Before asking if your company has an employee value proposition (EVP), it may be more appropriate to ask if your company has a vision and mission. A vision describes what the company wants to become and it drives the direction of the organization. The mission is a description of what the company does, or its reason for existence, or purpose for being. So in order to understand EVP, we must first understand if an organization is using their vision and mission to create a culture that supports an EVP.
Secondly, we need to ask if your organization has a culture that is either rules-based or values-based. A rules-based culture emphasizes establishing and documenting an extensive set of rules to govern employees and their behaviors in the workplace. A values-based culture instills a common set of values within the organization that guides employee’s behaviors in the workplace. A values-based culture integrates the employees and its vision and mission of the organization.
While culture is hard to change and generally depends upon how top-level executives lead the company, creating the right climate in which employees are able to achieve and grow may be easier. The climate, which is created by frontline and middle management, can be shaped and controlled. When frontline and middle managers create a team environment where all employees are able to grow and thrive as a group, it in turn has a significant impact upon employee performance, satisfaction and retention. Managers have an influence on employees abilities to truly understand the EVP and how important that they are to the organization.
So, does your company have an employee value proposition (EVP)? A company’s EVP defines what the organization values and expects from its employees and in return what the organization provides to its employees. A company’s EVP contributes to motivation, productivity and overall employee engagement. A well written and implemented EVP communicates to the employee why working for your organization is different from working for other companies and it shows employees how their contributions have a positive impact on the total customer experience. The extent to which employees connect with an EVP determines the amount of effort they commit to bringing the organizational culture, mission and vision to life.
Companies have the ability to increase their EVP by reminding their employees daily of the company’s vision and mission by walking around and rewarding those who are able to recite and interpret its meaning, as well as apply it to their jobs. Include the vision and mission in job descriptions holding everyone accountable for living them and hold managers accountable for instilling a climate that promotes a team environment. Continued efforts in all of these areas as well as providing opportunities for employees to learn and grow will continue to build your company’s EVP.
A recent Towers Watson survey, “The Next High-Stakes Quest: Balancing Employer and Employee Priorities,” validated that when companies have a strong EVP, they are: less likely to report problems attracting and retaining critical-skill employees, are five times more likely to report their employees as highly engaged and more than twice as likely to report achieving financial performance significantly above their peers. These are statistics that all companies would like to be able to report. In addition, employees who are engaged are providing the utmost service to your customers and in turn are sticking true to the vision and mission of your company. So, companies with a strong EVP retain their high performing talent, provide an exceptional customer experience and outperform the competition. What business owner or stakeholder would not want that for their organization?
To learn more about developing your company’s EVP contact New Focus HR at www.newfocushr.com.
Written by: Kristen Shingleton Deutsch