Whether or not they realize it, organizations have an employee value proposition (EVP). Sometimes, the EVP is official; other times, it’s based on perception. Simply put, an employee value proposition is what makes an organization attractive to employees – why they want to be there, rather than take a job someplace else.
With so many employees working remotely as a result of COVID-19 – and so much uncertainty surrounding how long the pandemic will last – it’s more critical than ever to keep workers engaged and productive. Having a strong EVP can help them feel connected and committed to the company.
These statements are very common. In fact, according to a survey by Universum of nearly 2,500 human resources, marketing and talent acquisition managers from 50 countries, 67% of companies with 10,000+ employees and 55% of companies with 1,000 to 9,000 employees have created EVPs. The figures from the survey were reported by the Society for Human Resource Management.
Here are three steps you can take to develop a strong employee value proposition at your organization.
1. Define what the company offers
HR professionals and recruiters know a well-crafted EVP considers what makes their company unique and desirable. It’s also an honest portrait of what employees can expect from the company and vice versa. An EVP statement is not only effective in reminding current talent what makes their company desirable, but it also gives prospective employees a glimpse of what it’s like to be there – and if the organization may be a fit with their personal values and goals.
2. Incorporate different viewpoints
While a company’s senior management team generally defines its EVP, it’s crucial to include employee feedback into the process. For example, when Dell promoted Marie Moynihan, head of HR for Dell EMEA, to senior vice president of global talent acquisition and put her in charge of overseeing the corporate giant’s hiring and employer branding, she immediately set about creating an EVP, according to Human Resource Executive.
Moynihan found there was a lack of consistency in how Dell sold itself as a global employer. It varied by countries and teams. She set about the process of creating a singular vision across the organization.
In the beginning, Moynihan did not get employees involved in creating the EVP. She did, however, draw from feedback in the company’s annual employee survey. Among other things, it helped fill gaps between management perceptions and the employees’ day-to-day lives.
3. Create an organizational vision
By tying together various viewpoints and the company’s strategic goals – including those for hiring and retention – a picture emerges of what a company is, and where it is heading.
Just as companies establish brand identities to try and differentiate themselves among competitors in the marketplace, an employee value proposition must be powerful and unique if it is to stand out among those established by other organizations.
Elements of a strong employee value proposition include an emphasis on diversity, equity and inclusion, social and corporate responsibility, community service, and a commitment to ethical standards.
Write your own story
If your company does not have an EVP – or if you do, and if it could use an overhaul – now you’re aware of how it can communicate what makes your company stand out from the rest. A well-crafted EVP can help with recruiting and retention – especially if it includes a tuition assistance and support program.
Late last year, we surveyed over 600 human resources and learning and development professionals, including nearly 100 executive/C-level leaders. We recently released a report, Reimagining the Workforce 2021 – Closing the Skills Gap Through Education. Of those surveyed, 42% said they believed workplace education has the power to transform an organization.
Our report goes on to recommend embedding education as a benefit into an employee value proposition.
We are proud to offer a transformational education benefits solution, Wiley Beyond. To learn more about how Wiley Beyond can work with your company to strength your existing education benefits framework or develop a new program, visit wileybeyond.com.