Assets are an important element in the valuation and worth of any organization. They are valued, protected, accounted for, insured and audited. This leads me to pose the question: What is the value of a loyal and committed employee? What about a customer?
How can you put a monetary value on an employee who is loyal? Perhaps it is a given that employee loyalty is important to the success of the company. May I suggest that we often overlook the benefit of employee loyalty. Employee loyalty plays into the benefit of the entire business enterprise.
The customer relationship chain is the result of high customer satisfaction, which is generated by loyal, engaged, caring and focused employees. The customer experience is heavily inﬂuenced by loyal company employees.
Customer loyalty drives both profitability and the reputation of the company. ls employee loyalty in your company’s vocabulary? Is it an integral part of the fiber of your company? It is acknowledged and rewarded?
Upon reflection, we would all say that loyalty is important to us; however many of us do not make it a priority in our businesses and personal lives. Loyalty generates confidence and provides us with a sense of protection and good karma in this high-stress world.
Loyalty frees us to form deeper bonds of trust, and nurture good communications. Loyalty is the gift that keeps on giving. Loyalty opens the door for others to enter your life. Loyalty should be at the core of your company’s value proposition. Companies with high customer and employee loyalty have a huge edge over their competitors.
The facts are that loyal customers and employees have both a professional and emotional connection with your company. The danger we must all be aware of is to never take a loyal customer or employee for granted.
An engaged, inspired, professional and passionate salesforce is the “face” of your company. Who are the goodwill ambassadors in your company?
Loyalty is a two-way street. The company should provide challenges, career growth and development. Employees embrace loyalty by their job performance and creativity.
Indeed, your most powerful force to brand and market your company is word of mouth. It is the essence of employee loyalty. Leadership and loyalty drives employee loyalty, which impacts brand and customer loyalty.
Loyalty goes beyond your product offering. It is listening to and understanding the needs of your customers, and yes, your employees. It is walking in the shoes of your customers. The needs and desires of your customers are paramount. Involving your customer in managing the product category lays the foundation of customer satisfaction and loyalty.
What is your company’s point of differentiation? And does it nurture customer loyalty?
Are your employees empowered to deliver on your company’s value proposition? (Can they articulate your value proposition?) Are your employees customer-centric? Are your leaders employee centric?
Loyalty is strengthened by excelling in customer service and swiftly resolving customer issues. When is the last time you surprised and delighted your key customers? Remember your employees also are customers in the truest sense of the word.
Loyalty is a matter of trust, at all levels of the customer/employee relationship. It transcends the transactional side of the relationship and has a commitment to the long-term. Loyalty is a valuable asset that needs to be cherished and shared. Loyalty is a neverending strategy and it is either in your company’s DNA or it’s not!
“The greatest loyalty in life, above all, to thine own self be true” – Charlie Lutes
Loyalty is a decision we make and live by. It is a choice, made with thought, caring and emotion. It is the soul of our character, moral characteristics and given to those we care about freely!
Perhaps the impact of loyalty is difficult to measure. But upon reflection we have all experienced true loyalty and how it made our lives and business careers. True loyalty is in our attitudes, actions and words we live by.
Stress and pressure is alive and well in today’s demanding business environment. Perhaps this is a good time to think about the power of loyalty. It gives us hope, mutual respect, goodness, confidence and peace of mind. Loyalty unites us individually and collectively. Loyalty puts humanity back into the business environment. It gives us the energy to do great things!