How to Keep Your EVP’s Promises (And Keep Your Talent)
In July 2021 alone, more than 4 million Americans quit their jobs (U.S. Bureau of Labor Statistics) and millions more have done the same in the months before and since. This mass exodus has been notoriously deemed the Great Resignation (cue the dramatic music). Now more than ever, employees are asking employers that age-old question: What’s in it for me? And those companies that fail to respond run the risk of contributing to the more than 10.6 million job openings currently listed.
The Talent Value Proposition (TVP) also known as the Employee Value Proposition (EVP), captures the mix of benefits, behaviors, opportunities, and ways of working that set your company apart from others. It is quite possibly the most powerful tool your company has to ensure employees and top talent know the value of working for your organization. But beyond just knowing the value, according to Gartner, organizations that effectively deliver on their EVP/TVP can decrease annual employee turnover by 69%.
My colleague, Sonia, wrote about the concerted shift towards humanizing TVPs in the wake of the Great Resignation. But how do you also ensure you’re effectively delivering on your promises? Here are five tips and strategies for authentically weaving your TVP into every touchpoint throughout the employee lifecycle — from hunting and hiring to exit and retirement.
1. Stun from the start
Make a good first impression when hunting and hiring — what people see, hear and experience in the hiring process will set the tone for every other interaction.
With several million jobs posted, make sure your careers site and job descriptions reflect your TVP and sound like they were written by an actual human being. The tone, language and style should reflect your company values and identity and feel unique.
To take things up a notch, consider the different ways you can empower the recruitment team to reflect your company values as they engage with candidates.
2. Set the right tone
Who says day one and onboarding can’t be fun? It doesn’t have to be just signing paperwork and getting credentials squared away! Make a splash on day one with an interactive onboarding experience. Whether in person or virtual, take steps to ensure employees feel welcomed. With your TVP as a guide, consider how you can infuse your values through activities like:
- Sending company swag before day one
- Encouraging team members to reach out and welcome new hires
- Equipping managers with the toolkits and language necessary to provide a consistent onboarding experience
Your work to win top talent doesn’t stop once they sign the offer letter. In fact, the Great Resignation suggests that your work is only just beginning to remind employees why they agreed to work with you in the first place.
3. Make each day count
Fun and splashy onboarding is, well, fun and splashy! But how employees feel about their day-to-day work experience is what makes the difference in the long run. In addition to ensuring you’re communicating about topics that actually matter to employees, find ways to remind your people of all the great benefits you offer year-round, not just during Open Enrollment!
Reinforcing your TVP through day-to-day communication could look like:
- Spotlighting employees and their unique stories to show you care about each person
- Developing a recognition program that directly ties back to company values (Research suggests that over 60% of employees said that a company that appreciates and recognizes their work would help them stay longer!)
- Keeping communications short, sweet, and relevant because you value your peoples’ time
As any couple who’s been happily married for a while will tell you, you have to keep dating the person you’re in a relationship with! Make sure your employees see that you value them day-to-day and not just during the fleeting excitement of onboarding.
4. Invest in your people
Employees aren’t just focused on the present; they want to know they have bright futures too. Your TVP should include a commitment to supporting the growth and development of all your people.
- Design values-based training and development programs
- Ensure performance management processes reflects the growth and development promises in your TVP
- Create learning and networking opportunities for employees who may want to make a lateral move at your company
By painting the picture of what a future looks like with your company, employees are more likely to see themselves in the vision and see it through.
5. Keep Learning
Whether an employee is retiring or moving onto their next opportunity, their time with your company should be celebrated. Ensure they know their contribution was valued in a way that inspires them to be lifelong ambassadors for your company as an employer. Be creative!
Try these ideas:
- Enjoy a team lunch
- Send a gift with a thoughtful note from the team
- Create a custom trivia game about the employee and host a virtual send-off
Be sure to take the opportunity to collect quantitative and qualitative data through exit interviews and surveys. You’ll learn ways to improve life at your company, allowing you to make informed decisions about how to engage your people throughout the lifecycle.
ASK FOR HELP
Brilliant Ink has worked with companies large and small, across a range of industries, to assess and improve employee experiences. We tailor our approach and move quickly to deliver compelling TVPs that resonate with current and prospective employees throughout the lifecycle. We can partner with you to craft a compelling TVP that strikes the right balance between where you are now and where you hope to be by continuing to hire top talent.
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