Employee Value Proposition

Do you know if your organization has an ‘Employee Value Proposition’ (EVP)? If you’re thinking NO, think again. Your organization may not have defined and even promoted their EVP, however the EVP exists and your employees and prospective employees are talking about it. So what is EVP, and why focus on it? 

Employee Value Proposition, as the name suggests is what ‘value’ the organization offers to its employees. This ‘value’ is an outcome of the organizations DNA and remains relatively constant over a period of time. It is an outcome of the organization’s Culture, its practiced Values, its policies and the employee climate it creates. 

The EVP can be highlighted in the Employee Branding to showcase the organizations uniqueness. It is selected with care to ensure that the organization has a unique ‘Competitive Advantage’. 

While branding, it is essential to ensure that the strengths of the existing culture are highlighted in the EVP. The aspirations of the organization also need to be captured. Presenting an EVP that is only based on aspirations and leaving out the current culture may lead to attracting candidates, however retention of such employees may not be possible. 

At Liberty Videocon General Insurance, we have a culture, a work environment that helps people stay and thrive. This culture provides a ‘Sense of Belonging’. Here, it is more than just an employer and employee contract, it is a relation that is built over time and over interactions and conversations. Having a culture with values and encourages ‘Self-expression’ i.e. encourages people to ‘Be themselves’ at our workplace. Employees have access to different forums to express themselves. People are ‘Empowered’ in their roles and various initiatives which supports them to succeed. They are provided space to work in their style to give their best. At Liberty Videocon ‘Employee Experience’ is the key to our culture. Some of our unique initiatives include Comprehensive On-boarding and Induction Program, Learning Leaders, Conversational Townhalls, Stay Interviews, Cross Functional Skip Level Meets, Conversational Cup Meet Ups and many more. 

The bottom-line is that the EVP enables the organization to Attract, Engage and Retain employees. It is good practice to study the trends, i.e. what the target talent segment ‘values’ and highlight those practices and culture attributes that are valued and also match with the strengths of the existing culture. Based on the discovery we could enhance and build what already exists and is also valued. 

So what is the EVP that you are building, nurturing and promoting is your organization ?

This article was originally published in the 'Insurance World' Magazine, August 2015 issue