Today’s management model is people focused. It is driven by customers and fueled by employees. The last in its role are the center of attractiveness. Loyal employees after getting well trained and compensated consider themselves the owners of the organization. Employees in such cases create customers loyalty.
When employees get satisfied they perform exactly the way they should to improve performance and influence consumers’ loyalty and leads to better financial return. Mangers should retain loyal employees and value them as assets of the organizations because they are in direct contact with customers and other stakeholders.
Layoffs of good people and loyal employees may help in cutting down costs and improvements in the financial performance of the organizations in the short run but it fires back on medium and long term bases. These loyal employees are the fuel of loyal customers they create the customer relation through their cooperation and the different skills they learned through experience and training programs.
Customer satisfaction is best achieved when relationships between customers and employees, managers and employees, and suppliers are achieved. That creates homogeneous atmosphere in the environment and make all satisfied and encourage them to perform in order to keep this valuable satisfaction in hand.
The interrelation between customer loyalty and the employee loyalty to the organization affect financial performance through:
- Work place culture and practices
- Employee loyalty.
- Customer loyalty.
- Work place loyalty.
Employees’ loyalty could be developed through plans and actions like employees’ involvement and rewards. Managers should also promote trust and respect and let employees get involve in the corporate strategy and implementation. They could discuss performance with subordinates and delegate authority to employees to have them responsible for their jobs.
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