What is your Employee Value Proposition
Have a compelling value proposition for your employees.
In today’s job market with 14 Million unemployed, it seems hard to believe that your organization needs to have an Employee Value Proposition (EVP). But you do! It is important for your employees to be attracted to your team. Without a compelling EVP, you will lose out on the best talent.
Every company is different and you have to work within your market boundaries. Outpacing and differentiating yourself from your competitors is important, but challenge yourself to go beyond your industry norms.
So, what makes a good EVP?
We know why employees leave their companies, right? First, employees need to see a career, not just a job. What career advancement opportunities are you offering your employees? Second, do your employees feel like their manager is also a good mentor? Lastly, do your employees believe in your company’s contribution to society?
Career - Employees of today know that they will need to navigate their career on their own. They recognize that employers will not “take care of them” forever. However, if you are able to extend an employee’s career by offering them opportunities, they are likely to stay with your firm. Employees should be given new opportunities at least every 12-18 months, without new opportunities, they will seek them elsewhere.
Mentor vs. Manager – If you are a manager, you also need to be a mentor. There is a difference! Managers can be good at directing employee’s to success in their current role. However, a mentor is always looking and supporting the employee for their future role. Helping employees become successful in their current role is important, but only if there are future opportunities available.
Contribution to Society – Do your employees believe in your companies’ contribution to society? Do they believe that they are really making a difference in changing the world? Now more than ever, employees are balancing their individual success with their ability to contribute to the future. Communicate to your employees the contributions you are making to advancing the lives of others!
Lastly, compensation is important, but the glue that holds employees to your firm is their ability to see a lifetime career that will contribute to building a better world.