The Ever-Evolving EVP Acronym

Five Fast Tips To Keep Things Moving in the Right Direction

​Just over a decade ago, companies weren’t even talking about an employee value proposition (EVP acronym). Today, however, is a different story. The acronym is a hot buzzword at businesses around the world because the workforce and competitive environment has shifted drastically. A company’s value proposition for its employees is now more important than ever though it is not something that should be etched in stone as some experts suggest transitioning to a more fluid approach. One that can change depending on employee feedback and business alignment. As a manufacturer, you should already be going beyond the basics of sharing salary and competitive benefits to better defining your culture, career opportunities and actual day-to-day work experience.

The truth though is that what companies want to deliver is not always exactly what they do deliver and that can lead to a number of issues related to employee dissatisfaction, turnover and hiring and retention. According to a study profiled in Harvard Business Review by global agency Weber Shandwick, just under 20 percent of employees surveyed felt strongly that the work experience their employer was promoting actually matched reality. Perhaps this is proof as to why almost 30 percent of new hires leave on their own within the first six months of starting a new job. The EVP is a crucial marketing tool but can’t be smoke and mirrors. It needs to be ‘what you see is what you get’ and the culture must reflect what the employee experience truly looks and feels like.
 
It means answering the question, “What do we really have to offer?” according to advice in Human Resource Executive. Because if you don’t answer this question regularly to see if it aligns, you will end up with an EVP whether you intended to have one or not – employees will ultimately define it by how you treat them and what it’s like to work there.
 
If you aren’t sure what your EVP should be or how to stand out in this hyper-competitive job market, here are five tips that may help:

1. Engage your employees – Engagement has to be real, and go beyond simple surveys or team outings. For more information on worker-powered communities and generating real engagement check out the new Corvex eBook Building Worker Powered Communities here. 
2. Keep it flexible – Make sure your proposition can be applied in different ways by different divisions or level of workers. Everyone needs to feel empowered – that means it must speak to both the new employee and the worker who has been with you for 20 years, the one in the corner office and the one on the shop floor.
3. Identify opportunities for engagement so you are bringing the EVP to life. Be able to explain what a good day at your company really looks like.
4. Ensure leadership is on board - Like anything else in an organization, if the leadership is not engaged, a company is doomed to keep making the same mistakes. Leadership needs to be living the EVP out-loud.
5. Make it real - Your EVP should not revolve around who you aspire to be years into the future, but who you really are now as a company. Hence the reason it should keep evolving.  

 
 
 

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