Employee Value Proposition: A Key Tool for Talent Management!
What is a EVP How to Elicit the EVP Purpose Getting your EVP out there And fun interactive Exercises and Take aways!!!!!!!!
A compelling, differentiating promise that defines the work experience It is a measurement of the balance between what an employee receives from their employer in return for their performance on the job. In other words, it is the "get" versus the "give." EVP has thus been described as "critical to attracting, retaining and engaging quality people”.
Talent Advantage Attract Retain Critical as EVER
Create excitement about the organisation Ensure that the right candidates are compelled to: Seriously consider your organisation/position before all other opportunities Consider your organisation as a viable employer
Understand which components of the organisation/position will be attractive and compelling to the candidate/market Market the position/organisation to gain maximum impact Contribute to employee retention and alignment
Create “extreme” employee value propositions that deliver on your people’s dreams! Great Company Great Leaders Great Job Attractive Compensation (& Rewards) High Performance Culture
Are we offering a differentiated promise which will target candidates & motivate current employees, & it is closely aligned to our corporate brand? Are we over reliant on salaries & missing other more compelling attraction & retention benefits?
Are we investing efficiently using the right media approach which targets the right candidates? Are our employees experiencing the promises they were given when they joined? Strategic Talent Management!
What happens if you EVP is over or under stated?
Consider Value Proposition by: Position Team Business unit Organisation These can differ from area to area….
Prepare questions for your Managers, other employees (focus groups) and other relevant sources close Understanding your competitors/market and what they are offering Partner with your recruitment agency – gain market feedback
Examine relevant Company information (internal & external) External Annual Statement, Web site Corporate plan Internal Position Brief, Satisfaction surveys, exit interviews Case studies on employees or projects
Intangible includes: organisational values brand name reputation, organisation or industry, leadership style reputation of existing employees community contribution lifestyle Tangible Includes: remuneration learning that can be quantified Travel Conferences Memberships of professional associations, Career path. When considering values there are two distinct types:
Brand Toolkit People Toolkit “Virgin Behaviours” “Stars of the Month” and “Employee of the Year” Recruit Virgin People Virgin Unite “Forget me Not” seeds Suggestion Boxes
Why would a highly talented person choose to work here? Mission Succuss factors Critical Dimensions Values
Deliver WOW through Service Embrace and Drive Change Create Fun a Little Weirdness Be Adventurous, Creative and Open Minded
What was the best mistake you made on the job? Why was it the best? Would you say you are less or more creative than the average person – give me an example?
You have 90 seconds to present the EVP to the person sitting next to you. What are you going to say?
EVP is “a compelling, differentiating promise that defines the work experience” EVP is made up of tangible and intangible components and operates at many levels Eliciting the EVP from a number of sources Getting your EVP out there – partner with Marketing Important to reinforce the EVP throughout the recruitment process!
Great Books! Winning the Talent Wars by Bruce Tulgan Delivering Happiness by Tony Hsieh CEO Zappos