Always wanted to read the minds of your employees? read on to find out what they really think of you…..and how to save money in 2019.
Think of your EVP as your own personalised Talent Magnet. It is not the exclusive domain of large organisations with established HR Departments. It should sit on your immediate to do list, not your “5 year plan”.
If you are looking to hire anyone this year it’s an invaluable exercise to understand why your current workforce is there and stay there. This is your EVP. An Employee Value Proposition is what you offer existing and potential employees in return for their hard work and loyalty. It’s essentially what they say behind your back when asked about your firm and is best understood by understanding why your current people stay in your business.
Understanding your EVP ensures you attract and hire the right people that join your business for who you are, they understand the environment before joining. Therefore, because they are a good fit they thrive in your World, are more successful and stay for longer.
Your EVP is part of your “Talent Ecosystem” and intrinsically linked to recruitment. Here at Be Consulting we have a proven track record at understanding individual Talent Ecosystems and designing bespoke Talent Magnets to increase recruitment and retention efficiency.
Once you have understood and defined your EVP you can then use it in every medium that touches potential candidates and existing employees i.e. careers pages, intranet, website, job advertising, on-boarding and training.
Once you understand it, you will….
- Differentiate yourselves better among your competitors
- Increase the efficiency of the interview process and therefore reduce the time to hire
- Increase staff retention
- Channel employee engagement funding to areas that create the highest return
- Increase employee productivity and loyalty
We found this process invaluable for a number of our valued clients before we undertook some significant search assignments. We designed a bespoke 4 step process for each of them to enable us to obtain a really good EVP before we went to market.
- Dig and listen | We dig a little at what your company already offers. Remember the company’s “EVP” is different to the Companies “Values”and listen to your employees’ opinion of your current offerings and what they expected when they joined. You might find the results surprising.
- Analyse what they want | The EVP is meant to create an agreement between employee and employer – so to make it work we really need to understand what they value from your current offering and what they would like to see. Are they getting what they expected when they joined? or is there a disconnect?
- Build your EVP | We work with your marketing and HR teams to translate the insights we have gained into a marketable EVP that transcends all levels of the organisation, reflects your actual company culture and is possible to maintain over time.
- Monitor, Measure and Adjust | Organisations change over time, mergers & acquisitions or change in management can change the EVP. Make sure this is constantly reviewed and adjusted.
You may actually be surprised by what your teams say. In the majority of projects Be have undertaken for our Clients there has been a disconnect between why the Executive Team think people are attracted to their organisation and stay and their actual reasons. Sometimes it’s the little things that count – not the big (or expensive) gestures
Be careful though if you are thinking about doing an EVP yourself. To be effective it should always be carried out by an independent organisation. Otherwise, you run the risk of inaccurate results. If you want more than lip service you should use an external, trusted partner.
At Be we have over 40 years combined recruitment and Talent Management experience. We have run numerous independent EVP projects for our Clients and are happy to share case studies with you. If you would like to find out more about running an EVP project for your team or organisation, please contact Be @ [email protected] or PM me for more info.