There are three strategies above other approaches which may help in defining an strong employee value proposition.
Employee productivity to a large degree is about involving and engaging employee in work. This is often an area overlooked by employers. Leveraging on the organizational diversity and global input makes business sense. Another way of thinking about this the concept of the employees as a base of R&D. Employee involvement brings new insights to the company’s products and services. In addition, it also makes financial sense as these insights can be new sources of revenues.
It’s a crowded market place for talented employees. There is more then sufficient competition recruiting your top talent away. If you are one those companies who utilizes strategies of recruiting away from competition you are actually paying a premium salary. You end up paying a higher wage. One way of keeping employees engaged is through a location strategy. Firstly, you can set up operations in a location where there is ready pool of talent. Many companies are setting up new offices a key markets. Secondly, one can rotate key employees on short-term assignments. These projects can keep your key employees engagement on your top projects and other stretch-assignments. Employees working on key projects tend to be more engaged in work and less likely to be enticed by others.
Think about the employee and generational profiles you have employed. Does it make sense to develop hundreds of programs to cater to the as many employee demographics in your organization? How many EVP programs is enough? How much budget is required? Are you getting the maximum benefit out of the programs? Do employees perceive value? These are all important questions to address when designing EVP programs. HR managers need design relevant programs that differentiate, not more of the same. It is just that, giving value to employees and in return, the organization receives engaged and productive employees in return.
Making Work Interesting
Top companies know that to stay on top they must unlock the code of keeping their employees engaged in work. They must make work interesting. The three strategies outlined provide a framework to creating an EVP. But if the work is not interesting and satisfying developing it is self-defeating to create EVP programs. Winning companies have products and services putting them on top as category leaders. And companies who put their employees ahead by keep the honor of being the best place to work.
In an ever competitive market for top talent, top employees recruit top companies, the rule of “they recruit you, you don’t recruit them,” applies.