Employers can relax a little: Employee loyalty is on the rise. Thirty-four percent of employees plan to stay with their company for two years or more, according to a recent survey by Walker Information. That may not sound like much, but the number of committed employees has climbed steadily from 24 percent in 2001 and 30 percent in 2003.
I worked at a moving and storage company last summer that worked hard to keep employees happy, and I would bet its dedicated employees far surpassed the 34 percent mark. After the spike in gas prices from Hurricane Katrina, every single employee received a $20 gas gift card—including temps like me—just in time for Labor Day weekend road trips. It was a nice surprise that didn’t depend on meeting numbers or any other performance criteria.
With over 100 employees, I’m sure that gift cost a pretty penny, but loyalty doesn’t always have to be bought. This company also gave preference to employees’ college-age kids when it hired extra summer help, published a newsletter recognizing star employees, and hosted monthly "coffee with the chairman" meetings, which seemed to be just as effective at motivating employees. How do you show your appreciation? Do you provide incentives, such as gift cards or monetary rewards, or do you have other methods that don't break the bank?
For ideas from S&MM, check out some articles on the latest in gift cards and socially responsible incentives.
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