The employee value proposition – sometimes shortened to EVP – is essentially the value an employee feels they get from their job for a particular company. We are not talking about salary here. Instead, we are talking about job satisfaction.
What an employee thinks about the company they work for is important because a disgruntled worker is unlikely to stay for long. If this becomes more than a one-time event, you’ll end up with some sort of brain drain, as well as a reputation that will make it difficult to recruit the qualified employees you need to grow your business.
So how do you go about generating a strong value proposition for employees? Explore these five key areas:
1. Reward employees
Again, we’re not just talking about take-home pay here. While a good pay is sure to attract the right kind of people, study after study has shown that employees are willing to consider new jobs with lower pay, but better rewards. More and more job seekers are looking for a job that gives them the impression of having achieved something beneficial at the end of a working week.
The rewards can be substantial and include an additional paid vacation day, but they don’t have to be. In fact, to feel appreciated – a key motivation – smaller but more regular rewards are usually better. It might start with just saying “thank you” or “good job,” before perhaps providing cakes or other treats when a team hits a goal. As well as fostering a sense of belonging within a business, such rewards have also been shown to rub off on the front-end of your business – customers who are more likely to stay with a business with high TEUs.
2. Engage with your employees
Top-down management is fortunately largely a business model confined to the past. Today, the manager must be part of the team, and is as much a friend as a colleague. This model generates trust within a team, but it also creates an atmosphere of openness, where employees feel that their concerns and suggestions will be taken seriously. Since it is your employees who do a lot of the “hard work”, they are the ones who will spot the potential pitfalls first. Always remember that engaged employees will be happy employees, and happy employees drive companies forward.
3. Finding the right work for employees
Someone who feels undervalued will certainly result in a weak employee value proposition. It is therefore important to ensure that your employees are well suited to the daily tasks assigned to them. While everyone has some aspect of a job that they don’t enjoy as much as others, it’s different from an employee who is misaligned with the job. From a business standpoint, that means you’re not going to get the most out of that employee. At the same time, the task at hand will not be accomplished as well as it could be.
4. Growth opportunities
TO Jacques and Ferdi We believe that the best way to counter an employee’s feeling of undervaluation is to organize regular career development meetings with managers. If an employee thinks they don’t have the skills to be successful, why not empower them to develop those skills through training courses or other relevant opportunities.
Reversing an employee’s negative opinions can be as simple as suggesting alternate roles within your organization, alternate locations (including working from home), or different hours. Maybe what the employee is really looking for is reducing his workweek to four days so that he can pursue other projects one day a week. Giving your employees opportunities for growth will make them happier and more motivated, which can only improve your bottom line.
5. Organizational culture
To a large extent, an employee’s value proposition will be tied to a company’s culture and, therefore, to its external brand. When a corporate culture aligns well with an individual’s personal beliefs, there will be low turnover and a high value proposition for employees, which will make it a win-win situation. To achieve this, it is not an easy task and companies must develop the right balance between the independence of employees (and therefore the trust you place in them to do their jobs), interdependence with other employees, stability of their role within the company and flexibility. within their role.
As employees are more and more willing to change companies, a strong value proposition for employees becomes all the more important. Our five rules will help you improve your business proposition, and therefore retain the right employees.