After spending all of the time and money to recruit a new employee, it is very costly when valued employees decide to resign after only one or two years of service. All of the money spent on recruiting and training is lost. That is why it is very important for businesses to foster Employee Loyalty. Even during a bad economy with lots of layoffs, it is important to keep the best employees from leaving. The best employees often know that they can find another job at any time including during a recession. Businesses should not give up on efforts to increase loyalty even during bad times.
The key to retaining employees is to make them feel that they are valued by the company. There are many instances when it is not required to give employees more money. In fact, many employees will leave companies anyway even when there is more money. That is where BreakAway Loyalty comes in. For example, a $50 increase in a paycheck isn’t appreciated very much. Many people won’t notice it at all. However, if the $50 comes in the form of a physical gift card that’s in an envelope, the employee will appreciate the gift a lot more. Even if the gift certificate is electronic, most employees will have a greater appreciation if it looks like a gift.
There are other ways to build an employee loyalty program that can result in points and prizes. For example, increasing the number of years of service can be one way to gain points. Another way to gain points is to get a promotion. And those who win appreciation awards can get points as well as a paper certificate. As employees accumulate points, the can attain new levels that are kept even if points are redeemed. This is how companies can show their appreciation to employees without having to give exorbitant salary increases. And the best part is that the cost of running this type of loyalty program can be extremely low. It’s a lot cheaper than giving another raise in salary. Those who want to learn more loyalty programs for employees should Click here for more information.