{"id":47370,"date":"2020-03-07T03:15:38","date_gmt":"2020-03-07T08:15:38","guid":{"rendered":"https:\/\/www.sogolytics.com\/blog\/?p=47370"},"modified":"2021-02-08T07:39:33","modified_gmt":"2021-02-08T12:39:33","slug":"the-new-face-of-company-loyalty","status":"publish","type":"post","link":"https:\/\/www.sogolytics.com\/blog\/the-new-face-of-company-loyalty\/","title":{"rendered":"The New Face of Company Loyalty"},"content":{"rendered":"<p>Recruiting, hiring, onboarding, training &#8212; while easily justifiable, bringing on a new team member can be a major drain on resources. Although new employees bring ideas and energy, they also take time to ramp up and contribute productively to the organization&#8217;s success. Retaining your strongest employees is always a smart idea, but it&#8217;s not always easy.<\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">You\u2019ve probably heard about the millennial blame-game: how millennials have single-handedly\u00a0<\/span><a href=\"https:\/\/www.chicagotribune.com\/opinion\/commentary\/ct-perspec-millennials-killing-economy-avocado-toast-rampell-1210-20181207-story.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">brought down<\/span><\/a><span style=\"font-weight: 400;\"> empires from diamond deals to restaurant chains. But have you heard about how millennials killed company loyalty?<\/span><\/p>\n<div class=\"div-spacer\"><\/div>\n<h2><b>Company Loyalty is Dead?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">For the boomers and Gen Xers, a career meant starting at one job and advancing through the ranks there. A career path was a single track that moved straight up. To leave the company was disloyal and any attempt to return would be career suicide. From an HR perspective, no one wants to hire someone disloyal\u2014someone who didn\u2019t know how good they had it until it was too late. That\u2019s a bridge burned with HR waving goodbye through the smoke on the other side.\u00a0<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">Today, though, the story is a little different. Millennials and the new up-and-coming workforce, Gen Z\u2014the two generations quickly dominating the work arena\u2014have an entirely different philosophy when it comes to their career path and loyalty. A millennial or Gen Z\u2019s career trajectory has a lot more bends, curves, and zigzags compared to a boomer\u2019s. Known as the \u201cJob-Hopping\u201d generation, statistics show that the millennial worker changes jobs with a high frequency. A study from <\/span><a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/global\/Documents\/About-Deloitte\/gx-millenial-survey-2016-exec-summary.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Deloitte<\/span><\/a><span style=\"font-weight: 400;\"> that surveyed 7,700 millennials from across the globe discovered:<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">44 percent of millennials would leave their job within two years.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Only 16 percent of millennials see themselves with their current employers a decade from now.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For the modern worker, loyalty is dead.<\/span><\/p>\n<div class=\"div-spacer\"><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-47371\" src=\"https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/03\/GettyImages-506702709-1024x527.jpg\" alt=\"millennial EX - boomerang employees\" width=\"1024\" height=\"527\" srcset=\"https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/03\/GettyImages-506702709-1024x527.jpg 1024w, https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/03\/GettyImages-506702709-300x154.jpg 300w, https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/03\/GettyImages-506702709-768x395.jpg 768w, https:\/\/www.sogolytics.com\/blog\/wp-content\/uploads\/2020\/03\/GettyImages-506702709-50x26.jpg 50w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div>\n<div><\/div>\n<div class=\"div-spacer\"><\/div>\n<h2><b>Back Again: Boomerang Employees<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Or is it? While research is showing that millennials don\u2019t stay at a job with the same lifelong dedication as previous generations, that doesn\u2019t mean that any sense of company loyalty is gone. Loyalty has simply come to look different from its traditional appearance. As LinkedIn Vice President of Global Talent Acquisition <\/span><a href=\"https:\/\/www.businessinsider.com\/linkedin-vp-explains-why-boomerang-employees-are-becoming-the-new-normal-2016-10\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Brendan Browne<\/span><\/a><span style=\"font-weight: 400;\"> said, &#8220;The concept of loyalty has simply evolved.&#8221;<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">Rather than staying power, loyalty is returning power.<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">The symptom of this new definition can be seen in the growing trend referred to as \u2018Boomerang Employees.\u2019 These are the people who leave a company for new opportunities, better salaries, or more relevant circumstances. There are generally no hard feelings for these departing individuals. Sometimes to move forward people know they have to move on. It is often in this moving on experience, however, that many people realize they had it better for some reason or other at their old job and they want it back. Maybe it\u2019s because the culture was better there, the people were great, the job more satisfying. Whatever it is, there has been a rising tide of people applying to their former company and getting rehired.<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">Boomeranging back to a old job has become more and more of an accepted practice. Among the 1,800 HR professionals surveyed by <\/span><a href=\"https:\/\/www.businesswire.com\/news\/home\/20150901005843\/en\/They%E2%80%99re-Back%21-New-Survey-Reveals-Changing-Mindset-About-Boomerang-Employees-and-the-Organizations-They-Once-Left\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Kronos<\/span><\/a><span style=\"font-weight: 400;\">, 76 percent indicated they would be agreeable to hiring boomerang employees. This is a huge shift from HR conventional wisdom that argued against rehiring.<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">Millennials and Gen Z\u2019s change jobs more frequently than previous generations did. With this increased job mobility, millennials who leave one position for a growth opportunity elsewhere will just as easily consider going back to previous employment. These millennials who boomerang do so because of several reasons\u2014the most significant one being loyalty to a company.<\/span><\/p>\n<div class=\"div-spacer\"><\/div>\n<h2><b>Change It Up<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The modern workforce\u2019s loyalty is not gained by the promise of a stable job and good benefits for life, anymore. Loyalty for employees today resembles more of customer brand loyalty. Treat your employees right by providing them benefits, flexibility, engagement, and opportunities to advance and you\u2019ve won a raving fan. In answer to the question <\/span><a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/global\/Documents\/About-Deloitte\/gx-millenial-survey-2016-exec-summary.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Deloitte<\/span><\/a><span style=\"font-weight: 400;\"> posed to millennials, \u201cWhat are the most important values a business should follow if it is to have long-term success?\u201d the majority said, \u201cbusinesses should put employees first, and they should have a solid foundation of trust and integrity.\u201d<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">When these workers leave their employer for new horizons, rather than watching the bridge burn they walk away after a good-natured handshake atop the bridge. It\u2019s not uncommon for those same employees to cross back over the bridge for both their own and the company\u2019s mutual benefit.<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\">While not all HR managers have embraced the boomeranging employee, if the employee is the right fit for an available position, then there are many reasons to consider rehiring them:<\/span><\/p>\n<div class=\"div-minispacer\"><\/div>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They are cheaper and quicker to onboard. Having been through the onboarding process once before, returning employees benefit from a more efficient start-up period.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They are already a good culture fit. If the employee was hired and left on their own accord on good terms, then the chances are that they already fit well with the existing company culture.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">They combine the experience they had at the company with the new skills gained from their time at other organizations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Companies that invest in their employees\u2019 loyalty not only retain employees; they bring back the good ones.\u00a0<\/span><\/p>\n<div class=\"div-spacer\"><\/div>\n<div class=\"div-minispacer\"><\/div>\n<p><span style=\"font-weight: 400;\"><strong>Ready to earn employee loyalty?<\/strong> Start by measuring employees\u2019 satisfaction and loyalty with <\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.sogolytics.com\/employee-experience-survey\/\" target=\"_blank\" rel=\"noopener\">SoGoEX<\/a>, our Employee Experience tool<\/span><span style=\"font-weight: 400;\">. Request a demo today!<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recruiting, hiring, onboarding, training &#8212; while easily justifiable, bringing on a new team member can be a major drain on resources. Although new employees bring ideas and energy, they also take time to ramp up and contribute productively to the organization&#8217;s success. Retaining your strongest employees is always a smart idea, but it&#8217;s not always easy. You\u2019ve probably heard about the millennial blame-game: how millennials have single-handedly\u00a0brought down empires from diamond deals to restaurant chains. But have you heard about how millennials killed company loyalty? Company Loyalty is Dead? For the boomers and Gen Xers, a career meant starting at one job and advancing through the ranks there. A career path was a single track that moved straight up. To leave the company was disloyal and any attempt to return would be career suicide. From an HR perspective, no one wants to hire someone disloyal\u2014someone who didn\u2019t know how good they had it until it was too late. That\u2019s a bridge burned with HR waving goodbye through the smoke on the other side.\u00a0 Today, though, the story is a little different. Millennials and the new up-and-coming workforce, Gen Z\u2014the two generations quickly dominating the work arena\u2014have an entirely different philosophy when it comes to their career path and loyalty. A millennial or Gen Z\u2019s career trajectory has a lot more bends, curves, and zigzags compared to a boomer\u2019s. Known as the \u201cJob-Hopping\u201d generation, statistics show that the millennial worker changes jobs with a high frequency. A study from Deloitte that [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":5040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[156],"tags":[407,385,405,408,406],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The New Face of Company Loyalty - Sogolytics Blog<\/title>\n<meta name=\"description\" content=\"Company loyalty used to mean staying with the same organization for a long time. 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