I recently finished reading Dianne Durkin’s “The Loyalty Factor” and I was honestly surprised by the book. I picked it up because customer reference/loyalty is my thing. I was extremely surprised by how universal this book is for others in the organization too. In fact, I’m handing it over to my VP of HR for her to read. I think that all HR folks and executives should take a look at it too.
I think by now we all know that happy employees make happy customers make increased profits or as Durkin writes “Employee loyalty drives customer loyalty, which drives brand loyalty.” We also know that it’s less expensive to keep a customer than it is to get a new one, so why aren’t we all focusing on employee and customer loyalty? Who knows!
Historically companies didn’t really care about being loyal to employees. People should be happy to have a job right? But, employees were expected to be loyal to the company. As the years passed, employees started being more loyal to each other rather than upper management.
This was a result of numerous things including the downfall of large corporations and as a result the jaded attitude that many employees got, companies not rewarding and listening to employees and an “us vs. them” attitude towards upper management. Companies now have the incredible opportunity to work with employees to make sure that they are heard, appreciated and loyal. One of my favorite quotes in the book is “Loyalty is not something that can be imposed; just like a paycheck, it has to be earned. It is management’s job – and its responsibility – to create an atmosphere in which employee loyalty can flourish.”
Throughout the book there are many lists of things that management and employees can do to help with loyalty. Management needs to take a close look at the loyalty of its employees because it directly translates into customer loyalty and then brand loyalty. What a great and inexpensive Marketing campaign!
Ultimately the book can be summed up by the golden rule, “treat others how you want to be treated.” If you want someone to be loyal to you, be loyal to them. You can read more about Durkin and her book here.