Does your employee value proposition matter?
Well, how would you like to see:
- 20% more applicants for your open roles
- 29% higher new hire commitment
- 69% lower employee turnover?
With a well-crafted employee value proposition, your business could experience all these benefits and more.
It’s a valuable part of your recruitment and retention toolkits, helping attract the right people and encouraging them to stay.
What is an employee value proposition?
Your employee value proposition is what makes you attractive as an employer to current and prospective employees.
What value you do offer them if they choose to give you their time and energy? What’s unique about your business?
Money is a part of it, of course. But what about the company culture? Training opportunities? Healthcare? Community?
It’s about so much more than ping pong tables and fancy coffee makers. Those things can’t plaster over a company culture that diminishes employees’ self-confidence or where managers take credit for their ideas. And we all know that happens far too often.
What’s the difference between employee value proposition and employer brand?
Your employee value proposition explains to team members what they can expect from you as an employer.
On the other hand, your employer brand is your external reputation.
So your employer brand is the wrapping around your employee value proposition, if you will. It’s what people see, while your employee value proposition is what employees experience.
Which means, if you’re not careful, there can be a disconnect between the two.
That’s why understanding what matters to your employees, tapping into that, and communicating it consistently both internally and externally, is so important.
How to design your employee value proposition
So, how do you design your employee value proposition to drive success for your team and your business? Let’s take a look:
Ask employees what they want
The only way you’ll find out what employees really want is to ask them. What matters to them? What’s the least important?
Maybe they want more flexible working options, better training opportunities, or closer links between departments.
Regularly sending employee feedback surveys can help you collect this data so that you stay on top of employees’ wants and needs.
And with Workrowd’s help, you can even automate the survey sending and analysis so you can just focus on the results.
Not only will surveys go out without you having to lift a finger, but employee feedback will be automatically processed and visualized in your easy-to-read dashboards.
Which makes it easier and quicker than ever to digest the results and drive impact through your business’s employee value proposition.
Provide development opportunities
People want to learn. It’s the main reason employees leave their roles.
And with the rise of AI, offering your employees upskilling and reskilling opportunities provides them with the peace of mind that even if their job does become obsolete, they don’t become obsolete.
It also shows that you value them as an employee.
So, what development opportunities can you offer?
Is it changing roles, if they’re better suited to a different department—or want a change of pace?
Is it further training, such as to expand their technical knowledge?
A way to explore a peripheral skill, such as a software engineer studying copywriting?
There are endless ways to support employees’ growth, and by association, their mental and physical health when development is part of your employee value proposition.
Create community
Connection is a huge part of what makes us human. As we get older, it can be harder to find it. Work is often one of the places where we can make new friends as adults. As a result, it can play a key role in our mental health.
Enabling employees to feel like they belong in the workplace, that they’re appreciated, and can be their authentic selves makes a huge difference in how employees feel about their working lives.
The workplace goes from being somewhere they go to pay the bills to somewhere they want to spend their time.
Provided they can actually be authentic, not “authentic.” Too often, businesses claim to want a diverse workforce, but when underrepresented talent joins, they find they’re not as supported as they could be. So then how can they be their authentic selves?
Authenticity has been an overused term in HR and marketing for years, but its true value seems to have been drowned out.
One way to avoid this issue and foster a real sense of community and belonging in your workplace is with employee groups.
These employee-led initiatives enable team members to meet like-minded employees, and offer everything from networking opportunities, to learning and development initiatives, to new friendships.
If you want to get more from your employee groups, book your free Workrowd demo today. Setting these communities up to thrive can do wonders for your employee value proposition.
Give employees meaning and purpose at work
Never underestimate the power of working toward shared goals. The University of Toronto found that employees will accept lower salaries if they find what they do meaningful.
When we do something that’s tied to our values, we work harder because we feel like we’re making a difference. We’re doing something that’s important to us.
This collective meaning can also be a driver of customer sales.
For example, Rare Beauty’s goal isn’t just to sell beauty products. It also aims to raise $100 million for the Rare Impact Fund, which supports global access to mental health services and education.
This differentiates it from the hundreds of other celebrity-owned beauty brands out there.
It’s also a core pillar of their employee value proposition. As an employer, it helps them attract candidates who are interested in both beauty and mental health.
Conclusion
Your employee value proposition is unique to your business. It can drive recruitment and retention in either a positive or negative direction.
Listening to employees and making them feel like they’re a part of something is key to ensuring the effect is positive.
By following these tips, you can build a world-class employee value proposition and make employees happy to work for you—meaning they’ll be their most productive selves and you’ll get the most out of them in the short- and long-term.
Ready to elevate your employee value proposition to get the results you want for your business? Workrowd’s tools can set you up for success.
With a one-stop shop for marketing, managing, and measuring all your employee programs, groups, and events, you can maximize your ROI. Employees get everything they need in one place, and you get automated analytics tracking the impact of your efforts across the organization.
Want to learn more? Visit us online or send us a note at hello@workrowd.com to discuss ways we could partner to optimize your employee value proposition.
