Attracting & Retaining Critical Talent: The power of macro and micro people value propositions

In today's fiercely competitive job market, attracting and retaining critical talent is paramount to an organisation's success. To achieve this, companies are increasingly revisiting their Employee Value Propositions (EVPs), a set of unique offerings and attributes that showcase why an organisation is the best place to work. An effective EVP not only attracts top talent, but also nurtures a sense of loyalty, belonging and commitment among existing employees. In this article, we explore the significance of EVPs, explore People Value Propositions (PVPs), and delve into crafting a macro PVP for the entire company and micro PVPs for different divisions, combining and aligning to create a powerful talent magnet while offering a degree of personalisation.

The Importance of EVPs:

1. Competitive Advantage: In a competitive job market, an EVP serves as a differentiator, positioning an organisation as a more attractive employer compared to its peers. A strong EVP helps in building a positive employer brand, which can significantly impact an organisation's ability to attract high-caliber talent.
2. Employee Engagement: A well-crafted EVP aligns employees' values and expectations with the company's mission and culture. When employees feel a strong connection with their organisation, they become more engaged and motivated, leading to increased productivity and overall performance.
3. Retention: By creating a compelling EVP, organisations can foster a sense of belonging and purpose among employees, increasing their loyalty and commitment. This, in turn, reduces turnover rates and saves the costs associated with recruiting and training new talent.
4. Cultural Fit: EVPs help in attracting individuals who align with the company's culture and values, resulting in a more harmonious and collaborative work environment.
5. Talent Attraction: An effective EVP not only attracts top talent but also passive candidates who might not actively seek new opportunities but would consider making a move for a genuinely appealing proposition.

Transitioning from an EVP to a PVP:

Transitioning from an EVP (Employee Value Proposition) to a PVP (People Value Proposition) that encompasses the extended workforce requires a strategic and inclusive approach, working closely with your supply chain to strengthen your brand capability. Here are five pointers to help you with this transition:

1. Identify Common Values and Aspirations: Start by understanding the shared values and aspirations that are important to both internal employees and external workers. Conduct surveys, research, focus groups, and interviews to gather insights from both groups, identifying what they seek in a rewarding and fulfilling work experience.
2. Broaden the Scope of Benefits and Rewards: Expand the range of benefits and rewards to include the external workforce and enhance your talent pool attraction. Consider offering incentives, recognition programmes, professional development opportunities, and wellness initiatives to engage and motivate both internal and external talent.
3. Promote Diversity and Inclusion: Ensure that the PVP emphasises an inclusive environment that values diversity and treats all workers with fairness and respect. Encourage diverse talent pools from all backgrounds to be part of the organisation's success. Remember, D&I leads to innovation and improved business performance.
4. Extend Learning and Development Opportunities: Provide access to training and development resources for the external workforce, just as you would for internal employees. Demonstrating a commitment to their growth and skill development will enhance their loyalty and contribution to the organisation.
5. Streamline Communication Channels: Create effective communication channels that facilitate seamless interaction between internal and external workers. Encourage open dialogue, feedback sharing, and transparency to foster a sense of belonging and unity among all workers.

Crafting a Macro PVP:

A macro PVP represents the overarching value proposition that encompasses the entire organisation. To create a macro PVP:

1. Define Core Values: Start by identifying the core values and principles that guide the company's decisions and actions. These values should be authentic and deeply ingrained in the organisation's culture.
2. Understand Target Audience: To attract critical talent, it's crucial to understand the expectations and aspirations of the desired candidates. Conduct surveys, interviews, and focus groups to gain insights into what potential candidates seek in an employer.
3. Highlight Unique Offerings: Showcase the distinct benefits and opportunities available to employees, such as career growth, learning and development programs, work-life balance, flexible work arrangements, and a positive work environment.
4. Promote Organisational Vision: Communicate the company's long-term vision and how employees' contributions are vital in achieving these goals. This instills a sense of purpose and meaning in their work.
5. Emphasise Total Rewards: Beyond salary, highlight the comprehensive rewards package, including health benefits, retirement plans, bonuses, and recognition programs.

Creating Divisional Micro PVPs:

A macro PVP sets the foundation, but personalisation is key to appealing to diverse talent pools within an organisation. Micro PVPs tailor the value proposition to specific divisions or departments:

1. Understand Divisional Needs: Each division or department may have unique talent requirements and preferences. Conduct surveys and interviews within each division to understand what motivates employees in different roles.
2. Align with Macro PVP: Micro PVPs should align with the macro PVP, emphasising the overall organisational values while addressing division-specific needs.
3. Focus on Career Growth: Highlight growth opportunities specific to each division, including specialised training and development programmes.
4. Recognise Individual Contributions: Personalise recognition efforts to celebrate achievements within each division, reinforcing a culture of appreciation.
5. Tailored Work Environment: Micro PVPs can incorporate division-specific work arrangements and perks to meet the unique needs of employees.

Aligning Macro and Micro PVPs:

To ensure consistency and synergy, organisations should focus on aligning their macro and micro PVPs:

1. Communication: Regularly communicate the PVPs across all levels of the organisation to ensure a unified understanding.
2. Cross-Functional Collaboration: Encourage collaboration between different divisions to share best practices and create a cohesive employee experience.
3. Feedback Mechanisms: Implement feedback mechanisms to continuously evaluate the effectiveness of PVPs and make necessary adjustments.

PVPs can play a pivotal role in attracting and retaining critical talent, becoming not just an employer of choice, but a workplace of choice for all. Crafting a macro PVP that represents the company's core values and purpose and supplementing it with divisional micro PVPs ensures a powerful talent magnet that offers a degree of personalisation for everyone. An authentic and appealing PVP can be the driving force behind a company's ability to thrive in the competitive job market, fostering a total workforce committed to achieving organisational excellence.