Getting to know your EVP
Do you know how to identify your company's Employee Value Proposition? For HR professionals, it can be a challenge to keep up to date with the latest changes to your company's EVP. So here's how you can check your EVP instantly – so you'll never lose track of employees'?needs and expectations:
What is my EVP?
Your company's Employee Value Proposition (EVP) is the collection of unique incentives and cultural values offered to your employees. This is your?brand's unique selling point?in the job market; it's the reason why candidates join and stick with your business.
Your EVP includes…
How to check your EVP:
Keeping up to date with your company's EVP will help keep employees engaged, motivated, and inspired in their roles. It's also a crucial part of your staff retention strategy! Here's how you can quickly check your EVP:
1 – Choose which benefits/cultural incentives to research?
To check your EVP, you'll first need to identify the correct areas to research. This means collating your company's tangible benefits across all departments to gain in-depth feedback.
You should already have a good idea of which incentives your company offers to its employees. If not, you'll often find them in employment contracts or recruitment advertising materials like your careers site content.
You can also include new benefits that your business doesn't currently offer but could incorporate in the future. Get creative!
2 – Survey your employees
Next, you'll want to survey your employees to get feedback on your current/suggested benefits package. This could form a 'like/dislike' scale, allowing employees to identify which benefits matter most/least to them.
There are many ways to conduct surveys in the modern workplace; you can use email, gamified apps, or even go classic with paper!?If you're after a gamified app, then why not check out our gamified EVP survey tool?
Whatever you use, it's always best to?make workplace surveys anonymous?to obtain accurate, unbiased data.
3 – Analyse feedback trends across key cohorts
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Once you've surveyed your employees, it's time to collate the results.?
For smaller workplaces, this might be as simple as calculating an average score across your entire workforce. For?larger companies, you'll want to analyse feedback across different cohorts, such as departments, seniority levels, locations, or job roles.
It usually helps to input your data into a visual graph/chart. This will make it easier to identify critical trends across employees' feedback and compare/contrast their opinions on various factors.
4 – Use the data to identify your company's EVP
You'll be glad to know that the most challenging part is over! Now, all that's left to do is identify which benefits, incentives, and cultural factors matter most to your workforce –?this is your EVP!
If you've asked for employees' feedback on suggested rather than current benefits, this data will help you to decide which ones to?finance?and implement.
For benefits that employees value less or cultural factors that aren't appreciated, you should consider realigning these to prevent any future engagement issues.?
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With Talos Engage, you can check your EVP instantly to build a more?dynamic HR strategy?that responds in real-time to your employees' wants, needs, and expectations.
Improving your EVP doesn't have to be complicated, either! Talos Engage is a gamified tool that identifies employee sentiments in minutes, allowing you to make?data-backed optimisations?to your EVP. It also provides an easier way to meet employees' changing expectations, and retain an inspired, committed, and happy workforce.
– Gamified EVP research and optimisation
Talos Engage is our gamified EVP research platform – giving companies a better way to align their HR strategy with their?employees' expectations.
– Goodbye surveys; hello to our swipe-card interface!
Employees play the game – swiping left, right, up, or down to indicate which benefits matter most/least to them.
Data is instantly formulated into an insightful report, helping you align your benefits package with your?core workforce values.
With Talos Engage, developing an EVP that attracts, retains, and inspires?successful employees has never been easier.