Increase Employee Loyalty Through a Returnship Program
Employee loyalty refers to employees who are dedicated to the success of their company and consider being an employee of the company as a positive. These individuals not only stay with the company longer, but they often promote the organization to others and do not actively seek employment elsewhere. They believe it is a win-win situation for themselves and the employer.
The benefits of employee loyalty include:
Work Harder and Smarter
Loyal employees are “connected” to the company and its mission. They feel valued and appreciated and as a result will do whatever it takes to make sure their job is done well. Loyal employees also speak up when things are not handled properly and are often part of the solution to making things run smoother and smarter.
Losing talented employees can devastate a company in more ways than one. Not only is the company losing a valuable employee, but the employee is likely to have gone to a competitor taking all that they’ve learned with them. This talent drain can cause significant damage to any company.
Employee Turnover Wastes Time and Money
Hiring employees is expensive. There are recruiting costs, training costs, and ramp-up time before the employee is up-to-speed and fully contributing. Having loyal employees reduces each of these costs and the time invested in them.
Returnships Can Help
Loyalty in the workplace is not what it used to be during the Baby Boomer era when it was not uncommon for employees to stay with a company for their entire working life. Generations X, Z, and Y have significantly more opportunities and will take advantage if they do not feel loyal to their current employer. In fact, even loyal employees may not be able to say ‘no’ to a great opportunity.
Multiple studies have shown that younger employees are more engaged when they are proud of the company they work for. When they feel that their employer makes right and equitable choices for thier workforce and the community at broad.
Returnships aim to do just that.
Denying someone a fair chance at employment simply because they took a career break to raise their children or care for an ailing parent is inherently wrong. And most people understand that. A Returnship program goes a long way towards correcting this injustice and instilling a sense of pride in a company’s workforce.
At WBW, we’ve seen this firsthand. Many of the social media posts we make about the success of our partner programs draw a significant number of reactions and comments from the company’s employees. They are proud to share with their networker exactly what their employer is doing to provide opportunities to Returners.
It is this sense of pride in giving Returners a chance to re-enter the workforce that increases loyalty among a company’s workforce.