Reimagining employee value proposition in the post-pandemic world
The pandemic has changed many aspects of our lives as we knew it and the way we work is no exception. With the onset of the pandemic, organizations across the globe have had to pivot towards a remote working model which soon emerged as the new normal. In the two years that followed, the relationship between people and their work has undergone a paradigm shift with many taking on the additional role of a caregiver while meeting work commitments. Therefore, moving towards a people-centric employee value proposition (EVP) became imperative for organizations looking to create a conducive work environment and to keep employees motivated.
Today, employees are more conscious about the attributes they look for in their employers (current and prospective). To build and nurture a culture of support and care from within, organizations have pivoted towards an employee first approach and introduced/ modified policies to meet their needs. A strong EVP is a key factor when it comes to attracting and retaining talent.
As the needs of employees continue to shift radically, let us understand how a great EVP can help organizations.
- A competitive differentiator: Organisations need to celebrate what makes them unique in order to attract the best talent in this hyper-competitive market. Policies and culture that align with their needs and beliefs make employees brand ambassadors for a company.
- Increases retention rates: A well-defined EVP that meets the expectations of today’s workforce can help an organization boost retention rate. An employee feels engaged and motivated when the work they do is aligned with their aspirations. Engaged employees are also less likely to switch jobs frequently as they see opportunities to grow within the organisation.
- Walk the talk: Defining an employee value proposition on paper isn’t enough. They need to be upheld and adhered to under all circumstances. This commitment comes from leaders who help make them a part of an organisation’s DNA.
Three ways to boost the Employee Value Proposition
Build a culture of care and support from within
Caring for employees is a shared value that organizations began embracing and following, over the last year. Workplace resilience is vital, yet unachievable unless a culture of care is nurtured, and policy, as well as systemic changes, are brought about to ensure employee welfare.
Promote personal and professional growth
Growth is subjective. It could have a different meaning for each one of us. Creating an environment of learning and innovation is critical to enable personal and professional growth while keeping employees motivated. This can be done via leadership training, mentoring; career guidance; online training modules; external learning sessions etc.
Foster a culture where people are at the core
The future of work will be centered around holistic employee well-being and organizations need to work towards building a culture of trust, support, and empathy to develop workplace resilience. Here are a few ways to make this happen:
- Any company which has an open culture enables employees to not hesitate while speaking their minds and bringing their true selves to work.
- Employees that see their employers being empathetic tend to follow through on the same with their teams- if for some reason an employee is unable to attend a review meeting on account of his/ her caregiving responsibilities, leaders need to understand, and this will have a cascading effect
- Leaders need to lead by example and small initiatives go a long way to build a truly empathetic environment. Thoughtful practices like keeping shorter meetings, not scheduling late evening/night calls/meetings, encouraging teams to be off their laptops over weekends and holidays, and not setting any expectations of round the clock availability can help create a positive work environment.