Upside of downturn: employee loyalty on the rise

More than a third of employees surveyed have become more loyal to their companies after the economic downturn as the difficult conditions helped in strengthening bonds between workers and bosses, global workforce solutions provider Kelly Services said.

According to the global survey, conducted between early October 2009 and end of January 2010, around 36 per cent of the respondents in India said the economic downturn has made them more loyal, while five per cent said it has made them less loyal.

At the same time, 58 per cent said the downturn has made no difference.
 
Those workers who are more loyal to their employers attribute the shift to positive management, positive morale, and pay levels that have improved or remained steady, the survey stated.
 
However, those who are less loyal believe it is due to falling pay, poor management and low company morale.
 
"Employers who have communicated openly with their staff about difficult economic conditions and tried their best to look after staff, have been able to build strong levels of trust in their firms. This heightened loyalty is likely to become a real advantage, with a more committed and focussed workforce, as the economy recovers," Kelly Services Managing Director India Kamal Karanth said.
 
Other key findings of the survey revealed that close to 60 per cent of respondents feel "totally committed to their current employer".

When asked to name the one thing that would make an employee more committed to their job, 52 per cent cited 'more interesting or challenging work', followed by 'more meaningful responsibility' (21 per cent), the Kelly Services survey said.

In assessing a firm's reputation, employees place most weight on the quality of its leadership, products and services and employees.

Least important are features such as global presence, financial performance and initiatives aimed at fostering corporate social responsibility, it said.
 
"When we look at the things that motivate people in the workplace, it's clear that opportunities for personal growth and development are critical, as is the chance to perform stimulating and challenging work," Karanth said.
 
"Pay is certainly a motivator but it's not as big as some imagine, which means that employers have to examine a broader range of employee conditions and business features if they want to have the workforce performing at its best," he added.
 
The findings are part of the Kelly Global Workforce Index, which obtained the views of about 134,000 people, including over 4,000 in India.