The employee value proposition helps employees see beyond compensation and benefits to the larger picture. Although there are other elements of the EVP that attract top talent and keep your best employees in place, it’s safe to say all employees care about their pay and health insurance.
Beyond that, many elements of the EVP will be different for each individual. Some people are looking for a company where they can enjoy a better work-life balance. Other employees might secretly enjoy racking up air miles and staying in hotels all over the world. Some folks want to be able to wear T-shirts and flip flops to the office. Hourly workers in positions that don’t promise much career advancement might appreciate tuition assistance to get that college degree.
Although we can’t assume that diverse personalities will want the same things, people in certain life stages often want similar perks. New parents might particularly value the options of flex time or working from home. Those in the early stages of their careers will likely be looking for a company with a great deal of opportunity for growth. Although Gen Y employees often rank meaningful work high on their lists, that factor can also be a big deal to many Boomers.
The EVP provides answers to the employee’s question, “What’s in it for me?” It’s wise to remember, however, that the right answers will be different according to what any individual employee values most in life.
Ready to explore your employee value proposition? Tribe can help.