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Management article
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Reference no. U0503A
Published by: Harvard Business Publishing
Published in: "Harvard Management Update", 2005

Abstract

Few business leaders would deny the importance of organizational loyalty; perhaps fewer still believe they can achieve it the way they once did. Today, workers not only don''t expect to work for decades on end for the same company, but they don''t want to. At the same time, they don''t really want to shift employers every two to three years for their entire careers. Similarly, companies would grind to a halt if they had to replace large portions of the workforce on a similar schedule. So, where does this leave us? Is there a way for both employers and employees to strike a brand-new balance when it comes to loyalty - one that gives organizations the focus and expertise they need to compete and employees the career development opportunities they demand? The answer is yes, but only if companies are willing to rethink how they define loyalty and how they manage their people.

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Abstract

Few business leaders would deny the importance of organizational loyalty; perhaps fewer still believe they can achieve it the way they once did. Today, workers not only don''t expect to work for decades on end for the same company, but they don''t want to. At the same time, they don''t really want to shift employers every two to three years for their entire careers. Similarly, companies would grind to a halt if they had to replace large portions of the workforce on a similar schedule. So, where does this leave us? Is there a way for both employers and employees to strike a brand-new balance when it comes to loyalty - one that gives organizations the focus and expertise they need to compete and employees the career development opportunities they demand? The answer is yes, but only if companies are willing to rethink how they define loyalty and how they manage their people.

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