04/12/2013. Building and Executing Your Employee Value Proposition. Your EVP a journey or a destination? Employee Value Proposition

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1 Building and Executing Your Jared Pritz Regional Creative Director TMP Worldwide Advertising & Communications Your EVP a journey or a destination? Employer-employee pact outlining what employees and potential employees should expect as part of your organization Your EVP influences and shapes your organization, inside and out What you learn about your company s goals, employees and target audiences should coalesce to form your EVP as also guide your organization on how to practice it. Employee Value Proposition 1

2 Your EVP influences and shapes your organization, inside and out Recommended areas of research to develop your EVP employer-employee pact outlining what employees and potential employees should expect as part of your organization LEADERSHIP aspirations MARKET perceptions & driv ers internal external Engagement, Retention, Communication & Change Aw areness & Attraction Shapes communications, processes and behaviors within the organization. Brand content and communications that express the core positioning. EMPLOYEE realities What s the difference between my company s EVP and Employer Brand? 1000s of HR professionals everywhere Your brand is what people say about you when you re not in the room. Jeff Bezos 2

3 Your Employer Brand encompasses and is established through your EVP Storytelling the best way to build your employer brand. employer-employee pact outlining what employees and potential employees should expect as part of your organization Employer Brand internal external Employer Brand Engagement, Retention, Communication & Change Aw areness & Attraction Shapes communications, processes and behaviors within the organization. Brand content and communications that express the core positioning. Marketing reaches the masses (and develops the plot). That all sounds swell, but my boss thinks in dollars. How do I make the EVP case? Every HR professional who sees the value in an EVP but isn t sure his or her boss does Employees reach the individual (and develop the characters). A company s employer brand is twice as likely to drive job consideration as its company brand Study: Why Your Employer Brand Matters Candidate Attraction: Increases commitment of new hires by up to 29%.* Reduces compensation premium needed to hire by 50%.* Reaches 50% deeper into labor market to attract passive candidates.* Strong employer brand particularly important to junior level employees and younger demographic. Companies with stronger employer brands have 28% lower turnover rate than companies with weaker employer brands Study: Why Your Employer Brand Matters Employee Engagement: Improves commitment and discretionary effort from current employees by up to 37%.* Decreases voluntary attrition: cost to replace a single employee varies from % of annual salary.** Increases employee engagement, leading to higher productivity, customer- and employer loyalty.+ *Corporate Leadership Council, 2012 Global Survey **Society of HR Management, Julie Gebauer and Don Lowman, Closing the Engagement Gap, Penguin Group, 2008 *Corporate Leadership Council, 2012 Global Survey Source: Corporate Leadership Council 3

4 A strong employer brand significantly reduces overall cost per hire 125 Data from EVP development can help you deliver the most relevant communications. <1 1 to 3 3 to 5 5 to to years of experience Compensation Compensation Compensation Indexed cost per hire 67 most important career attributes Compensation Compensation Compensation Work/Life Balance Benefits Benefits Work/Life Balance Benefits Work/Life Balance Benefits Work/Life Balance Work/Life Balance Benefits Work/Life Balance Benefits Stability Poor/Moderate Good/Strong Employer brand strength Career Mobility Opportunity to Learn Career Mobility Stability Stability Ethics Source: Linked-In Survey of 2250 corporate US recruiters (2011) Data aggregated from employee perception survey respondents (n= 32,724). Conducted by TMP Worldwide. Ok, Jared, you have my attention. Any real-life examples? Hopefully, you The Impetus Poor Public Image Undifferentiated from Competition Heavily Reliant on Graduate Hiring BP Graduate Branding Campaign interactive information session deck The Result An EVP and Employer Brand position anchored in distinct culture, groundbreaking work and personal investment. employee videos 4

5 BP Graduate Branding Campaign campus collateral campus playbook The Impetus Decentralized M&A Evolving Corporate Brand print ads Northrop Grumman aligning brands The Result An EVP and Employer Brand position anchored in security, career exploration and being human. corporate employer Northrop Grumman pushing the brand into the market Northrop Grumman rolling the brand inward careers site digital marketing signature collateral intranet portal 5

6 Northrop Grumman messaging guidelines system (sample) Northrop Grumman employer brand and behavior guide Engineer s AS Business ES Identify the Target Audience IT/Cyber Select the Point of Review Sector Considerations IS Final Message Approach Trades SB College/ Recent Grads TS Questions? jared.pritz@tmp.com 6