The employee turnover rate in Latin America is currently above 60%. Not only because the pandemic caused a significant change in human thinking, but also because it demonstrated that through the use of different tools, a more flexible lifestyle could be achieved.
When investigating possible reasons for this turnover, it was found that: 29% wanted a different lifestyle and jobs, 12% no longer sought to satisfy the market and its needs but themselves, and the remaining 58% mentioned it was for both options. (Bumeran Survey, July 2022).
Likewise, Change Américas, a consultancy for strengthening and growing management models, in its recent study for 2023, states that 2 out of 10 employees in Colombia reported being demotivated to perform their organizational duties. This is due to a poor work environment, lack of strategy, benefits, and compensation. They categorized the country as an unattractive place to work and the companies within it.
On the other hand, it has been proven that companies with satisfied employees who feel identified with the company generate greater benefits. This is where the importance of understanding the benefits of having a loyalty program within an organization arises.
Initially, we find that these programs result in greater employee commitment and loyalty naturally. This creates an emotional connection with the organization rather than an imposed one. In turn, this leads to the well-known "extra mile," where employees do not adhere to work hours out of obligation but out of passion and commitment.
Additionally, it will allow you to understand the preferences and patterns of your environment to achieve greater empathy in the behavior of others and effectively personalize the motivation and experience being provided. As a result, advertising or marketing plans can be reduced in budget, as people themselves will spread the word and recommend the company, improving the brand image and goodwill on their own.
Additionally, 95% of millennials within an organization like to have these benefits in their environments and to be part of such loyalty programs (Expedia Affiliate Network, 2022).
Laura Montaña y Sebastián Muñoz
Equipo Loyalty, rewards y fidelización.
REFERENCIAS:
• https://hbr.org/2017/03/the-economics-of-loyalty-programmes
• https://www.accenture.com/us-en/insights/customer-relationship-management/loyalty-disrupted-consumer-survey
• https://www.annexcloud.com/blog/15-advantages-of-a-loyalty-program-for-your-business/
• Revista semana, miércoles,12 abril 2023ISSN 2745-2794
• Expedia Affiliate Network; https://www.phocuswire.com/Expedia-millennials-loyalty-programs
