In the last year, two-thirds of people who left their jobs said they did so because they did not feel included, valued, respected, trusted, or cared for.
That represents a huge shift in how employees define their relationship with their employers and serves as a stark reminder that yes, a job is about far more than money.
As a result of these new attitudes to talent attraction and retention, many organisations are rebuilding the pillars on which their employee relationships are built. They’re focusing on reinvigorating value exchange with greater emphasis on workplace culture and wellbeing.
And this boils down to one thing – the Employer Value Proposition (EVP). Resilient organisations, keen to protect their talent pipeline and solidify their future, have made their EVP a strategic priority.
But how do you know that the changes you make today won’t be outdated in a few months’ time? Well, although you can’t predict what’s to come, adjusting your strategic approach can ensure your EVP always delivers what matters.
In this Masterclass, we explain the four steps you can take to build an EVP that evolves with candidate expectations.
STEP 1: ACKNOWLEDGE THAT JOB SATISFACTION NEEDS CAN BE VERY DIFFERENT
Every colleague has something special and unique to offer. Whether they’re in their early 20s, climbing the ladder and bringing their sharp digital-native skills for the journey, or have developed a faultless commercial intuition over decades of experience, different value comes from different people.
It makes sense, then, that the value you offer back will be different for each colleague, too. Now that’s easier said than done but being open-minded, responsive and unbiased will put you in good stead to develop micro-propositions for certain segments of your workforce.
To ensure that you offer flexibility while remaining steadfast in your commitment to your organisation’s specific EVP, ensure that a new or enhanced benefit fits within core value pillars. If you notice that employee job satisfaction needs and workplace (or indeed, personal) priorities increasingly do not fit within your value pillars, consider re-evaluating your EVP.
After all, any good EVP is rooted in realism and tangible resonance. A fulfilled workforce will reward you far more than rigidly sticking to corporate policies that served you well in the past.
STEP 2: ESTABLISH MULTI-GENERATIONAL APPEAL
How do you remain anchored to your overarching values while meeting the needs of so many individuals? We believe by listening and paying particular attention to the generation-specific conversations that are typically muted in the workplace is the best place to start.
This is because the challenges behind these conversations, although deeply personal, can be meaningfully eased with a few tweaks to workplace policy – namely your EVP.
Think about how your EVP can offer what’s being dubbed “phase of life support”.
Could you review your menopause policies to ensure that women at the peaks of their careers have the support they need to thrive? Could you introduce reproductive health holidays for those seeking IVF treatment or partner with a nearby nursery for reduced rates?
Or perhaps lease discounts on electric cars would really speak to your eco-savvy employees, while pre-paid financial advisory sessions might be highly valued by those looking to jump on the housing ladder or make their first investment.
Can you imagine the power these policies would have in the talent attraction process? Especially to candidates who are seeking a new role because their current employer doesn’t seem to care about them as a person?
The bottom line? Keep having those underrepresented conversations, and keep encouraging your teams to bring their whole selves to work, and it won’t be too difficult to evolve your EVP with candidate expectations.
STEP 3: BLEND PROFESSIONAL AND PERSONAL PRIORITIES
Don’t get us wrong, the professional value exchange is still uber-important.
Talented people still want to get ahead in their careers and will seek out positions with leadership mentor programmes, upskilling and training, lateral movement opportunities and dynamic corporate events, for example.
But here’s the thing. They want these professional extras from a values-based, purpose-led organisation. And they should be part of your EVP – a commitment for talented candidates and colleagues to see.
The personal benefits that you offer can back this position up. They can help you articulate your values in a way that speaks to individuals – what they prioritise, what fulfils them, and what brightens their career experience. And in turn, you’ll give candidates and career climbers the confidence that you’re a values-led business who they’ll be respected and cared for by.
Here are just a few EVP ideas we’ve come across that the Intuitive team love!
- Wellbeing days – no quibble days off in addition to holidays
- Inclusive bank holidays – recognising that not everyone celebrates the same events
- All things animals – therapy dog visits or bring your pooch to work day
- Enhanced allowances – local childcare, private medical services and on-demand virtual counselling
- Health and wellbeing – mental health app subscriptions and quiet rooms
The great thing about employee benefits is that you can track their consumption and understand what’s working, what’s not, and what needs to change with the times. It’s also worthwhile gauging responses from recruiters and candidates at the interview stage to ensure your EVP suits talent attraction as well as talent retention.
STEP 4: TREAT THE OFFICE AS A VALUE GENERATION TOOL
Hybrid working is arguably the most obvious example of workplaces evolving with the needs and demands of society and employees.
The option of hybrid or indeed full-time remote working has become a key talent attraction proposition as people re-evaluate what an appealing, values-led organisation really looks like. That said, many organisations still want to see faces, in-person, at the office, citing dynamic collaboration and team building as their reasoning.
Although breakfast cereals, great coffee and unlimited snacks aren’t going anywhere, values-led organisations are looking to add more depth to their office-based benefits. Instead of treating the home and the office as “work locations”, they’re treating them as work tools.
If the office is used strategically with a focus on collaboration, inclusion and contribution, attending will be a far more fulfilling employee experience. Communicate this distinct function and value of the office in your EVP, and you’re more likely to attract and retain talent that wants hybrid working but is enthusiastic about F2F, too.
Even though salary will always be an important factor in any EVP, the Great Resignation movement wasn’t triggered by pay packets alone. Going back to those revealing numbers: two-thirds of resignations boiled down to a sense of workplace belonging.
What does your EVP say about how colleagues are valued, respected and included? Are you confident that it’ll attract tomorrow’s talent and evolve your EVP in step? If you’d like impartial advice about developing a future-fit employer value proposition, get in touch with Intuitive here.