More than 50% of new managers fail within 18 months, according to a study published in Inc.com.
One-third of executives in Fortune 500 companies do not make it past 3 years.
The main reason – they drive away key personnel.
2 out of every 3 people who quit cite lack of appreciation – according to Forbes.com
“People do not leave bad jobs. They leave bad managers.”
According to Harvard Business Review – treating employees like commodities is even more common now than ever before.
For as long as we treat employees like commodities, as a means to an end, we will never get their loyalty.
Everyone wants loyal employees, but not everyone is willing to do what it takes to earn their loyalty.
It all starts at the hiring process – whether candidates are treated with respect then.
A recruiter called me once and said that he knows that I have been looking for some time for someone with a rare skill, and that he has someone with that skill. He said he will not charge his recruitment fee because the candidate has a huge gap on her resume, and nobody wants to hire her.
I said – all I care whether she can do the job. She passed the interviews with flying colors and ended up a great and highly loyal employee. A year later she told me why she had that gap on her resume.
She had a child with autism, and her husband dumped her and their child. She ended up not working because she had to take care of the child.
If we do not have a heart, we do not deserve to be leaders.
Loyalty earned must be loyalty kept.
Loyalty is destroyed by:
- lack of appreciation and support
- lack of opportunities to grow and learn
- lack of integrity by superiors
- lack of trust and respect
- lack of recognition and proper financial compensation
- excessive control known as micromanagement
Employees will stay loyal if they are appreciated, trusted and empowered: