Employee Value Propositions
Are you really listening to your employees?
Creating a viable Employee Value Proposition is the basis for engaging with current employees and attracting new talent . We explore why time invested in building an Employee Value Proposition is never wasted, and how Investors in People help you develop your own Employee Value Proposition.
Ready to create a standout solution to engage your people? Talk with us now
Employees are speaking – are Employers Listening?
We’ve all been through The Great Resignation, endured the arguments about Quiet Quitting, and now it seems we’re in a phenomenally competitive labour market. Yet, we’re still at the beginning of understanding the weirdness that is playing out in the global economy and it’s impact on the talent market.
Despite all this turmoil, employers and employees have come to reconcile themselves with the fact that they need each other!
And with this in mind, some enlightened and progressive employers have opened their doors and their ears and are simply asking their employees what they want…and then finding ways to make it happen.
It’s not complicated; it’s not a sophisticated strategy; and it’s certainly not a new way of doing things…but the thing that is startling is that it’s taken all of the elements above, plus a global pandemic, to bring employers to a position where they feel that it’s ok to ask their people what they want.
We believe that one of the key reasons for this historical reticence is that employers feel that the primary demand will be financial in nature.
We can all agree that flexible working options (remote/hybrid/4-day week) have kicked those arguments into touch. In fact, people are now seen to be actively trading financial rewards for the freedom to select when, where and how they work.
Buoyed by this, you can almost see some employers leaning into to their employees whispering ‘tell me more?’
Add to this that recent studies have shown that people have no issue in now abandoning organisations where vision and purpose don’t align anymore. Forward thinking organisations are tired of guessing what makes their people happy… and the conversation are richer as a result of this realisation….
Why short term fixes to employee demands don’t work?
Why has it taken so much before for employers to ask their employees what they really want?
Because it’s a big subject to be unpacked. #MakeWorkBetter doesn’t come with a simple bonus payment, a pay rise or a shorter working week.
No employer wants to enter that space of offering short term pacifiers or sticking plasters because they know that today’s increase in salary rates to retain staff and steal talent away from competitors across town is too easy to copy, and all of a sudden the planned growth strategy is back on the drawing board.
Moving the material chess pieces has no inherent longevity attached to it. It’s knee jerk, short term and a race to the bottom.
It’s a fix for today but not tomorrow – there is a better way..
The Employee Value Proposition
We know that there is a better way. A way that has been has been proven with progressive and ambitious organisations over the last 30years. We also know that employers and employees both want to find a better way to facilitate insightful conversations around employee wants and needs.
A way where employees and employers can meet in a psychologically safe place.
A way where conversations are structured around purpose, sustainability, stability, security, certainty and profitability that comes from everyone doing the right thing.
It’s where both parties start to construct a viable Employee Value Proposition (EVP) that existing employees can buy into and new employees can see the value in signing up to.
A well-constructed EVP is a critical building block to understanding your employee drivers and building a workplace to deliver…for them and for you.
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Our dedicated and experienced practitioners have worked across all industries and with all sizes of organisation to #makeworkbetter for employees and drive business success and longevity.
Critical Building Blocks of a Good Employee Value Proposition
It should cover the 4 basic building blocks:
- 1. Material Offerings
- 2. Exploring Development Potential
- 3. Community
- 4. Purpose
These are the minimum requirements of any viable employee – employer relationship, but they just don’t go far enough in digging into the day-to-day employee experience, compounded by the fact they are tough to measure, lack definition and are failing to take into consideration today’s challenging conditions and mounting pressure from external factors.
To combat this, over the last 30 years we’ve taken away all ambiguity in this area, so that these factors and many more are explored more deeply using the Investors in People framework, created as part of the We Invest in People accrediation.
We invest in people Accreditation
We started out 30-years ago as a government project and are now a not-for-profit organisation with a purpose to Make Work Better. Central to achieving this goal is our We invest in people accreditation.
We use the We invest in people framework to measure how well organisations are doing at leading and supporting their staff; and the impact of change strategies and initiatives.
It comprises nine indicators – key areas for excellence in people management. Each indicator is sub-divided into three themes, with aligned criteria.
The framework is underpinned by a maturity model, so that organisations can understand their performance against the indicators and themes, and develop a clear roadmap for improvement. This approach is based on extensive research into the concepts of high-performance working and sets out the criteria for different levels of accreditation: Standard, Silver, Gold and Platinum. The current number of employees working for an Investors in People accredited organisation is over 2.7 million. This means that our work impacts communities of all shapes and sizes in more than fifty countries across 6 continents.
What does the We Invest in People framework cover?
It comprises nine indicators – key areas for excellence in people management. Each indicator is sub-divided into three themes, with aligned criteria.
The framework is underpinned by a maturity model, so that organisations can understand their performance against the indicators and themes, and develop a clear roadmap for improvement.
This approach is based on extensive research into the concepts of high-performance working and sets out the criteria for different levels of accreditation: Standard, Silver, Gold and Platinum.
The current number of employees working for an Investors in People accredited organisation is over 2.7 million. This means that our work impacts communities of all shapes and sizes in more than fifty countries across 6 continents.
Why Investors in People?
Assurance
Meeting a Standard like Investors in People is external validation of practices that can be used to develop trust in a leadership team or the capability of an organisation. Investors in People provides assurance by being an internationally recognised, academically accepted, and peer reviewed Standard. The assessment process is controlled and managed to ensure that the final outcome can be relied upon.
Benchmarking
The Investors in People framework uses 27 scales for comparison; so organisations can compare their performance against others and track their own progress over time. It is unique because we have live data from thousands of organisations against a common standard for people management and high-performance working.
Leadership and Management
It’s well observed that one of the most significant benefits of working with a Standard like Investors in People is the direct improvement of leadership and management capability. We bring a unique contribution to this agenda because our Standard is based on leading thinking from organisations, practitioners and academics from across the world. The assessment survey delves deep into the most important characteristics of effective leadership and management, highlighting strengths and key priorities for action.
Recognition
Recognition derived from accreditation is the appreciation, achievement and celebration of becoming an Investors in People organisation. It’s a very important stage of any Investors in People journey. Internally, recognition and celebration from accreditation is valuable because it’s an important ingredient for high performance and creating a culture of putting people first. Externally, recognition also has significant value. Achieving Investors in People accreditation can be used as a way to attract media attention and become more attractive to potential employees.
Performance
Through commissioned research we know that Investors in People organisations demonstrate a 10% efficiency premium on average, over non-accredited organisations. In the latest findings from our 2021 independent research, 86% of Investors in People clients confirm they have a motivated and engaged workforce, compared with 68% of non-accredited organisations. Also, importantly, 80% of Investors in People organisations state that they can attract quality applicants, as opposed to 65% of similar non-accredited organisations.
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If you’re committed to creating a standout solution to engage your people, letting them know that you value them, their contribution, care for their wellbeing and are really listening to help them build a world of work that satisfies their needs then come and chat with us now.
