Is Workplace Loyalty Dead?

Have the realities of a fast-paced economy—multiple careers, high mobility, freelancing, shortening of contracts, automation and outsourcing—killed off loyalty in the workplace? Or are the bonds between employers and employees just as strong as ever? And if loyalty is waning, what can company leaders do to strengthen their people's allegiance?

Have you seen the cartoon where one white-collar worker says to the other, "You can't buy loyalty"? Tthe other shoots back, "What do you mean, 'You can't buy loyalty?' I've sold mine numerous times."

My father did not do that. He worked for Sandoz (now Novartis) for 35 years, often grumbling at the dinner table about what he had to endure, sometimes dreaming about sailing around the world, but never seriously considering to leave the company.

And he was not alone. In my dad's day, employees stayed at the same firm for decades, and the firm held up its part of the deal, with security, long-term contracts in addition to health care and a pension.

But those days, when "company men" did what was expected from them, are over. Now everyone seems to ask, "What's in it for me?" And an ad by the online job search engine Monster.com says, "Your calling is calling."

Posting to a discussion in the Financial Times, workplace expert Lynda Gratton wrote: "Faced with what could be 50 years of work, who honestly wants to spend that much time with one company? Serial monogamy is the order of the day.

If there is a trend toward weaker bonds between workers and employers, the recent recession might have compounded it. If people were not laid off, they might have stayed in their job merely because they felt they had no choice.

In that case, employers would need to prepare for higher turnover as soon as the pendulum swings and the job market picks up again.

And since many companies can or will no longer hold up their end of the bargain, why should employees hold up theirs? Especially knowledge workers are likely to take their skills and portable retirement accounts elsewhere. 

Not everyone agrees that worker allegiance is waning. Tom Peters is one who said that "Loyalty matters as much as it ever did. Both ways, I might add."

Either way, what can company leaders do to retain their best talents? Money is part of the answer, but certainly not the whole answer. See this video by Daniel Pink, the author of "Drive: The Surprising Truth About What Motivates Us."

Especially with younger people, "you're not going to buy extra loyalty with extra money," Tammy Erickson, a workplace consultant, said. Rather, employers should make jobs more challenging and give workers more leeway, Ms. Erickson said.

Add to that: more meaning. And more experienced workers can benefit from new opportunities, additional learning and retraining, appreciation and recognition, and more flexible hours.

What do you think? Is workplace loyalty a thing of the past? And how can company leaders boost the loyalty of the workforce? I look forward to reading you on http://thomaszweifel.blogspot.com/.

P.S. To learn more about how leaders build loyalty and long-term relationships, check out my book "Communicate or Die."