Employee Loyalty
ABSTRACT:
Researching the relationship between Company Culture and Employee Loyalty will help company’s leader be able to structure a business in which employees contribute most to its development.
In this research, the four questions will be focused are:
1. What is the Company culture?
2. What is the employee loyalty?
3. Will the innovation in Company Culture results in better Employee Loyalty?
4. What are the implications of the study in Vietnam?
Result of this research showed “There is a Positive Correlation between Company Culture and Employee Loyalty” is drawn out. Obviously the innovation in Company Culture will impact on improvement of Employee Loyalty, which results in Positive working performance and Long-term working commitment.
INTRODUCTION:
The term “Brain-drain” is now becoming popular in Vietnamese business society to describe the reality of high-skilled and long-term experienced employees of a company moving to other organizations. Moreover not only the elite labor forces take it very easy to change their jobs but also a lot of young and fresh-employed people are usually jumping from one to another. The leaving of key persons in the organization is considered as a lost in human resource investment and it is also a seriously damage to other employees’ loyalty and even it is a great lost in company culture. Furthermore human resource experts said the cost of hiring and training new succeeded staff is almost 10 times in comparison with keeping the current qualified employees.
Now is the time we raise a question: “In common cases, why a high qualified employee leaves his current hiring memorable company for other or just become discouraged and self idle in the work?”; The answer probably is his loyalty to the company could be changed. In order to keep and encourage excellent employees in the company, one of the best ways are company’s top management must improve the working environment or to a broaden extend is to build the company culture.
Researching the relationship between Company Culture and Employee Loyalty will help company’s leader be able to structure a business in which employees contribute most to its development.
In this research, the four questions will be focused are:
1. What is the Company culture?
2. What is the employee loyalty?
3. Will the innovation in Company Culture results in better Employee Loyalty?
4. What are the implications of the study in Vietnam?
Result of this research showed “There is a Positive Correlation between Company Culture and Employee Loyalty” is drawn out. Obviously the innovation in Company Culture will impact on improvement of Employee Loyalty, which results in Positive working performance and Long-term working commitment.
INTRODUCTION:
The term “Brain-drain” is now becoming popular in Vietnamese business society to describe the reality of high-skilled and long-term experienced employees of a company moving to other organizations. Moreover not only the elite labor forces take it very easy to change their jobs but also a lot of young and fresh-employed people are usually jumping from one to another. The leaving of key persons in the organization is considered as a lost in human resource investment and it is also a seriously damage to other employees’ loyalty and even it is a great lost in company culture. Furthermore human resource experts said the cost of hiring and training new succeeded staff is almost 10 times in comparison with keeping the current qualified employees.
Now is the time we raise a question: “In common cases, why a high qualified employee leaves his current hiring memorable company for other or just become discouraged and self idle in the work?”; The answer probably is his loyalty to the company could be changed. In order to keep and encourage excellent employees in the company, one of the best ways are company’s top management must improve the working environment or to a broaden extend is to build the company culture.
References: Thorsen, D. (unknown date) Definition of Corporate Culture. Culture Builders Corporation. Retrieved March 17, 2006, from http://www.culturebuilders.com/definition_of_corporate_culture.htm The New York Times Company Investor Relations. Press release. Retrieved March 15, 2006, from http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=NYT&script=461&layout=-6&item_id=4... Navigos Group. Online survey results. Retrieved Mar 16, 2006, from http://www.vietnamworks.com/survey/survey_lists.php LG Electronics (2001). Fighting spirit – Think differently. 2001 Post conference.