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

Eventcity to host Digital Kids Show

Manchester has been chosen to host a line-up of famous YouTubers in November, as part of the all-inclusive family day out Digital Kids Show.

Successful 2nd outing for ChileCare Expo Manchester

On 16-17 June, Childcare Expo Manchester opened its doors for the second time for its return at EventCity, welcoming 1,686 visitors to the venue.

Messe Frankfurt records highest ever result in 2016

Trade fairs are still going from strength to strength in Frankfurt 777 years after the first event of this kind was held there, with sales of over €650m planned in 2017

Others on EN

National mourning

National mourning

Mark Blair, divisional director of InEvexco, considers the insurance implications of the death of a monarch.
David's Inferno: The comfort zone

David's Inferno: The comfort zone

In the first of his new series of monthly columns, Cvent’s senior marketing director David Chalmers says it’s important to break out of the comfort zone.
Show or tell?

Show or tell?

Roopi Woodall, marketing manager at the QEII Centre, asks if the art of conversation on social media is dead – and how to engage with audiences if that’s the case.

The Showlite Heroes

Most Read Stories

Fit for the 21st century

Fit for the 21st century

Andrew Harrison, ESSA director, says we should always fight to bring talent into the industry and encourage an appetite for success.
I'm a believer

I'm a believer

Sam Cande, group commercial director at Centaur Media, says no secret sales technique can compete with belief in a product.
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.

Latest News

Eventcity to host Digital Kids Show

Eventcity to host Digital Kids Show

Manchester has been chosen to host a line-up of famous YouTubers in November, as part of the all-inclusive family day out Digital Kids Show.
Successful 2nd outing for ChileCare Expo Manchester

Successful 2nd outing for ChileCare Expo Manchester

On 16-17 June, Childcare Expo Manchester opened its doors for the second time for its return at EventCity, welcoming 1,686 visitors to the venue.
Messe Frankfurt records highest ever result in 2016

Messe Frankfurt records highest ever result in 2016

Trade fairs are still going from strength to strength in Frankfurt 777 years after the first event of this kind was held there, with sales of over €650m planned in 2017

Latest Features

Lights up

Lights up

As Showlite celebrates its 25th birthday, founder Paul Wicks looks back on the company’s history and reflects on the industry.
Waste not, want not

Waste not, want not

Soraya Gadelrab, portfolio director – food, drink & packaging at Fresh Montgomery, on the organiser’s partnership with charity City Harvest.
Right on the money

Right on the money

After teaming up with Prysm Group to run Accountex 2016, Diversified Communications has taken the reins for this year’s show.

Latest Galleries

London Dungeon Lates

London Dungeon Lates

The London Dungeons has launched a unique nighttime experience with the theme of the seven deadly sins. The adults only tour includes seven themed food offerings and a range of themed drinks.
This Morning Live

This Morning Live

Tens of thousands of fans descended on the NEC on 18-21 May for This Morning Live, to see talent from ITVs award-winning daytime programme arrive in style.
Ideal Home Show Scotland

Ideal Home Show Scotland

The Ideal Home Show return to Glasgow for its 70th Anniversary on 26-29 May, introducing the all-new Eat & Drink Festival to Scottish fans.