ROI of EVP Effectiveness: An unattractive EVP requires 21% higher compensation premiums to hire staff than those organisations with a well-crafted EVP. And this is just the acquisition part, the numbers will increase over employee life cycle significantly, & does not account for opportunity cost of good talent passing over opportunities at your organizations.
Crafting a work environment that can accommodate the unique needs of a diverse employee population requires a deep understanding of how employees think about their jobs & connect with their workplaces. Employers who are able to do this effectively create and tap into the power of productive and thriving employees, with a distinguished employer brand effectiveness.
Enabling Organizations & Leaders, The Brew’s EVP Capability Maturity Index consists of 4 core components to evaluate EVP effectiveness:
- Total Rewards Capability Maturity
- Organizational Practices Capability Maturity
- Organizational Behaviors Capability Maturity
- Organizational Purpose Capability Maturity
The Brew’s EVP Capability Maturity Index enables organizations with the following:
- Ascertain the current maturity stage of existing proposition & EVP effectiveness – At Aggregate level (Contractual, Differentiated, Unique) & Individual Level (Total Rewards, Org Practices, Org Behaviors, & Purpose)
- Ascertain the capability maturity path for upward progression to next level (at Aggregate Level & at Individual Element Level)
- Determination of ‘end state’ EVP strategy, basis the organizational context, growth goals, talent target groups & industry competitiveness
- Optimal EVP Strategy for the current stage
- Post EVP Capability Maturity determination, included herewith, is a step by step guide to creation & implementation of robust employee value proposition for your organization
Why take The Brew’s EVP Capability Maturity Index, to enhance your EVP effectiveness?
- Determine, assess & identify, the degree of competitive advantage the organization has, for attracting in-demand talent with a targeted focus & improved EVP effectiveness
- Reduce turnover & drive retention, as employees become more engaged and committed to your organization, resonating it with their needs, making it more meaningful & well placed to deliver a compelling employee experience
- Inspire higher levels of motivation, productivity, and workplace satisfaction
- Build competitive advantage & drive better business performance and demonstrate cost effectiveness of total rewards & employer branding investments
About Employee Value Proposition (EVP)
The ‘People Promise’ that defines the expectation the employer has for its employees and what the employees expect in return. The Employer branding starts with an Employee Value Proposition (a compelling one, of course), it is a ‘statement of everything to do with each employee’s experience throughout their life-cycle within the organisation.
- Leaders strive hard to relentlessly improve EVP effectiveness, gaining the following:
- A well-developed EVP creates a significant competitive advantage, attracting, retaining and engaging employees – no more bad Glassdoor reviews!
- The test of EVP effectiveness is whether it diverts all the focus on pay and benefits as an employee’s main motivator – According to the Corporate Leadership Council, an unattractive EVP requires 21% higher compensation premiums to hire staff than those organisations with a well-crafted EVP.
- The employment market is getting highly competitive and as the war for talent continues, where employer branding and company culture can form a competitive advantage, attracting and retaining top talent is not simply a priority but a necessity.
About The Brew
The Brew, enables high impact solutions on levers of human capital, enhancing organizational performance – capability – effectiveness yield, basing to build high performance teams & sustainable high impact workplaces, with ultimate objective to create competitive advantages. Be it building high performing workplaces, or high potential teams, improving organizational effectiveness, or organizational trust, engagement, embedded-ness, culture or to improve business outcomes, human capital ROI – we leverage our demonstrated competence in these outcomes to transform organization. Check out The Brew & The Brew Store for further info.