At the heart of business success

Supplier and ContractorsEvents and ShowsOrganisersVenues+-
Heart-business-NEW-resized.jpg

Hollie Lawrence, senior HR manager at Freeman, and EN30 member looks at why it’s important for employers to have a strong employee value proposition.

 

We often hear business leaders talk about their value proposition as an organisation – it’s a concept that’s vitally important for the success of any company, because it speaks to who they aspire to be in the marketplace, demonstrates what they can offer their customers and showcases what differentiates them from their competitors.


A business’ value proposition is strategic and future-focused, and it should no doubt be at the heart of any organisation.


What strikes me as particularly interesting is the fact that not all companies place the same emphasis on their employee value proposition (EVP) – a term that is used to describe the combined characteristics and appeal of working for a company.


While the concept has been around for the last 15 years or so, research shows that a significant number of organisations still don’t have a long-term plan for getting the most out of their EVP.


An EVP defines what an employer offers its employees throughout their working experience; in order to motivate them to deliver the performance excellence required to drive success for both employer and employee. It lives in the employee life cycle, and extends from the experiences they have before they join a business to the time they spend there, and after they leave.


The EVP is made up of various elements of the working relationship between employer and employee, including purpose – such as company values and the business’ strategic value proposition, work – such as job interest, performance management and career progression opportunities, total reward – which points to things like salary, holiday, pensions, benefits, award programmes and company policy, and people – an inspired team, effective leadership, diversity and a great culture are all important components to consider.


I think we can all agree it’s essentially our people who make our business’ value proposition a reality – if you don’t have the right talent to drive your organisation’s value proposition forward, then you’ll struggle to create a successful business, which is why an effective, clearly defined EVP is essential. It can help companies to not only attract, but also retain the top talent.


Added to this, a recent global workforce study has found companies with an effective EVP are three times more likely to report that their employees are highly engaged, and are 1.5 times more likely to perform significantly better than their peers from a financial standpoint.
So what makes an effective EVP? It needs to be strategic, future focused and reflective of how you want to be seen as an employer.


Importantly, it also needs to be clearly aligned to your business value proposition and reinforced throughout the employee lifecycle. It must be authentic, and aligned - not just something that is used to market a business and boost its profile – your employees need to live and breathe the EVP. This approach will drive employee engagement and therefore business productivity and profitability.


When it comes to creating EVP, it’s important to first understand your business value proposition and then consider the talent you need to attract, develop and retain. This approach will ensure the EVP supports the goals of the business. How you choose to weight purpose, work, total reward and people will define your EVP and determine the type of talent you wish to attract.


A company’s value proposition and EVP go hand in hand, and both should sit at the core of every organisation. As Freeman looks to become the number one place for talent in the brand experience industry, we are undertaking a project to redefine our EVP. We are putting the focus firmly on attracting, developing and retaining the best talent, which in turn will further drive business success and help us to deliver accelerated results for our clients, ensuring a mutually beneficial partnership long into the future.

Hollie Lawrence
Posted by Hollie Lawrence
PopularComments
Twitter Facebook Google+ LinkedIn

Related Stories

AEO launches Development Board

The Association of Event Organisers (AEO) has announced the formation of a Development Board, with the aim of ensuring that the AEO delivers value to all members.

F3 secures Watford FC contract

F3, the joint venture between One Event Management and Legends of the US, has won a 10-year contract with Watford Football Club.

MA Exhibitions appoints LiveBuzz as exclusive partner

MA Exhibitions, the exhibitions arm of media company Mark Allen Group, has appointed LiveBuzz as exclusive registration partner across its entire exhibition portfolio.

Others on EN

Paul Byrom: Opportunity knocks

Paul Byrom: Opportunity knocks

Paul Byrom, AEO chairman and MD at Upper Street Events on the formation and goals of the new AEO Development Board
The height of safe practice

The height of safe practice

Andrew Harrison, ESSA director on continuing to build a robust, safety-first, working culture in events and exhibitions.
All part of the plan

All part of the plan

Kevin Horler, project director of Vividfish Ltd, on the importance of creating an inbound marketing strategy for your next exhibition.

WATCH THE EN AWARDS 2016 HIGHLIGHTS


silverstream.tv

Most Read Stories

Lourda Derry: Making the connection

Lourda Derry: Making the connection

Lourda Derry, director of Easyfairs UK addresses the science behind operations and the profile of our audiences.
Steve Monnington: The Dealmaker in March

Steve Monnington: The Dealmaker in March

Steve Monnington of Mayfield Media Strategies, runs the rule over the latest global exhibition deals.
Helen Lowe: Marketing déjà vu

Helen Lowe: Marketing déjà vu

Helen Lowe, events and marketing manager at Europa International, talks about the importance of keeping up with the creativity amidst the chaos.

Latest News

AEO launches Development Board

AEO launches Development Board

The Association of Event Organisers (AEO) has announced the formation of a Development Board, with the aim of ensuring that the AEO delivers value to all members.
F3 secures Watford FC contract

F3 secures Watford FC contract

F3, the joint venture between One Event Management and Legends of the US, has won a 10-year contract with Watford Football Club.
MA Exhibitions appoints LiveBuzz as exclusive partner

MA Exhibitions appoints LiveBuzz as exclusive partner

MA Exhibitions, the exhibitions arm of media company Mark Allen Group, has appointed LiveBuzz as exclusive registration partner across its entire exhibition portfolio.

Latest Features

The big picture

The big picture

Imagine you could find all the photos taken at your event...well now you can, says Gaggletag founder Gideon Summerfield.
The talent of a nation

The talent of a nation

Following the launch of Connect16 this year, EN catches up with founder Nicola McGrane on experiencing the essence of Ireland.
EN30/30 Breakfast Club in November

EN30/30 Breakfast Club in November

Tasting the delicacies of ExCeL London’s River Cottage, members of the EN30 gather to discuss recruitment, working from home and the potential death of email.

Latest Galleries

ESSA 2016 Conference of Things

ESSA 2016 Conference of Things

This year’s ESSA Conference achieved a record attendance of delegates from across the events supplier industry, representing over 100 companies at Ricoh Arena, on 24 November.
The Prosthetics Event 2016

The Prosthetics Event 2016

Exhibition, education and shopping show The Prosthetics Event, returned to Conference Aston in Birmingham for the third consecutive year on 19 November.
World Travel Market London 2016

World Travel Market London 2016

World Travel Market (WTM) London 2016, which took place on 7-9 November at ExCeL London, celebrated its most successful show yet with a joint record attendance of 51,500.