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Employee loyalty

#HR News
Human capital is not far from being the variable responsible for an organization's destiny. In exemplary models of developed societies, those that have concentrated their efforts on perfecting their human capital have today reaped the rewards of this effort, thanks to success on all levels, whether in terms of social, economic or even environmental development.
Today's business world is faced with a unique context, linked to the availability of respectable quantities of material resources, which calls into question the question of having competent, committed and motivated human capital to create the difference, and put one's company in an advantageous position.
This discussion brings us back to a key concept in human resources management: employee retention.

1. What is employee retention?

The human resources management approach includes the organizational objective of retaining productive, talented workers and reducing turnover by fostering a positive work atmosphere to promote commitment, showing appreciation to employees, offering competitive compensation and benefits, and encouraging a healthy work-life balance.
Employers are particularly interested in retaining employees during periods of low unemployment and increased competition for talent. To retain employees, organizations are using HR technology to recruit, integrate, engage and recognize workers, as well as to offer greater work flexibility and modern benefits such as physical and financial wellness programs.

2. The importance of employee loyalty ;

It's more important to build employee loyalty, especially in terms of team spirit and workplace cohesion, so that workers can trust and depend on each other.
Reduced productivity and competitive advantage are among the most significant losses when talented employees leave an organization. High staff turnover rates can undermine an organization's ability to carry out its mission due to continuity problems, loss of corporate knowledge, and the high costs of replacing departing workers and training new replacements. Employee departures can also demotivate and further encourage employees to leave the organization.
Another negative effect of turnover is the impact on customers, who notice that they are dealing with a steady stream of different people. High turnover usually signals to customers that there's something wrong with the company.

The digital solution: a tool for building employee loyalty

Several types of HR software are available, including HR information systems, human resources management systems, human capital management systems, applicant tracking systems and payroll systems.

New HR software technology manages flexible schedules and work environments that combine on-site and remote work scheduling for each employee, as well as space requirements such as shared offices, hospitality, customizable work centers and conference spaces. These tools can also play a role in managing employee retention efforts. In addition, HRIS systems integrate tracking and management elements, such as absence and leave tracking, expense reports, pay slips, and many more options.

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