Many companies, regardless of industry, make earning and keeping clients’ loyalty a central goal in their operations. Employee loyalty is often ignored or pushed further down the list of priorities, yet this factor can have a huge impact on the level of service clients receive and whether they decide to maintain their relationship with a firm over the years.

Owners and founders of financial services organizations often have to manage employees or oversee supervisors who do so. Creating a culture that values and rewards team members’ contributions will produce much more satisfying results – for your company and for your clients – than simply handing down responsibilities and delegating roles with no explanation of how they fit into the rest of the organization’s operations.

Do you struggle with high turnover in your firm? Or does it seem like your employees are happy to come into work every day, enjoying the work they do and striving to advance the company’s mission? How do you identify and prioritize your team members’ needs, as well as those of your clients?

Clients tend to follow advisors as they move from one institution to the next, so retaining your team members is critical to maintaining and building your clients. But how do you do that?

You need to invest in technology and processes that help all of your employees, from administrative assistants to lead salespeople, do their jobs, but that is not what will differentiate you from other employers. While my previous post specifically addressed the relationship between organizations and advisors who are building their practices, it can also apply to advisors who are managing their own teams. By delivering the four common things that advisors want – more quality time, more fun, more money and long-term security – you will not only retain the strong employees that you have, you will also attract more of the top talent in the industry.

Express gratitude when your employees go above and beyond the job description. Encourage them to take initiative and own their job functions. Provide them with opportunities to develop new skills and grow in their careers. When you take care of your employees, you will enjoy a higher retention rate, thus keeping clients and achieving continuity and stability within your business.