Loyalty is important for any organization. Churn creates a lull in productivity and drags down collective employee morale. Loyal employees means a happy workforce, a productive company and a healthy bottom line. Few organizations do employee loyalty or customer loyalty like American Express. Check out three of their top recommendations to maintain loyalty in your organization.
- Understand Your Market. Whether you have a young workforce, an older workforce or a variety make sure that when you target loyalty programs and rewards you can offer incentives that your employees will be excited about. If your loyalty program is not effective and motivating to your workforce you will not get the ideal return on investment.
- Provide Choice. Not all of your employees are looking for the same thing. When providing loyalty rewards try flexible gifts like gift cards. There is a fixed cost for the employer and your employees get ot chose from a range of options. The working mom can bring home dinner from Boston Market, the car enthusiast can pick up accessories at AutoZone and the weekend warrior can get some of their gas taken care of at Speedway. Give everyone what they want, with the power to choose.
- Be Accessible. Employees stick around because they feel supported, are given opportunities for professional development and recognize an opportunity for growth. Just because an employee has been around for a while doesn't mean you shouldn't pay them attention. Ensure all of your employees have support at all times.
For more tips on employee loyalty from American Express, check out this article from Colloquy.
