Current State
The Employee Value Proposition (EVP) is a critical pillar of an organization’s Human Capital Management (HCM) strategy. The EVP is a complex idea that can be summarized simply: it is why employees want to work for, and stay at, an organization. There are a number of components that go into the EVP and while those individual components remain a priority for the time and attention of companies, the EVP itself has slipped to the bottom of the list.
Complications
Many organizations struggle to develop a compelling and differentiated EVP that resonates with their target talent pool. Effectively communicating the EVP to both current and potential employees can be challenging, especially in a competitive job market. Ensuring consistency between the promised EVP and the actual employee experience is crucial, but can be difficult to maintain as the organization grows and evolves. Regular review and updating of the EVP is necessary to keep pace with changing employee expectations and market conditions, which requires ongoing effort and resources.
Consequences
A weak or poorly communicated EVP can lead to difficulties in attracting and retaining top talent, resulting in higher turnover rates and increased recruitment costs. Inconsistencies between the promised EVP and the actual employee experience can damage employee trust, engagement, and productivity. Organizations with a strong, well-defined, and effectively communicated EVP are more likely to build a positive employer brand, attract high-quality candidates, and foster employee loyalty and advocacy. A compelling EVP can contribute to improved employee engagement, job satisfaction, and overall business performance, leading to a more successful and sustainable organization.
Critical Questions
- Does our EVP accurately reflect the unique and compelling reasons why top talent should choose to join and stay with our organization?
- Does our EVP align with our employees’ actual experiences?
- How can Generative AI be used to support the EVP?
Brandon Hall Group™ POV
Leverage GenAI to Communicate Your EVP
Generative AI can articulate the organization’s EVP in a clear and engaging manner, ensuring all employees have a comprehensive understanding of the value they receive from working for the company.
Here is how it can be applied specifically to EVP Communication:
- Candidate Screening
- Culture
- Alignment
- Employee Engagement Surveys
- Companies and Policy Queries
- Feedback and Suggestions
- Onboarding Support
- Personalized EVP Messaging
- Real-time Assistance
- Training and Development
- Exit Interviews
Ensure Your EVP is Aligned with Your Organizational Values
It’s easy for organizations that want to improve their employer brand to seize on hot issues to attract and keep employees. Your EVP must be authentic, meaning it must be aligned with organizational values. The EVP must be lived, not just espoused. It is important to have a communication strategy focused on mission, values and business objectives. Also get input and feedback from the workforce on their experiences so the organization knows how to improve.
Be Proactive with EVP Efforts, Even in Uncertain Environments
Managing in a VUCA environment is challenging. Organizations that outperform their competitors do more than react to outside stressors. They find ways to succeed even in the face of unpredictability. Taking a more holistic, long-term approach to EVP is advisable. Use a systemic approach to how the elements of EVP relate to one another. For example, having flexible work hours also allows for upskilling on-demand or self-selection of career pathing. Looking at EVP through the eyes of the employees is always the right way to go, even in very volatile environments.
