Employers who are able to champion akin values as a core part of employee value proposition can expect greater employee attraction, retention, well-being, and engagement, when you commit to working toward employee happiness, the attitude of your employees follow suit and you stand to gain all that comes along with a happier workforce, otherwise, an employee value proposition is the reason why people choose to invest in working for one organization over another, and so to be successful it has to distinctly reflect the purpose, priorities and opportunities held by the organization.
While specific compensation plan designs will vary according to company and industry, and can be based on culture, management style and overall objectives, the basic objective should remain the same increased retention of valuable employees, better engagement and higher productivity for the organization, it is a combination of benefits, rewards, and security that your organization offers to its employees in return for work and skills. For instance, over-value your employees and you lose productivity and any semblance of a profit at the end of the day.
You partner with you to develop measurable solutions, devised using the principles of behavioral economics and proven design thinking methodology that keep your employees, channel partners and customers inspired and loyal to your brand, as an employer, consistent and efficient communication of your employee value proposition has become extremely important, one the primary purposes of your employee value proposition is to help you attract and retain the people you want as growth partners in your organization.
Company branding and engagement are connected, so writing an employee value proposition (which basically says who you are and why people should work for you) is an important step towards engaging your workforce, employee value proposition means creating a balance of rewards and recognition in return to an employees performance at workplace, generally, no doubt, there are many other employee retention strategies for engaging and retaining employees.
Every employee is important in helping you reach your vision and goals and every employee counts, many business leaders struggle with creating an engaging work environment and motivating employees, in many organizations, rewards are used mostly to fulfil the elements of employee value proposition by developing the best possible internal formula to balance between attraction, retention, development and motivation.
Just as your organization overall brand helps attract customers and promote customer loyalty, a strong employer brand helps the business attract and retain the right talent, forward-thinking employers know that the right retention strategy is essential to attract and retain talented staff at all levels. To say nothing of, by optimizing your communication efforts with employees, you can also raise the perceived value of the program helping to drive increased engagement and retention.
There are several things you can do right now to start developing a cracking employer brand that helps your employee retention efforts, thus, a superior employee value proposition is increasingly the key to ensuring you attract, keep and engage the talent you need to drive your organization sustainable growth. Also, you can also use a value proposition canvas to help you map out the essential elements of your value proposition.
Plenty of organizations spend time and money crafting a consumer value proposition, and forget about what is in it for staff, the employee-work contract has changed, compelling business leaders to build organizations that engage employees as sensitive, passionate, creative contributors, likewise, how to improve retention by matching the expectations and promises set at the recruitment stage with the actual employee value proposition.
Want to check how your Employee Value Proposition Processes are performing? You don’t know what you don’t know. Find out with our Employee Value Proposition Self Assessment Toolkit: