross Blue Shield, Sonic Drive-In and OU.

Improve Employee Engagement

3 Ways to Immediately Improve Employee Engagement

Share on Facebook Share on Twitter Share on LinkedIn Share on Google Plus Share through email Print it More share options

For some employers, having happy employees is a want-to, not a have-to – it isn’t a priority. Making payroll, launching new campaigns and pleasing shareholders seems a more necessary than trying to create engaged, fulfilled employees. But happy, engaged employees are far more important to the success of a company than one might think.

What would improving the employee experience do for your organization? Check out this on-demand HRCI- and SHRM -certified webinar as we break down specifics. 

A Gallup study reported a measurable link between employee engagement and eight common metrics used to measure a business’ success:

  1. Customer Ratings
  2. Profitability
  3. Productivity
  4. Turnover
  5. Safety
  6. Theft Prevention
  7. Attendance
  8. Quality of the final product

 

In fact, companies with engaged employees show 22 % higher profitability and 147 % higher earnings per share than companies without them.

Let’s agree that happy employees are an integral part of your company’s success — so how do we cultivate them?

How to Engage Your Team

While creating an engaged team won’t happen overnight, here are three ways to begin:

1.Equip your employees

Equip your team with tools like engagement surveys to find and improve weak points. Use goal-setting tools that empower employees to reach new heights in their careers.

2. Educate your employees

People love to learn, so host a brown-bag lunch once a week and offer industry-related classes in the office. Give them tools like the Myers-Briggs personality assessment so they can learn how they work best and how to work better with others. Teach corporate culture with high-quality online learning tools that employees can work through at their own pace.

3. Empower your employees

The days of people being cogs in a machine are over—happy, creative individuals make your business better. According to Seth Godin’s Linchpin, today’s employees crave responsibility, opportunity and the authority to make decisions. Create a culture that tells every employee he or she matters. Offer chances for everyone to pitch their big ideas. Give employees control over their own career decisions with employee self-service tools.

Look at your employees as individuals — individuals who want to learn, share their talents, know they’re making a difference and be part of a business they believe in. When your employees are happy, you, your investors and your customers will be, too.

Tags:
Posted in Blog, Employee Engagement, Featured, HR Management, What Employees Want

Braeden Fair

by Braeden Fair


Author Bio: Braeden Fair produces webinars and podcasts for Paycom, in addition to writing content for the company’s blog and its employee culture magazine, Paycom Pulse. A graduate of Oklahoma Christian University, he managed social media for the college’s student life division and worked in the broadcasting departments of the Oklahoma City Thunder and the Dallas-based sports-talk radio station The Ticket.

Millennial Workplace

4 Truths About the Ideal Millennial Workplace

Share on Facebook Share on Twitter Share on LinkedIn Share on Google Plus Share through email Print it More share options

In today’s increasingly technology-heavy workplace, the millennial workforce continues to grow and thrive.

According to the Pew Research Center, the millennial labor force surpassed Generation X as the largest in the workforce in 2015. In fact, Pricewaterhouse Coopers estimates that millennials will make up 50% of the workforce by 2020.

Listen now to our HR Break Room podcast episode, A Hire Purpose: Build a Thriving Culture for Millennials

As they continue to grow and baby boomers increasingly retire, more millennials will assume management positions. In the recent two-part episode of Paycom’s HR Break Room podcast, guest Adam Smiley Poswolsky, author of The Quarter-Life Breakthrough, spoke about what businesses must do in order to make that transition as seamlessly as possible.

Here are four key takeaways from that conversation.

1. Purpose-driven workplaces draw millennials.

With 90% of millennials wanting to use their skills for good, they are demanding that companies provide purpose and meaning, so that their day-to-day work is not just an 8-to-5 job, but also something that defines them. They want to feel valued in their work and that their work is making a difference, so much so that half of them will take a pay cut to find work that matches their values!

In order to attract and retain top talent from this generation, creating a culture of purpose and meaning is essential to organizational success.

2. A transparent workplace is critical.

 In order to meet the needs of today’s workforce, employers should strive to be clear about what working there is like. The most forward-thinking organizations realize that millennials are going to research company culture, whether through Glassdoor or the grapevine, so recruitment efforts should clearly communicate the benefits and mission. Training and technology are especially popular among millennials, who are seeking purpose-driven opportunities that offer the opportunity to leave an impact.

With so many young people in the workforce, the workplace has become an extension of the classroom. Unlike baby boomers and earlier generations, millennials have to do more than to be good at just one thing and ride that skill for the next 40 years, thanks to the nature of technology and the state of the economy. In order to retain the most ambitious employees, you have to keep teaching them new desirable skills.

3. Millennials operate by a management style all their own.

A Global Workforce report states that 25% of millennials in the workforce will take on management positions. With the same report indicating that 3.6 million baby boomers will retire by the end of this year, it is essential for organizations nationwide to begin adjusting to the needs of the millennial management style.

Millennials are huge fans of collaboration and always looking for new ideas to get things done faster and more efficiently. They prefer co-leadership to more traditional hierarchical structures and are not as interested in doing things because “that’s how it’s always been done.” Even if not every idea is accepted, millennial managers like to give their talent room to try new things … and even room to fail.

This emerging style is going to prove especially important as the next generation of employees, Generation Z (born between 1994 and 2010), begin to enter the workforce. They value authenticity and want to work in an organization where their ideas are heard, regardless of job title. This interest in transparency and innovation makes them a more natural fit to be led by millennial managers.

Under New Management: The Rise of Millennial Managers and Generation Z

4. Millennials and Generation Z embrace learning through technology.

Collaboration and transparency are easier to achieve through technology, a key building block to any successful employee experience. Today’s top talent find and apply jobs through the internet, and then learn more about prospective employers the same way. Once they set themselves on a career path, they have become accustomed to learning new skills through YouTube videos or listening to podcasts.

 

Both Millennials and Generation Z have grown up having instant messaging tools, video streams and high-speed internet connections at their fingertips at all times. To create a seamless and attractive employee experience, employers should ensure such tools be incorporated into the workplace, at every stage from onboarding to retirement. Companies that truly understand how to use such tech tools as online learning platforms and surveys will be able to create an organization that is transparent and collaborative, and a culture that is efficient and goal-driven.

Tags: , , , ,
Posted in Blog, Featured, Millennials

Caleb Masters

by Caleb Masters


Author Bio: Caleb is the host of The HR Break Room and a Webinar and Podcast Producer at Paycom. With more than 5 years of experience as a published online writer and content producer, Caleb has produced dozens of podcasts and videos for multiple industries both local and online. Caleb continues to assist organizations creatively communicate their ideas and messages through researched talks, blog posts and new media. Outside of work, Caleb enjoys running, discussing movies and trying new local restaurants.

X

Learn more about Paycom

  • Are you a current Paycom Client?

    Yes

    No

    • Talent Acquisition

    • Time & Labor Management

    • Payroll

    • Talent Management

    • HR Management

  • Subscribe me to Paycom's newsletter.

*Required

We promise never to sell, rent or share your personal information with a third party unless required by law. By submitting this form, you accept our Terms of Use and Privacy Policy.