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War for Talent – Understanding your EVP<br />Sonia McDonald<br />Talent2 HR Breakfast<br />

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What’s your Value Proposition!<br />

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Session Objective<br />Employee Value Proposition: A Key Tool for Talent Management!<br />

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Today<br />What is a EVP<br />How to Elicit the EVP<br />Purpose<br />Getting your EVP out there<br />Exercise<br />

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Definition of EVP<br />A compelling, differentiating promise that defines the work experience<br />It is a measurement of the balance between what an employee receives from their employer in return for their performance on the job. In other words, it is the "get" versus the "give."<br />EVP has thus been described as "critical to attracting, retaining and engaging quality people”.<br />

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Business Imperative<br />Attract<br />Talent Advantage<br />Retain<br />Critical as EVER<br />

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The Purpose of EVP<br />Create excitement about the organisation<br />Ensure that the right candidates are compelled to:<br />Seriously consider yourorganisation/position before all other opportunities<br />Consider your organisation as a viable employer<br />

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The Purpose of EVP<br />Understand which components of the organisation/position will be attractive and compelling to the candidate/market <br />Market the position/organisation to gain maximum impact<br />Contribute to employee retention and alignment<br />

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War For Talent – McKinsey Co<br />Create “extreme” employee value propositions that deliver on your people’s dreams!<br />Great Company<br />Great Leaders<br />Great Job<br />Attractive Compensation (& Rewards)<br />High Performance Culture<br />

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Ask Yourself?<br />Are we offering a differentiated promise which will target candidates & motivate current employees, & it is closely aligned to our corporate brand?<br />Are we over reliant on salaries & missing other more compelling attraction & retention benefits?<br />

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Ask Yourself?<br />Are we investing efficiently using the right media approach which targets the right candidates?<br />Are our employees experiencing the promises they were given when they joined?<br />Strategic Talent Management!<br />

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When Expectations = Reality<br />What happens if you EVP is over or under stated?<br />

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How do you elicit the EVP?<br />Consider Value Proposition by:<br />Position<br />Team<br />Business unit<br />Organisation<br />These can differ from area to area….<br />

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How do you elicit the EVP?<br />Prepare questions for your Managers, other employees (focus groups) and other relevant sources close<br />Understanding your competitors/market and what they are offering<br />Partner with your recruitment agency – gain market feedback<br />

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How do you elicit the EVP?<br />Examine relevant Company information (internal & external)<br />External Annual Statement, Web site Corporate plan<br />Internal Position Brief, Satisfaction surveys, exit interviews<br />Case studies on employees or projects<br />

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Tangible Versus Intangible EVP<br />When considering values there are two distinct types:<br />Intangible includes: <br />organisational values <br />brand name<br />reputation, <br />organisation or industry, leadership style<br />reputation of existing employees<br />community contribution<br />lifestyle <br />Tangible Includes:<br /> remuneration<br />learning that can be quantified<br />Travel<br />Conferences<br />Memberships of professional associations, <br />Career path.<br />

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Virgin<br />Brand Toolkit<br />People Toolkit<br />“Virgin Behaviours”<br />“Stars of the Month” and “Employee of the Year”<br />Recruit Virgin People<br />Virgin Unite<br />“Forget me Not” seeds<br />Suggestion Boxes<br />

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Getting your EVP to Market<br />

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Getting your EVP to Market<br />

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Getting your EVP to Market<br />

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Getting your EVP to Market<br />

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Getting your EVP to Market<br />

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Getting your EVP to Market<br />

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Exercise<br />Why would a highly talented person choose to work here?<br />Mission<br />Succuss factors<br />Critical Dimensions<br />

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Elevator Sell<br />You have 90 seconds to present the EVP to the person sitting next to you. <br />What are you going to say?<br />

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Summary<br />The EVP is “a compelling, differentiating promise that defines the work experience”<br />EVP is made up of tangible and intangible components and operates at many levels<br />Eliciting the EVP from a number of sources<br />Getting your EVP out there – partner with Marketing<br />Important to reinforce the EVP throughout the recruitment process<br />

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Action points?<br />Contact Sonia at soniamcdonald@consultant.com<br />OR call 0424 447 616<br />