One of my FB contacts posted this: “I work for money. If you want loyalty, hire a dog”. How do you like?
One thing is we have thousand of publications in many business medias about the loyalty and its importance nowadays. Not to mention the fact that the money alone is not enough anymore. Otherwise, HRM would be a waste of time. Just pay good money, and that’s it.
On the other hand, people do change their job because they got a better offer. This “better” often can be stripped down to the bigger salary. So what was that? Just saying aloud something we all know but shy to accept? Is loyalty a feature of a dog only or human beings loyal by nature as well? And how the business can get this loyalty? Moreover, how far the commitment goes? Can we measure loyalty in USD?
I’d take the famous words “Do what you can with what you have where you are” (c) Roosevelt as the recommendation to the both sides. The business should do maximum it can in its current circumstances to win the loyalty of the employees. The employee should remember the loyalty pays back. And so does reputation.