Service management is usually defined as the point in a supply chain that connects sales and customers, but in recent years the concept has morphed from a fairly narrow aspect of overall management and strategy to a broad management orientation that addresses all facets of…
Financial Rewards Are the Only Way to Gain Employee Loyalty
Financial rewards and incentives are the only way to gain employee loyalty because actions speak louder than words.
People Like to See and Have Cash Money
Let’s face this very important fact: Most people work for someone else – the owner of a business, and that business owner wants to make as much money as they possibly can off the work of their employees. This means paying them as little as humanly – not humanely – possible to make a profit. This is wrong, of course, but until we figure out, and pursue our dream, we’re pretty much going to work to fulfill someone else’s dream. And that means we have to work for what they will pay us, what the business itself is willing to pinch out of their fat wallets. Naturally, this terrible system is one-sided, a bit unfair, and employees begin to resent their employees for their greediness and lack of compensation. So people move on to other companies that will pay them more for their work and time. People need, want, like to see and have cash money. So, therefore, financial rewards are the only way to gain employee loyalty.
People are Apprehensive about Running out of Money
For one, financial rewards and incentives keep employees loyal to a company because people are traditionally apprehensive about money – well, about running out of it. This goes back to the 1920s when it felt like, for some folks, money just poured in like champagne. Then the stock market crash of 1929 changed all that, the Great Depression set in – and money was never the same again. Even today in 2016, a few years after the Great Recession of 2008, people are worried about running out of money, so they work hard to find work at companies that will pay them well. Financial rewards, therefore, assure a person that the company they’re working for understands this apprehension and wants to keep the employee happy and paid well. Financial rewards – such as quarterly performance bonuses, yearly salary promotions and general monetary gifts and gift cards – are the key to keeping an employee’s loyalty, because more money is what people need and want. They’re afraid of not having enough of it, which is understandable.
Actions Speak Louder than Words
Secondly, financial rewards and incentives are the only way to gain employee loyalty, because actions speak louder than words. Any supervisor or boss can promise a promotion, a raise or a much-needed bonus. That may be enough to temporarily quell an employee’s apprehension at not getting paid what they want – but that certainly wears off. But until that check is given or that direct deposit made, when the employer actively demonstrates they want to keep an employee’s loyalty, the employee remains skeptical and increasingly disloyal. Actions speak louder than words. They begin to look for other jobs, better-paying jobs, at companies that do provide sufficient financial rewards and incentives. Companies have the revenue to pay their employees more money, but so many businesses fail to retain their employee’s long-time loyalty because these businesses are cheap and greedy.
Employees don’t Need Emotional Support – They Need Money
Lastly, a company that gives its hard-working employees well-earned financial rewards and incentives is one that will flourish and retain employees for life. Business owners know this – but they often take the path of the cheap, and exhibit extreme short-sidedness: they would rather hire younger employees who can do the same work for cheaper than pay their existing employees more for doing the work. This is how it is, unfortunately. What an employee needs, in order to retain employees long term and keep their loyalty, is to show an investment in the employee. Employees don’t need emotional support, a nicer office, better working conditions. What they need is money, cold, hard cash. People need cash in this economy. This world is getting more expensive by the second, so people want more money to add financial cushion to their lives, which is more than understandable, and companies must make this effort to retain their best employees.
In conclusion, we have here, in this argumentative essay, acknowledged the greedy, exploitative nature of capitalism in America. The corporate culture is going in the wrong direction; maybe it’s always been this way. Perhaps that’s why the one-percent keep their fortunes growing. Perhaps greediness and exploitation keep the capitalistic society going – or else we’d all be the same: and that’s Socialism, Communism. That’s not American. What is American, evidently, is not paying employees what they are worth, which results in unhappy people – those who flee to other companies because these other companies pay better and offer enticing financial rewards and incentives.
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