JS Online: Survey finds worker loyalty up -
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Published on: 5/28/2002
Last Visited: 5/28/2002
"My sense is that the basis for loyalty has changed dramatically in the last 20 years," said Ray Aldag, a professor of business management at the University of Wisconsin-Madison.
Workers have become less committed to their employers over the years, Aldag said.He sees a decrease in mutual loyalty, where employees do whatever is needed because they know their employer will take care of them.Instead, loyalty is more likely to be a "calculative" commitment based merely on compensation, he said, which keeps an employee in place only until a better offer comes along.
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Like Beck, Aldag suggests that the best way to keep employees is to show a strong commitment to them."I do think it's critical to be thinking more and more about retention strategies," he said."It's a huge issue right now."
As an example, he referred to the 1991 offer of guaranteed job security by Northern Telecom.The company now known as Nortel said it would employ new college graduates for a minimum of three years if they hired on at any of the company's offices in Canada or the United States.
It's unclear what that did for Nortel's retention rate, but last year the company notified more than 36,000 workers of termination, according to filings with the Securities and Exchange Commission.