Team building on the high ropes course.
According to Gartner, the era of the employment contract, when a worker provided services purely in exchange for monetary compensation, is over. Gone are the Mad Men and Devil Wears Prada days of the employer dictating all terms with a seismic shift towards a more even equation. As people leaders, it’s necessary to know what’s being valued as a way to maintain that balance.
A recent survey from Gartner highlighted that employees are increasingly seeking a human value proposition. Supporting an intrinsic motivation as an employer will increase workplace motivation and even in lieu of certain financial contributions. However, the other side of that coin is failing to connect with people on a deeper level could be the turning point for them to look elsewhere.
Neal Woolrich, a HR advisor at Gartner believes, “Employees no longer consider work to be the most important factor in their lives. Instead, it has become secondary to their overall happiness, family and wellbeing. What’s more, is that employees expect their employer to respect that.”
Family, happiness and wellbeing are the most important factors in employees lives.
What is an Employee Value Proposition (EVP)?
An Employee Value Proposition is the promise you make as an employer to your employees in return for their commitment. This promise entails the total benefits and rewards employees receive from their workplace.
There are a few key areas to consider in how to improve your Employee Value Proposition for this new era. Here we take a look at what this could mean for your business:
Increase flexibilityGiven the challenges of covid, flexible work arrangements are more and more expected by employees. Allowing people to work remotely has statistically shown to have little impact on work productivity, and in some cases, has even increased productivity. A 2021 study of 16 000 students saw an increase of productivity of 13%. Whilst allowing people to work from home offers workplace flexibility, it is important to acknowledge and set clear boundaries to ensure people don’t become overworked.
More employees expect flexible work arrangements.
Acknowledging not all roles can be worked remotely such as roles within frontline health, mining or within a bank branch, it is worth considering other flexible arrangements such as extended parental leave or increased carer or mental health days to offset the toll of time away from the family. Additionally, it may be possible for your organisation to offer flexibility around times that the day is worked, such as starting early or late to suit individual needs. These are each important considerations that will be reviewed closely when joining an organisation.
Facilitate personal growth
Incorporating steps to monitor professional development is an important factor is also a valued proposition for employees. For example, implementing individual biannual reviews or facilitating learning environments/ workshops around key interest areas are valued ways in which to facilitate
Support holistic wellbeing
Supporting the holistic wellbeing of your employees includes education focused on physical and mental wellbeing. It also includes ensuring a respectful work environment and might extend to offering a wellbeing program with access to preventative services.
Physical and mental wellbeing education supports holistic wellbeing.
Create a shared purpose
Creating a shared purpose can be achieved by defining your organisation’s mission and then connecting your people to this mission. Additionally, this involves aligning an organisation to purposes with which your people support and identify, such as environmentalism or diversity in the workplace. It’s important to not simply offer a written policy but to have real and measurable KPI’s in place for your people to champion and achieve.
Promote deeper connectionsThis is both with an organisation, employee families and the local community. Facilitating opportunities to encourage cohesion such as social engagements or team workshops are ways to develop deeper connections back to the organisation. Similarly, supporting the local community through fundraisers or local sponsorships that the team can be a part of are important considerations with value that can be returned for years to come. Initiatives such as these speak to a sustainable mindset that demonstrates an organisations long-term commitment to its people and its community.
Supporting the local community is valued by employees
Tips for a great EVP
- Inspirational – inspires people to take action and want to be a part
- Strategically aligned – supports the company’s strategic vision and goals, and helps build the culture and brand that the company is striving towards
- Unique – describes the characteristics of the employee experience that make the company different from other employers.
- Focused – stresses the most important wants and needs of the most important people (i.e. the target employee persona)
In summary, I hear more and more people are seeking a greater sense of purpose in their lives — and that includes their workplace. To demonstrate an intent to support those commitments, I encourage you to review your Employee Value Proposition.
As a people leader, it’s key to regularly check this point and even more important to check in with your people to know what they need to feel supported and fulfilled in their work environment. Getting it right now will have the ability to create incredibly valuable employees and a work environment in the future.