2023, Vol. 10, No. 1. - go to content...

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DOI: 10.15862/15ECOR123 (https://doi.org/10.15862/15ECOR123)

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Shabanova M.T. The meaning and role of personnel loyalty in the context of ensuring the economic security of an economic entity. Russian journal of resources, conservation and recycling. 2023; 10(1). Available at: https://resources.today/PDF/15ECOR123.pdf (in Russian). DOI: 10.15862/15ECOR123

The meaning and role of personnel loyalty in the context of ensuring the economic security of an economic entity

Shabanova Madina Timurovna
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: shabanova.madina@internet.ru

Academic adviser: Turgaeva Aksana Alʹbekovna
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: AATurgaeva@fa.ru

Abstract. In modern conditions of business management, one of the key factors in ensuring economic security is staff loyalty. In the work, the author emphasizes that the lack of staff loyalty can significantly harm the business entity. First of all, this can lead to the leakage of confidential information, a decrease in product quality, a negative impact on the company’s reputation, and even unprofitability. On the other hand, the presence of staff loyalty can have a positive impact on the financial condition of an economic entity. Employees who feel loyalty to the company are more likely to improve their work efficiency and improve product quality. This, in turn, can lead to increased profits and strengthen the company’s position in the market. According to the author, the loyalty of the staff is an integral element in ensuring the economic security of an economic entity. To create employee loyalty, it is necessary to create comfortable working conditions, conduct staff training and development, and maintain corporate culture and values. The commitment of the company’s employees and their loyalty can be created not only through the improvement of working conditions, but also through the optimization of management. The management of the company should be transparent, honest and fair, while not only rewarding those who show good results, but also helping those who are experiencing difficulties to improve their work. The author notes that the company should provide its employees with opportunities for professional growth, organize trainings and seminars, and encourage participation in conferences and exhibitions. This will help employees expand their knowledge and skills, as well as see that their work is valued and required in the organization.

Keywords: personnel loyalty; economic security; business entity; company reputation; financial condition; security element; employees

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