Employee Loyalty – What can our Young Leaders Do

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Employee Loyalty – What can our Young Leaders Do

28 Feb 2023
- admin
- Leadership & Management
The Stories of Inspired Leadership (SOIL) is a series of sessions hosted by SOIL Institute of Management, that brings together leaders from various industries to discuss topics related to leadership, management, and human resources. The focus of Session 7 was on the crucibles of change makers in HR, particularly in relation to the issue of employee loyalty.

Our esteemed speakers for Session 7 were:
- Pradeep Mukerjee, Founder Director at Confluence Coaching & Consulting
- Vivek Paranjpe, Management Consultant, Executive coaching, Independent Director
- Vineet Kaul, HR Advisor & Mentor, Former CHR), Hindalco Industries Limited
The session began with a question on the lack of employee loyalty in the workplace. The panelists acknowledged that loyalty is the foundation of the psychological contract between employers and employees, and that without it, organizations would find it difficult to achieve their objectives. However, they also noted that the issue of loyalty is a natural corollary to the rise of the gig workforce in India and worldwide.

One of the panelists, Vineet Kaul, shared his thoughts on loyalty, noting that loyalty is something that needs to be seen in context. He emphasized that many years ago, when the main source of employment was either government or two or three large corporations, loyalty was easier to define. However, with the rise of opportunities and job mobility, loyalty has become more complex.

Mr. Kaul pointed out that many companies have been able to provide opportunities for growth and development within the organization, which has helped retain employees. However, there are limits to what a company can provide, and when employees reach that limit, they may need to look for opportunities elsewhere. He emphasized that nobody joins an organization with the intention of leaving, and that there are usually valid reasons why employees move on.

The other panelist, Vivek Paranjpe, shared his thoughts on the changing definition of loyalty. He noted that the value and definition of loyalty are changing, and that as long as an employee is receiving emotional, social, material, and intellectual satisfaction from their work, they can still be considered loyal.

The conversation then shifted to the cultural differences in HR practices across different geographies. One of the panelists, Pradeep Mukerjee, shared his experiences of working in different countries, including the United States, Dubai, and India. He noted that while there are differences in HR practices, many of them are driven by the economic and social circumstances of the place.

For example, Mr. Mukerjee pointed out that in Dubai, it is important to provide a prayer room and to adjust work timings during Ramadan. These are simple things that can make a big difference in terms of employee satisfaction and loyalty.

Overall, the session highlighted the importance of understanding the changing nature of loyalty in the workplace, and the need for organizations to provide opportunities for growth and development to retain their employees. The panelists also emphasized the importance of considering the cultural context when designing HR practices, and the need to provide employees with emotional, social, material, and intellectual satisfaction to build loyalty.

These conversations on key HR topics, with changemakers and global HR leaders are critical for driving positive social change in our communities and the world at large. These conversations bring together individuals with diverse perspectives, experiences, and expertise to exchange ideas, share insights, and collaborate on solutions to some of the world’s most pressing challenges. By engaging in these conversations, our students gain a deeper understanding of complex issues and develop innovative strategies for tackling them. Additionally, these conversations help build relationships and networks among them, fostering collaboration and collective action that can lead to lasting impact. In a world where social, environmental, and economic challenges are becoming increasingly complex, these crucibles of change makers conversations are more important than ever to drive progress and create a better future for all.