{"id":2967,"date":"2017-07-10T13:12:44","date_gmt":"2017-07-10T13:12:44","guid":{"rendered":"https:\/\/www.dailypay.com\/2017\/07\/10\/employee-loyalty\/"},"modified":"2020-09-25T14:23:21","modified_gmt":"2020-09-25T14:23:21","slug":"employee-loyalty","status":"publish","type":"post","link":"https:\/\/www.dailypay.com\/resource-center\/blog\/employee-loyalty\/","title":{"rendered":"4 Ways to Improve Employee Loyalty"},"content":{"rendered":"\n

Employee loyalty is more important than ever. The current labor market is considered uncomfortably tight – a situation that creates an excess need for workers. This makes it difficult to hire for open positions and makes it increasingly expensive to lose valued employees.<\/span><\/p>\n\n\n\n\n\n\n\n

Employers should follow these three steps to improve employee loyalty.<\/span><\/p>\n\n\n\n

1. Be invested in your employees\u00a0<\/h2><\/div>\n\n\n\n

Employees are asking for a helping hand when it comes to covering essential expenses – <\/span>in <\/span>MetLife\u2019s<\/span><\/a> 1<\/span>0th annual study of employee trends, 40% of employees say they want help in achieving financial security. <\/span>And as a result, a popular trend for new employee benefits in 2017 is the shared responsibility of employees\u2019 financial wellness.<\/span><\/p>\n\n\n\n

How widespread is the issue?\u00a0<\/h3><\/div>\n\n\n\n

It turns out financial insecurity knows no age limits. In a <\/span>PricewaterCoopers<\/span><\/a> employee wellness survey, they found that of the employees who find it most difficult to meet their household expenses on time each month, Gen Xers are the highest generation at 50% of all employees. 41% of millennials claim it is difficult for them to meet their financial expenses each month.<\/span><\/p>\n\n\n\n

The same study shows that 54% of millennials are more likely to say that their loyalty to their company is influenced by how much the company cares about their financial well-being.<\/span><\/p>\n\n\n\n

Employers who invest in their employees create an indispensable relationship. Employees are able to achieve their future financial goals and feel secure in their careers, while employees reap the benefits of employee loyalty.<\/p>\n\n\n\n

There are a variety of ways you can show you are invested in your employees and their financial wellness: financial education opportunities, employee loans, and <\/span>daily payment<\/span><\/a> are a few options.<\/span><\/p>\n\n\n\n

If you are invested in your employees, you have begun your company\u2019s path toward improved company culture.<\/span><\/p>\n\n\n\n

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Learn more about how on-demand pay attracts and retains employees.<\/h3><\/div>\n\n\n\nREAD THE EBOOK<\/a><\/span>\n\n\n\n
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2. Improve company culture\u00a0<\/h2><\/div>\n\n\n\n

Culture in the workplace is the next step to increasing employee loyalty. Culture seems to be more of a buzzword than anything and it usually seems isolated to particular industries or start-up companies, however, the fact of the matter is culture exists in every organization, whether it is by design or by default. Improving company culture can go a long way with your employees.<\/span><\/p>\n\n\n\n

The benefits of an improved work culture abound:<\/strong><\/h3><\/div>\n\n\n\n