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- Fwd: Free EVP worksheet for you ✍️
Fwd: Free EVP worksheet for you ✍️
Mariam Mushtaq
May 07, 2024
In partnership with
Hello HR Enthusiasts! 🌟
Mariam Mushtaq here, bringing you this week's edition of HR Brain Pickings. Grab your coffee and let’s get going! ☕️
In This Edition:
We're going to explore the critical role of Employee Value Proposition (EVP) in modern HR practices. Today's edition is packed with insights and data, especially from the latest Mercer Global Talent Trends Report, to help you redefine your organization's EVP to meet the evolving needs of your workforce.
How has your organization leveraged EVP to enhance employee engagement? |
Unpacking the EVP
The concept of an EVP has transformed from just-another-HR-thing to a crucial strategic asset in boosting engagement and retaining talent. 📈
While we often tout our companies as the best places to work, it's crucial to ask: What truly sets us apart? Why should employees choose your company over others? 🤔
A robust Employee Value Proposition (EVP) serves as the answer, distinguishing your company in a fiercely competitive job market. It helps in aligning what your company offers—be it culture, benefits, career development opportunities—with what employees value the most. 🤩
As we tread deeper into 2024, with so many changes in the EX world, it’s clear that rethinking EVP is now a necessity.
Here are some standout statistics and strategic recommendations from the Mercer’s 2024 Global Trends report:
Personalization of EVP: About 51% of employees expressed a preference for more personalized rewards, reflecting a broader demand for bespoke and flexible working arrangements that cater directly to individual needs and life stages. Pssst: like EngageWith
Transparency and Technology: With 45% of organizations emphasizing total rewards technology, it's clear that transparency through tech solutions is becoming integral to EVP strategies.
Focus on Career Development and Well-being: WorkSafe Victoria highlights the emphasis on aligning EVP with career development opportunities and well-being initiatives. Their focus groups revealed that such alignment significantly boosts retention and recruitment, particularly in competitive sectors. Read the full case study in the report.
Tips for HRs | How to Enhance Your EVP with Data
Understand Employee Needs: Use data from employee surveys to grasp what your employees value most in their work and life. This could include flexible working conditions, career development opportunities, or wellness programs.
Benchmarking: Compare your EVP against competitors. What are they offering? Use industry reports and salary surveys to understand where your EVP stands and where it needs reinforcement.
Feedback Loop: Regularly collect and analyze feedback on your EVP. Are employees satisfied with the components? What changes are they interested in seeing?
💡 Pro Tip from the report: A strong EVP ties the company’s purpose and talent strategy to employees’ personal experience at work. Much of this comes down to fostering diversity, equity, and inclusion (DEI).
Once a distinct discipline, DEI now shapes the entire workforce agenda, and it’s become even more important given AI’s potential to deepen inequities. 🙅
Only 4% of workers say that their company’s DEI practices leave much to be desired, and 98% of HR leaders report their company’s DEI initiatives have produced concrete results over the last few years. 👏
Bonus Resource: EVP Worksheet ✍️
What’s Inside: A template/worksheet that you can use to define your company’s EVP. Use this simple worksheet to articulate and communicate the unique aspects that make your organization a standout employer in today's competitive job market. 🗒️
Missed the last newsletter? Catch up here.
📢 Less Than A Week Away: Reserve Your Spot
How will AI change the future of HR?
How is AI changing HR today?
Join our upcoming conference where we aim to explore how AI can be adopted for HR teams. Is my company AI ready? How can I leverage AI to improve employee engagement? What are Gen AI Copilots? These are just some of the few topics that will be covered by our speakers.
The Shape of Work: AI x HR Playbook for 2024 - reserve your spot today!
Today’s HR Reads for You 📚️
SHRM’s next steps for Employers: FTC Noncompete Ban: Employers’ Next Steps
AI Upskilling: The right way to upskill your workforce
Business Case for Employee Wellbeing: Employees say they expect employers to invest in their well-being
EngageWith Feature Highlight 💡
Attention CXOs, CHROs, and HR professionals! Say hello to Suggestion Box—a revolutionary tool in EngageWith
Key Features:
🔗 Seamless integration with EngageWith and Slack
🕵️♂️ Configurable directly within your Slack workspace
📢 Enable/disable anonymous feedback options
🗣️ Close the feedback loop with engaging discussions
What’s Happening at TSOW?
We also have 2 community calls lined up for May:
1️⃣ 7th May: Nurturing Employee Engagement in Remote Settings by Carlota Montoro
2️⃣ 8th May: Addressing Skill Gaps through Designing Effective Training Programs by Vara Lakshmi Yerramilli
Become a member and lead your own exclusive community call → Click here to join.
That’s a wrap for today!
Did you enjoy today's issue? |
Got any additional feedback for me? Let me know! 👇️
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