Why is loyalty to companies gradually decreasing? Why don't companies work on loyalty anymore?
Haebom
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I once wrote about Albert Hirschman's <To Leave or to Stay?>, and I had the opportunity to contribute to a magazine called Overdose. As a result, I ended up talking about this topic with various people. Everyone agreed on things like protest, departure, and silence, but there were various opinions on 'loyalty.' In this day and age, isn't loyalty too old-fashioned? It's not even about the military. Why loyalty?
However, the phenomenon of decreasing loyalty to companies in modern society is the result of complex factors that cannot be explained simply by changes in individual values. Applying Albert Hirshman's concept, we can broadly analyze the causes of this decline in loyalty into four categories.
First, because the social contract between companies and employees has been broken . In the past, generous pension and insurance benefits were offered to reward long service, but these benefits have been reduced or eliminated in recent years to cut costs, making it difficult to engender long-term loyalty from employees.
Second, the workplace environment is changing rapidly due to rapid technological advancement and globalization. As a result, employees can work anytime, anywhere, free from physical constraints, and do not hesitate to move to a company that offers better conditions in the global competition to attract talent. Additionally, providing customized benefits that meet the expectations of employees with diverse backgrounds and values has become a difficult task for companies.
Third, employees now consider work-life balance, self-development, and realization of social value more important than economic compensation. They want to work for a company that matches their values, and because they seek a variety of experiences, they do not prefer to stay at one job for a long time.
Fourth, as the reward system for loyalty has weakened, employees have come to recognize that loyalty to the company is not directly linked to individual career development or salary increases . Loyalty itself has become a matter of choice unrelated to personal interests.
This decline in loyalty to companies is a complex phenomenon that reflects changes in society as a whole. To overcome this, companies must embrace change and actively respond to the new needs of their employees. If we look for ways to harmoniously connect the values of each employee and the company's vision beyond simply financial compensation, we will be able to create a new form of loyalty.
