Fox Business
Expand
Browse All Video
Watch Live

You're watching...

How to Build Employee Loyalty

Details

  • Description

    Diane Bergeron shares on tips on how you can retain top talent for your business.

  • Duration 5:18
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Welcome back everybody okay our next guest stays -- -- -- on joining us from Ohio assistant professor.

At the weather -- school of management at case western ideal -- right.

Saying its version Regina okay thank you -- coming on professor -- welcome.

I suspect is -- how to build employee loyalty right now get employees to stay with the company in the job market's getting better and sometimes that means.

You might be more inclined to find -- job somewhere else so hasn't lost out there so many other concerns that they can't get their talent their top talent to stay.

How do you incentivized that.

Well.

I think people overestimate the importance of pay in keeping people you know yes people work for pay but I think more important things are doing interesting work.

And being able to have a -- make a difference an organization and but also the you can limits some of that turnover by being a little more selective on the upfront hiring process he does appear more rigorous and how you -- people who free bring them and the probably going to be more likely to -- Right so it all starts with the hiring process and AG think that's something that's being done very diligently -- kind of more.

Slipshod let's get it done -- need to fill that position.

I think that's a good question I think it varies greatly by the organization.

I think you have a lot of organizations that are very rigorous about it.

And then you have some organizations where you know the attitude is more -- let's just get bodies and here you know and I think.

The thing is as in with most things in life either you pay now or you pay later.

So if you're more rigorous upfront -- those people are likely to be a better fit with the organization and then they're gonna stay longer.

We have a list of tips here and one of the tips is made here employees marketable what -- -- does that mean.

Well I think it's kind of a paradox.

When or because organizations my feeling good for really invest in this person and train them and get them out to a high level they're gonna be more marketable and they're gonna wanna leave.

But I think sometimes.

You know when you can leave then you're more likely -- -- so I think that's kind of attention that organizations have to deal -- Right you know when headlining her view the question I fear the most is where you see yourself from five years.

The kids.

He never did not answering you wanna show in addition of course that you probably don't wanna be in that same job in five years but you also don't -- conveyed to the -- that.

Europe just looking to move on out -- up you don't want the -- to -- not hear it.

Right so what wasn't answered your question like that in your opinion.

That's good question who -- I don't know I have an answer for.

I didn't -- -- -- -- idiot stick simply -- you know it's so personal because they think for so many people life is entwined with -- worked and where you wanna be in your life.

Is gonna have to mesh with where you -- -- be at work -- don't think being honest because I do think -- I think people actually pick up on.

Yeah is this person being honest and are they genuine.

So I think if you want to be somewhat you know so I think it's more aware.

You know where you -- -- be as far as advancement in your career in just talking about that if you want to have a lot of responsibility.

For what kind of opportunities are looking for.

Right and then we haven't chat -- -- -- viewers Chad and it and -- gaining 32 threes on ever more popular -- and he says.

Most people -- respect to build loyalty but you need to remember that respected -- two way street better to treat everybody fairly.

-- you must never have a problem and that makes -- -- rewarding employees with bonuses.

With promotions doing things like that to encourage the -- on the placing your buying the loyalty.

Well and that's the thing -- I think sometimes companies overestimate how much things like bonuses work because.

You get a bonus and even if you get a bump in pay after awhile it's just a paycheck you know so it's really about MI -- in the organization do -- have influence here.

And I changed things that I -- need to be changed and I have the -- -- to be able to do my job but the level.

But I wanna do it.

Yes you know there's a recent study by career builder's survey and basically found that just about four out of ten bosses said that they were concerned.

About losing their top talent this year.

And is sitting career builder asked employees are right if you.

Need to stay eighteen get you to stay where you need 70% of them basically said give us the money could -- We'll -- for the money.

But -- -- some other perks and among the other perks one of the most common ones was a half -- -- -- they wanted to months' time arrangements yes and also Jim that work.

You know fitness centers and a more casual dress -- Any comment on any of that.

I think all that is true and I think that's becoming just more important for the generation that's coming into the workforce now and those people will change things because organizations want to keep them -- they're gonna need to you know listen to what they want and provide especially -- Our work home with us in the form of -- Blackberry.

Tablet -- need to be answerable more than your nine to five schedule and sometimes you're gonna need.

A perk on campus on office in the office.

-- you can air your life better and hunt within hours of the -- day.

Right and I think people are willing I -- organizations that do expect our employees work longer hours Lotta times they do provide those perks because they realize they have to the employees don't have time to get it anywhere else yeah I think he's so much for coming on -- -- device that was great you're welcome okay -- -- -- -- severe weakening get everybody to watching -- is.

Load More