Stay informed and ready to meet both everyday challenges and long-term planning and policy-making goals, with focused news, practical information, and strategic insights on all HR-related developments.
Jan. 7 — Slightly more than half (52 percent) of employers view their workers as less loyal than five years ago, while only 11 percent view employees as more loyal, according to a survey released Jan. 6 by the American Management Association.
Respondents to the survey stated that declining employee loyalty harms organizations by causing low morale (84 percent), high turnover (80 percent), disengagement (80 percent), growing distrust (76 percent) and lack of team spirit (73 percent).
Despite the negative effects, 56 percent of employers also report that promoting employee loyalty is not a major focus of their organization, but is valued nonetheless.
According to AMA, devoted employees know the business and focus on the job, and there is less alienation and more engagement among loyal workers.
Furthermore, one-third of surveyed senior leaders said they believe employee loyalty has a direct relationship to profits, AMA reported.
Sam Davis, vice president of AMA’s customized consulting solutions, told Bloomberg BNA in a Jan. 7 interview that in order to foster greater employee loyalty, HR should emphasize the value of ongoing development programs and continuous learning opportunities, and focus on helping supervisors understand how to effectively communicate with employees and give them clear objectives for success.
Developing a productive manager/employee relationship is a great way to foster loyalty, Davis said. “Managers should engage employees in decisions about their work and give input into the how, why and what they do,” he said. “This will go a long way to help employees to become more personally invested, interested in the outcome and intrinsically rewarded by their work.”
AMA found that the perceived decline in loyalty is even more pronounced at large organizations. Nearly two-thirds (61 percent) of respondents at companies with more than 1,000 employees consider employees to be less loyal than five years ago, compared to 44 percent of respondents with fewer than 1,000 employees.
The survey's 1,213 respondents included senior-level business, human resources and management professionals, and employees drawn from the AMA database.
To contact the reporter on this story: Genevieve Douglas in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Simon Nadel at email@example.com
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)