More than half of all managers (52%) consider their employees less loyal than five years ago, according to a survey of more than 1,200 executives and managers by American Management Association (AMA). Thirty-seven percent perceive employees to be about the same as five years ago. Only 11% view employees as more loyal.
This trend is even more pronounced among organizations with more than 1,000 employees. Nearly two-thirds of respondents (61%) at large organizations consider employees to be less loyal than five years ago compared to 44% of respondents with fewer than 1,000 employees.
Declining employee loyalty is thought to harm organizations by causing low morale (84%), high turnover (80%), disengagement (80%), growing distrust (76%), and lack of team spirit (73%).
One-third (33%) of senior leaders believe employee loyalty has a direct relationship to profits.