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

Searcys collection launches event showcase

Searcys, a collection of UK restaurants, bars and venues, has announced a series of summer pop-ups and event spaces designed to showcase several of its 29 venues.

Circdata reveals launch of new Organiser Portal

Event registration specialist Circdata has announced the launch of its Organiser Portal, as part of the new Fusion 2.0 event technology platform.

Blackhawk to sell off Grass Roots Meetings & Events division

California-based Blackhawk Network intends to sell the Meetings & Events division of Grass Roots, a company it acquired in 2016 for a reported US$118m.

Others on EN

This time, it’s personal

This time, it’s personal

Christine Martin, marketing director EMEA at GES, discusses how the live events industry can get ahead of the mass customisation curve.
The price of free speech?

The price of free speech?

RefTech’s Simon Clayton says letting speakers pay to host sessions might work once, but in the long term visitors will feel disappointed and duped.
Positive challenges ahead

Positive challenges ahead

Chris Criscione, ESSA board chair and managing director Equinox Design looks ahead to ESSA’s next decade.

CONFEX 2017 LIVE

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

Searcys collection launches event showcase

Searcys collection launches event showcase

Searcys, a collection of UK restaurants, bars and venues, has announced a series of summer pop-ups and event spaces designed to showcase several of its 29 venues.
Circdata reveals launch of new Organiser Portal

Circdata reveals launch of new Organiser Portal

Event registration specialist Circdata has announced the launch of its Organiser Portal, as part of the new Fusion 2.0 event technology platform.
Blackhawk to sell off Grass Roots Meetings & Events division

Blackhawk to sell off Grass Roots Meetings & Events division

California-based Blackhawk Network intends to sell the Meetings & Events division of Grass Roots, a company it acquired in 2016 for a reported US$118m.

Latest Features

My Working Life by Richard Jarvill

My Working Life by Richard Jarvill

The managing director of JMT talks furniture and floorcoverings, his first foray into events and being an extra in a Brad Pitt film.
2 Minutes With Emily Shaw

2 Minutes With Emily Shaw

The new strategy director at FreemanXP talks rigour, empathy and Sharpies in all the colours of the rainbow.
The Wheel Deal

The Wheel Deal

What do you get when you cross a Hollywood film studio with a UK event organiser? A £25m deal and the launch of Fast & Furious Live of course...

Latest Galleries

London Book Fair 2017

London Book Fair 2017

From 14 to 16 March, more than 25,000 visitors from over 130 countries visited Olympia London for the 46th edition of The London Book Fair. A year of celebration, highlights included a tribute to The Wizard of Oz’s yellow brick road, the 20th anniversary of Harry Potter, 70 years of Indian independence and much more.
LondonEdge celebrates 35th show

LondonEdge celebrates 35th show

Alternative fashion show LondonEdge returned to the Business Design Centre on 12-13 February, celebrating its 35th edition.
Crufts 2017

Crufts 2017

Pedigree dog show, Crufts, once again celebrated all that is great about dogs when it returned to the NEC on 9-12 March. The show attracts around 22,000 dogs annually from around the world, competing for a place in the prestigious Best in Show final.