How loyalty to workplace has shifted shape in the age of hybrid and remote jobs - The Economic Times

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Loyalty—being faithful to a person, cause, team, a job—is usually seen as a virtue. However, in a post-pandemic world, some amount of unfaithfulness is at play at the workplace.
Michael Page India’s Talent Trends 2023 study has found that 75% of the 4,000 employees interviewed were “active job seekers”— meaning, they plan to find a job in the next six months. Even among those who started a new job over the past year, 9 out of 10 remain open to new opportunities. The report shows that only 54% are satisfied with their job, and 56% with their remuneration. “The culture of long-term service to a single company is becoming an obsolete concept,” Ankit Agarwala, MD, Michael Page India, told ET in May.

For decades, loyalty at the workplace has been defined by one key factor: longevity. But the concept is more complex today. “I don’t think longevity has anything to do with loyalty anymore,” says Mayank Kumar, cofounder of edtech firm UpGrad. “In fact, employees are more aware and informed of their priorities and the opportunities available, and their loyalty is more towards self.”

Romal Shetty, CEO, Deloitte South Asia, agrees. “What’s happened post-Covid is that people have made choices about where they want to work or where they feel most comfortable working from,” he says.
Loyalty is traditionally underlined by a long service, says Santosh Iyer, MD and CEO, Mercedes-Benz India, but it can be imbibed in short and effective services as well. “We encourage exposure to multiple functions to develop a holistic understanding of the business. We equate value-driven contributions of an individual with loyalty… it’s not just about longevity,” he says.

Companies are focused on measuring outcomes now, says Nitin Sethi, CEO–India and South Asia, Human Capital Solutions, Aon. “Five years ago, the gig workforce was maybe 0.5-1% of a company’s workforce, but with hybrid work and other forms of remote work, companies have had to interact with different types of talent groups—fully remote, those in the office, consultants, gig workers— and find ways to keep each group engaged,” he says.According to a survey done exclusively for ET by Ciel HR last month, the adoption of gig workers across 400 large, medium and small companies in the June quarter rose to 55% from 30% a year ago.

HOP, SKIP, GROW
Jumping from one organisation to another used to be frowned upon, but according to the Michael Page study, job hopping has become the norm and there will be a greater challenge for employers to retain top talent.

Harsh Jain, cofounder, Dream Sports, says people “respect companies that are profitable, build steadily, grow healthily and have a good culture”. “If you provide high-impact work, transparency and a great culture, then I don’t see people moving around as much for a 5% or 10% hike.” However, the type of industry plays a role here, he cautions. “Most engineers want to have a maximum three-year stint at their first job as they want to try out a few companies before they decide on their field. Two- or three-year stints at different companies can also help them decide if they want to be a professional or an entrepreneur,” he says.

Veteran banker and former CEO of HDFC Bank Aditya Puri sees no harm in job hopping. “But too much will get you nowhere. At some point, people will look at you and say that this is a rolling stone,” he says, adding that it’s best to switch if there is a 25-50% salary increase, better responsibilities or if the new organisation is a better brand.

GROWTH MINDSET

Loyalty at the workplace is less reciprocal and more transactional in nature. That’s why corporations shouldn’t expect unconditional loyalty from employees, says Dr Kailash Nadh, chief technical officer at Zerodha, who has seen his team’s attrition rate drop as low as low single digits at various points. “If an organisation treats its people poorly, they will not stay,” he says. “Creating an environment where employees have genuine reasons to stay and work meaningfully should be the focus.”

Dr NS Rajan, former CHRO at Tata group, explains this in Shiv Shivakumar’s The Art of Management: “We must recognise that just as an enterprise expects to grow, so the individual employee has aspirations to blossom. If we cannot provide them avenues to ensure mutual growth, don’t expect them to be around.” In other words, the old employee engagement playbook is no longer enough to keep people.

Loyalty can also change in different stages of career and tenure in the organisation, says UpGrad’s Kumar, so organisations have to continuously find and adapt to what drives loyalty. “Gone are the days of one job, one life. Companies with strong learning/culture and a growth path are able to build long-term tenurity among their employees,” he says.

While bosses differ on their definition of workplace loyalty, one thing is clear: If employers provide opportunities for learning or internal mobility, employees are more than happy to stay, albeit for a while.

More than half of employees surveyed in a global talent mobility study by Cornerstone say that having the chance to explore career opportunities internally would make them more likely to stay in a job, while 47% say it would make them more satisfied in their work.

In contrast, workers who do not see any internal career opportunities are 61% more likely to consider quitting, the report says. “There’s no doubt that employees are hungry for growth and development opportunities. For organisations to remain competitive, they must be willing to lean into employee career mobility,” Vincent Belliveau, chief international officer, Cornerstone, said in a statement.

With inputs from Glynda Alves

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