Creating the right EVP for the new era of work

People Matters

April 22, 2022

In this altered work model, focus on employee value proposition (EVP) is a business imperative for organizations to have an engaged and motivated workforce. Businesses, across industries, have been quick to pivot and adapt to the unprecedented scenario. However, the impact has been huge and the demand-supply equilibrium has skewed considerably in the past few years.

The top parameters that propelled this shift more in favour of the employees could be attributed to:

On the other hand, HR leaders are facing the brunt as they now need to come up with innovative strategies to ensure the right staffing at the lowest cost. Historically, they have used EVP as a reliable framework to help in their employer branding initiatives. In layman's terms, a well-articulated EVP aids organizations in encapsulating the right messaging to the prospective and current employees on what benefits they could expect in return for their contributions.

The time to upgrade your EVP is now

However, the key question that many are asking is whether the EVP is still a relevant framework in the new normal with the changing work dynamics. A holistic combination of benefits, compensation, work environment and culture, EVP highlights the key reasons why an employee should continue to be part of any organization. Like any other framework which has changed, the EVP needs to adapt and integrate the following parameters to have a core and a flexible framework: 

In conclusion

With rapid advancements in technology and with employees working from anywhere, HR leaders need to make the mind shift from taking decisions based on a one-size-fits-all approach to a hybrid model of work that focuses on employee engagement and their holistic wellness.  In this era of hyper-personalisation, leaders need to tread carefully to work on creating a flexible EVP framework that will strike an equilibrium between talent expectations and organisation actions. Else, collective burnout will continue to lead to trends such as the Great Resignation in 2022 and beyond.

The author, Milind Mutalik, is Head of Employee Experience at Accolite Digital.

The article has been originally published in People Matters.

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