The Bigger Picture: Using an Employee Value Proposition to Attract and Retain Talent

Transcription

1 The Bigger Picture: Using an Employee Value Proposition to Attract and Retain Talent

2 Presenters Susan Rogers, CCP, GRP Principal Engagement Practice Scot Marcotte, CEBS Principal and Technology Leader Engagement Practice 2

3 Let s talk about: Why engaging employees with communication contributes to business success How an Employee Value Proposition (EVP) provides the foundation How to establish a compelling EVP Examples of what companies have done and technology to do it We will take questions at the end of the presentation. Feel free to submit them as we go along. 3

4 Why an employee value proposition (EVP) matters Organizations that leverage an EVP effectively: 5x more likely to report highly engaged employees 2x more likely to report financial performance above their peers A strong EVP has business benefits: Higher candidate acceptance rates Higher employee retention rates Higher job satisfaction, engagement and commitment to company success More productive employees = sustainable success, growth and shareholder return Greater ability to attract, motivate and retain the right talent to be successful * Source: Towers Watson Change and Communication ROI Study 4

5 What is an EVP? An EVP uniquely defines the experience of working for an organization. It s the big picture view of the features, attributes, benefits and opportunities available to an employee at a particular company. 5 Xerox Confidential

6 EVP Secrets to success It is not available on Amazon Prime You can t pick up a collection of good EVPs off the shelf. Authentic and compelling EVPs are unique. They capture and communicate why employees come to work for you and why they stay. 6

7 EVP Secrets to success It is not simply a laundry list of your benefits and pay plans. The EVP is an evolved version of communicating total rewards. Total rewards are a critical and powerful part of the EVP, but an EVP covers more it aligns the whole experience, from vision and mission, to values, culture, and the work environment. Things we hear from employees: The leaders My co-workers Job security Great benefits Opportunities to advance or try new things Stability Chance to make a difference Feeling that I contribute to something great 7

8 EVP Secrets to success It is not a marketing department initiative. Successful EVPs are a collaborative effort among departments which work to attract, retain and motivate people. A successful EVP is developed with a multi-faceted team working together: Recruiting & Onboarding HR Total Rewards Talent Marketing Corporate Communication Legal 8

9 EVP Secrets to success It is not corporate speak. Employees see right through external marketing language repurposed internally. Speak in the employee voice not corporate jargon. An authentic and effective EVP recognizes what the employees define as value and communicates it in a relatable way. 9

10 Polling question Does your organization have an employee value proposition that is defined and communicated? Yes. We have a value proposition and clearly communicate it. No. We do not have a defined value proposition. Well, sort of. We have one roughly defined but not well established. This doesn t apply to me right now. 10

11 Polling question Follow up Surveys show 62% of highly effective organizations leverage an EVP* *Towers Watson Change and Communication Global ROI Research Study 11

12 The making of an EVP 12

13 Process for defining an EVP Analyze Gather Input Develop & Test Communicate Look at culture, total rewards and work experience. Define a compelling and comprehensive package. Discover what employees perceive as valuable about their employment experience. Solicit input from key stakeholders. Use findings to develop the EVP brand and messaging. Test ideas with key stakeholders for credibility and value. Refine. Communicate the EVP. Make it part of the organization fabric. Hold leaders and all accountable to live it. 13

14 Process for defining an EVP 1 Analyze Look at culture, total rewards and work experience. Define a compelling and comprehensive package. Establish core working group and executive sponsors Define measures for success Review mission, vision, values and culture Inventory total rewards Gather information about all talent initiatives, including recruiting and onboarding Create communication plan 14

15 Process for defining an EVP 2 Gather Input Discover what employees perceive as valuable about their employment experience. Solicit input from key stakeholders. Conduct focus groups with a broad spectrum of employees Interview executives and leadership for input and to socialize and support the initiative Understand perceptions (positive and negative) of your brand from a recruiting perspective Review exit interviews and alumni feedback for pastemployee perspective 15

16 Process for defining an EVP 3 Develop & Test Use findings to develop the EVP brand and messaging. Test ideas with key stakeholders for credibility and value. Refine. Create position statement, key messages and visual identity Test concepts on select audience for input Refine based on input authenticity is goal! Revise concepts Gain leadership and corporate branding/legal approvals Refine communication plan 16

17 Process for defining an EVP 4 Communicate Communicate the EVP. Make it part of the organization fabric. Hold leaders and all accountable to live it. Provide brand guidelines and coaching for integrating the EVP into all internal and vendor materials (i.e. recruiting, benefits, etc.) Train leadership and managers on how to cascade Reveal EVP to employees and recruits Establish point in time to review, assess, and refine as needed 17

18 How one organization created an authentic EVP A technology company wanted to embrace its collaborative, innovative spirit in developing an EVP which captured the essence of Why work here? Their starting point was an internal diagram they created to capture elements of their value proposition. They partnered with us on the 4-step EVP process to define and communicate a compelling EVP. 18

19 Compensation Benefits Opportunities Recognition Training & Development Environment Diversity Work The evolution of the EVP Internal Company Starting Point: Employee Value Proposition Attraction Engagement Retention Culture Process: Analyze: Review and inventory all current programs and communication about the company and culture Gather Input: Focus groups with 300 employees; executive interviews Develop and Test: Creative concepts and messages were socialized with focus groups; Refinements mads Communicate: A platform was created to establish consistent visuals and messages. Employee reaction: Somebody s been drinking the Kool-Aid. 19

20 New EVP platform of messages and design Tagline: I Make Things Happen Position statement: I am part of a community of innovators people with true passion, vision, and the urgency to make new discoveries and drive innovation Visual Identity: 20

21 Making the EVP come alive Percy Elaine Juanita Sam Carlos Customer Relationship Management Presentation, multi-lingual, local context Targeted Messaging Rules / Criteria Data Mining Messages / Images Priority Human Resources IT/Provisioning Facilities Finance Payroll 21

22 Questions 22

23 Thank You Susan Rogers Principal Engagement Practice Scot Marcotte Principal & Technology Leader Engagement Practice 23

24 2015 Xerox Corporation. All rights reserved. Xerox, Xerox and Design are trademarks of Xerox Corporation in the United States and/or other countries. BR17358