It seems that the number of younger workers required to replace the rapidly aging workforce just isn’t there. This could result in a catastrophic shortage of qualified workers in various trades and professions in the Canadian market in the next few years. Under these circumstances employee loyalty and retention become critically important issues. We all know very well that raising wages cannot in itself be the ultimate retention strategy. Are there other solutions? What must you do to create a productive and loyal team?
Gone are the good-old days when you could crack-open a couple of beers as a reward to your staff. Anyhow, it never was the best idea. Busiess leaders need to create a culture that builds loyalty to spark a sense of belonging for their employees. The workplace remains the major source of personnel and professional accomplishment. Employees who feel that they are valued and appreciated, who feel important as human beings, will benefit from a level of motivation that breeds superior performance and loyalty.