Four ways to make your EVP your MVP
“You don’t win championships by just being normal, by just being average.” So said American basketball player Bill Walton.
How can you get your EVP (Employee Value Proposition) to win the MVP (Most Valuable Player)? How can you ensure your EVP is far greater than average, winning this prestigious “star player” award against your competitors - making attraction easier, increasing engagement, and better retaining your employees?
But first, what is an EVP?
Put simply, an EVP answers three questions:
1) “Why would candidates choose your organisation over others?
2) "Why do people work here?"
3) "What's special about your company?"
It combines every aspect of the employee experience, from salary to benefits, to even the coffee found in the breakroom. It’s all the things that make your organisation an attractive place to work.
Here are four things to keep in mind if you want your EVP to win the MVP:
1) Make it unique
Your EVP should incorporate your corporate brand, your employer brand, your purpose, mission and values, making it unique to your organisation.
To win a MVP you should have programmes that show this uniqueness to candidates and to your employees. One way of doing this is to design benefits which are are unique because they are aligned to your business. A few examples are BrewDog’s pawternity leave benefit (employees can take a week off when they get a new puppy or rescue dog), and AirBnB’s annual travel allowance (employees given £1,500 to be used to travel and see the world).
2) Make it relevant
Your EVP should be meaningful to the people you employ because it is relevant. Think strategically about your workforce demographic – Who are they? What are their interests? What are their lifestyle needs?
To win a MVP you should have programmes that appeal directly to your workforce. An example are the wide variety of loans that Goodman Masson offer their employees to include student, home improvement, new parent and exotic holiday loans, all geared towards their young workforce.
3) Make it compelling
Your EVP should evoke interest and excitement in a powerful way. Explore new and fresh initiatives that will deliver an even better experience to your people.
To win a MVP you should have programmes that create this better experience. A few examples are Weebly’s Wanderlust paid sabbatical programme and Timpson’s free use of their holiday homes.
4) Make it heard
Your EVP should be understood by your employees, which can only happen if it’s clearly and effectively communicated. Ask yourself - Do my employees understand my EVP and my programmes? Do they value and engage with it?
To win a MVP you should have a communication strategy and programmes that get your messages across over and over again. An example is Home Group’s communication portal titled “Reward Scene” which is a street map-themed portal hosting benefit and recognition programmes. Divided into three zones, Benefits Boulevard, Hero Heights (Recognition) and Wellbeing Walk, the themed areas and street signs make it easy and fun for colleagues to navigate between their offerings over and over again.
If you keep these in mind, and keep “your eye on the ball” by focusing on creating the best employee experience possible, you’re bound to win the MVP award. So go out there and do it!
Debra Corey is group reward director at Reward Gateway.
This article was provided by Reward Gateway.
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