How to improve employee loyalty

Apart from the newly emerging culture of job hopping, where it is considered necessary for career advancement. Indians are naturally loyal. However since they are emotional too, a negative environment, relationship problems etc can make them want to leave. Dissatisfaction at work is the prime reason of course, but usually this does not only stem from money. What we could do to improve the satisfaction level:

Specify your expectations:Changing expectations keep people on edge and create unhealthy stress. They rob the employee of internal security and make the employee feel unsuccessful. I’m not advocating unchanging jobs just the need for a specific framework within which people clearly know what is expected from them.

The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas.

--lack of clarity about expectations,
--lack of clarity about earning potential,
--lack of feedback about performance,
--failure to hold scheduled meetings, and
--failure to provide a framework within which the employee perceives he can succeed.

The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention.

Talent and skill utilization is something your key employees seek in your workplace. They want to be able to contribute beyond the call of duty, it energizes people to be able to use their skills and abilities but when thwarted and restrained it leads to further dissatisfaction.

The perception of fairness and equitable treatment. Reward good performers but recognize the impact it will have on others. There can be no favorites in an organization. There just has to be a policy for rewards, recognitions and promotions. While u maybe encouraging someone another person may also be getting discouraged, recognize that and be fair.

Most importantly:

Your staff members must feel rewarded, recognized and appreciated. Frequently saying thank you goes a long way. Monetary rewards, bonuses and gifts make the thank you even more appreciated. Understandable raises, tied to accomplishments and achievement, help retain staff. Commissions and bonuses that are easily calculated on a daily basis, and easily understood, raise motivation and help retain staff.

Yes as a bottom line money does matter too, that's why the person came to work in the first place.How the money made him feel is what we neglect to work on.