Your Employee Value Proposition (EVP) is defined by what you offer your employees. A well-defined career path, a prime location, excellent primary benefits, and so forth. What do your employees get from you in return for their time, their efforts and their engagement?
Based on our Top Employers international research, we identified four different steps to maximise the effect of your EVP on the attraction, retention and engagement of your staff. Find out what you can do to get the most from your EVP.
1 – Measure the fit
The first step in maximizing your Employee Value Proposition is to measure your optimal EVP. Measure the fit between what you offer your employees and what they really want. Do this at least on an annual basis.
The chart below shows how much of all European Top Employers collect employee feedback versus the Top Employers in Asia Pacific countries. Since 2011 we see that in Asia Pacific the majority of the Top Employers collect employee feedback at least twice a year. In the past few years the European Top Employers have made a steep growth in this area.
2 - Segment your employee groups or let your employees choose their segment
Specific employee groups have specific needs. Identify and segment these specific employee groups. Make sure the Employee Value Proposition fits with each employee group and their needs.
On the other hand, there is the ability for employees to choose their own benefits. Better known as the cafeteria model. Our research shows that Top Employers in Europe make more use of this model than the Top Employers in Asia Pacific. 
3 – Communicate your employee offerings
Step three in optimizing your Employee Value Proposition is to communicate all your offerings to your employees. Make a formal statement on what exactly you offer your people. Think of rewards, benefits, personal development... Make sure they know exactly what they are entitled to, what they are offered, what characterises your organisation and what differentiates you as an employer from other employers out there.
This is something that Asia Pacific Top Employers do well. 90% have a formal statement on employee offerings, which is communicated to them through various means. (see chart below) European Top Employers show to have this steps in place slightly less often.
Step 4: develop a three-year outlook on your employee offerings
From our research we see that outstanding employers are able to maximize their EVP based on the above-mentioned three best practices. And the cream of the crop takes it even one step further.
Our international research shows that companies that develop a three-year strategic plan to anticipate the future employee needs and desires and organisational offerings already have significantly lower shortages of professionals NOW!
Make a long-term strategic plan to anticipate the future needs of your employees in this rapidly changing talent marketplace. Looking ahead doesn’t only yield results in the long term, but you get immediate benefits from your vision on your Employee Value Proposition by getting and keeping the best people.
It is quite clear that even though many employers have clearly defined their Employee Value Proposition, there is a lot that can be improved in the strategic development and execution of their EVP. Now, where you stand with your Employee Value Proposition? Get going, and start maximizing it based on these four steps.
