Employee Loyalty is Dropping Around the World. Here’s How to Turn It Around

February 07, 2012
Employee Loyalty is Dropping Around the World. Here’s How to Turn It Around

It’s a tough time for HR: Regular career-hopping is now considered par for the course, and markets are unstable at best. It’s no surprise then that employee loyalty is dropping—not just in North America but around the world. According to Mercer Consulting, a major human resources consulting firm based in New York City, between 28-56% of workers are looking to leave their jobs.

Mercer interviewed 30,000 workers in 17 workplaces in countries including Canada, the US, Brazil, Singapore and India. In Brazil, the change since the survey was last conducted in 2006 was the most remarkable. The percentage of employees looking to change jobs was up a whopping 44%. And over 44% of workers surveyed between 16-34 years old were seriously considering leaving their jobs.

So what can you do to change the tide of diminished employee loyalty? It’s not what you would think: Base pay came up as the sixth most important factor contributing to job satisfaction. What was most important was “being treated with respect,” followed by “work/life balance,” the type of work, the quality of co-workers, and the “quality of leadership of the organization.”

Reducing job-hopping is a matter of giving employees the recognition they’ve earned, and encouraging a company culture that values everyone’s work. Awarding achievements and celebrating service publicly is a regular reminder that you see your staff’s contributions. A loyal culture means fostering dedication by offering your workers the same commitment and flexibility they offer you every day. With 150 years of experience in the employee-recognition industry, we know that if you reward your staff and you’ll be reaping the rewards, too.

 

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