4 Ways Businesses Can Foster Loyalty
by Edward DuCoin
Without a doubt, the lifeblood of a business is its employees, business partners, and clients. Therefore, business owners and executives must plan and execute those practices that are conducive to receiving and maintaining loyalty from these groups.
A business that is transparent and has a firm footing in integrity is one that is experiencing success at every level, has forward-thinking leadership, and possesses solid as well as balanced entrepreneurship ideals. Loyalty is not a myth. There is no relationship business or otherwise, that flourishes if loyalty is missing from the equation. A business can foster loyalty by:
- Appreciating, engaging, and rewarding the input of employees, business partners and clients.
- Being responsive to criticisms and suggestions from employees, business partners, and clients.
- Analyzing comments and suggestions to utilize what is constructive and logical in decision making that affect the progress and future of the business.
- Ensuring that the business is interactive.
The evidence is very clear; employee loyalty leads to increased productivity, enhanced service value, and client satisfaction. On the other hand, client loyalty results in increased sales, which in turn boost the growth of the business itself. Satisfied workers go hand-in-hand with satisfied clients.
Therefore, leadership needs to set realistic expectations for employees, ensure that the workload is bearable, and create and mentor an environment that allows for creativity and job satisfaction to prosper. For this reason, open communication is vitally important in order to be abreast of the needs of employees, business partners, and customers.
When I started ORPICAL I intended to create a company that can grow to INC 500 status (I did it 3X before) and have an environment that is drama free – – as free from drama as humans can be.
What is ORPICAL? It is what we stand for:
Optimistic – We expect the best outcome for our employees and clients.
Respect – The consistent consideration of all we encounter in a courteous manner.
Passion – Engaging enthusiasm for the positive wellbeing of people, opportunities and our planet.
Integrity – To be known as individuals and a company of scrupulous integrity.
Curiosity – Be a company that is always eager to teach, learn and grow.
Altruistic – As a profitable company will we have the capital to be devoted to the welfare of others.
Loyalty – Steadfast adherence to our commitments and what we stand for as a united company.
We are not perfect, but we strive to have all interactions and relationships based on the ORPICAL model. Each letter and corresponding word is critical. Take one away and we are missing a piece of our culture. My favorite is loyalty. Search “business sales” on Google and you get 2.8 million results. A search for “business culture” will get you 728,000 results. Now a Google search for “business loyalty” will get you only 68,000 results.
Business loyalty is not a myth and we believe can be a winning formula for long-term relationships and mutually rewarding for our employees, business partners, and clients.
For more information on ORPICAL and what they can do for your business, visit their website: orpical.com