Building an Employee Loyalty Strategy

- Now let's discuss some of the specifics…about how to build employee loyalty.…Remember, employee loyalty is that idea…that we're going to decrease employee turnover,…and we're going to increase performance…from the people we have working for us.…Employee loyalty is not just about money,…yet strangely enough for most business owners…that's the first place they go.…They say, "Well I want my employees to be more motivated,…"so I'm going to increase their pay."…The reality is there's a lot more to it than that,…and increasing pay actually has little…effect on employee loyalty.…

Let's discuss some of the things that do have a big effect.…Number one is you recognizing…that employee loyalty is a two-way street.…You want them to be loyal to you,…you should also in return be loyal to them.…Now, I'm not talking about putting up with mistakes,…as a manager and as a leader you need to correct mistakes.…You need to expect great performance,…but what I mean is that you look to hire within,…that you look to take care of people's families,…