An EVP for building a team of great talent
Talent wins games, but teamwork and intelligence win championships- Michael Jordon
The harmonious balance of strengths and talent makes the team and they do the improbable. High-performance work teams have an advantage over the work of individuals because each member can offer new ideas, expertise, and viewpoints. David Litteken, Vice President at People Matters Total Rewards Worldwide shares, “Organizations needs to shift their paradigm away from thinking MVP (Most Valuable Player) as one person, but we need to start thinking our MVPs as a team and building a collective company of MVPs.” Building a team of great talent and retaining them has emerged as a business priority for the organizations. And Employee Value Proposition might just be the most important fix that employee engagement needs said, Litteken.
Many encounter challenges when it comes to drafting a compelling Employee Value Proposition. At the time when we are experiencing a battle to attract and retain top talent, a compelling EVP is a requisite for an organization to build a pool of potential talent. Here are few guiding principles of crafting an EVP for building a team of great talent:
What to expect out from your EVP?
According to a recent LinkedIn report, companies with a strong EVP can improve their retention by 25%. So, there is certainly a great reason to focus on building a great EVP. The real power of EVP is that it offers leaders to know how the prospective and existing talent in the organizations look at their company.
David shares the three powerful outcomes you should drive from your EVP:
• It attracts people to be passionate and valuable to your company.
• It inspires people to do great work while they are with you.
• It should give your employees the reason to stay.
An EVP is all about having a great work environment for you employees so they can fulfill your brand promise and connect to your customers in a way that’s meaningful.
Roadmap for a great EVP:
Keep it Authentic:
Keep the EVP authentic- not only original but tailored specifically to your organization. This is the understanding phase which is marked by understanding and researching what employees feel about your organization. Delve into employees’ survey, exit surveys, reviews on Glassdoor and other social media platforms. Collect data and compile these data points to create the new rules of engagement.
Activating the proposition:
David shares the example of Pizza Hut, where they activated the employee brand with two primary goals in mind:
- Combating the high turnover: Pizza Hut was experiencing a high attrition rate across the globe.
- To change the mindset among employees: The company wanted employees to realize that when they came to Pizza Hut, they weren’t in a dead-end job. Litteken shares, “A lot of our research uncovered that people felt that they have got a job at Pizza Hut and it is like a dead-end. They were uncertain about their growth paths.
Make it exciting and fun:
Creating an environment that is positive. When you work in the environment where people love what they do, and they are happy and are doing a great job, then the employees have a spark. That spark is contagious, and then the customers realize that this is the best place.
EVP is all about making people more committed, more productive and they are going to stay longer. Litteken shares the three Rs- Reinforce. Recognize. Reward. Make sure that these are a vital part of your strategy.
(This article is curated from the session Inspiring win-win happier workplaces through a compelling EVP by David Litteken, Vice President - APAC, BI WORLDWIDE)