Posts Tagged ‘attract’

Attract Top Talent with Your Employee Value Proposition

Tuesday, May 26th, 2015

employee value propositionYour Employee Value Proposition (EVP) is a critical tool in your efforts to attract top talent and keep your best employees.  Think of your EVP as the elements that would make up the second half of this sentence spoken by one of your employees, “I give my time, talents, best effort, ideas for making things better and drive to succeed to (fill in your company name) and in turn I get…”

These should be your key selling points when you are talking to great candidates and when you are reminding your employees why they continue to make the good decision to stay with your organization.

The Corporate Executive Board has released data demonstrating the importance of the EVP.  An attractive EVP can reduce the compensation premium needed to hire top talent by 50 percent.  An effective EVP enables an organization to improve the commitment of employees by up to 37 percent.

Now let’s be clear, I realize not every employer can have Google-level perks.  But you need to concentrate on the key things that differentiate you as an employer against the other companies with which you compete for talent.

Here are a few areas where you can differentiate:

  • Pay
  • Health insurance benefits
  • Vacation and paid time off
  • Work-life balance or blend
  • A clear organizational purpose/mission
  • Meaningful work
  • Career development and learning opportunities
  • Positive work environment
  • Autonomy
  • Big goals and a driven workforce

It’s not just one thing that makes a difference.  And despite the fact that I listed pay first, that is only one piece.  Many people would be more than happy to take the average wage for their role to work in a great environment where they are well respected, with a great work-life balance and the chance to make meaningful contributions.

Evaluate your organization’s EVP.  If you are not sure what it is, ask a group of your best employees.  Capture it.  Put it on paper.

Now think about the audience who you want to be able to attract and keep at your organization.  Do research on that group.  Does your EVP match up to what’s important to them in an employer?  If not, what do you need to change to make your organization a more attractive destination for them?

An important point is that you need to make sure your EVP aligns with the wants and needs of the talent you want to attract and keep.  If it doesn’t, you are investing money in the wrong things.  Reevaluate the situation and make choices based on what you know about your audience.

Having a well-formulated EVP based on strategic choices you’ve made as an employer will give you an advantage over your competition for talent.  If you haven’t already developed a clear EVP, now is the time to do so.

At CAI, we are happy to talk you through this and all of your other HR issues and opportunities.  Feel free to give our Advice & Resolution team a call at 919-878-9222 or 336-668-7746.

Attract, Retain and Engage: CAI’s 2011 Compensation and Benefits Conference

Thursday, September 22nd, 2011

On August 31 and September 1, CAI invited HR professionals and company executives to attend its annual Compensation and Benefits Conference at the McKimmon Center in Raleigh. More than 180 guests participated in the two-day event. Learning different methods to approaching compensation and benefits and receiving legal updates were top reasons people attended.

“I want to improve my understanding of compensation as it relates to benefits. I want to gain more insight on the topic,” Yolanda Melvin, benefits administrator at PHE, Inc., said when asked why she decided to attend.

conferenceThe late summer conference aimed to help organizations attract, retain and engage their employees by offering innovative strategies to recognize and reward staff in any economic setting. For each of its conferences, CAI strives to provide attendees with speakers who present informative, relevant and captivating content. This year’s speakers ranged from a Lead Consultant in Engagement Assessment and Insight from Aon Hewitt to a Distinguished Professor of Strategy and Entrepreneurship at the UNC Kenan-Flagler Business School.

Conference guests enjoyed five presentations that offered information to plan ahead for a changing workforce, different economy and competitive business climate. Speakers shared their knowledge on re-engaging a mentally and physically exhausted workforce and what rapidly changing demographic trends employers should be preparing for. CAI’s Director of HR services, Molly Hegeman, revealed the results of the company’s 2011 Wage and Salary Survey during the conference. CAI also ensured that attendees received an update on healthcare reform and learned different methods to communicate benefits issues with their workforces.

“I’m always interested in anything that has to do with the healthcare reform because it’s going to impact our company a lot,” Stephanie Moore, human resources representative at DAK Americas, said regarding the presentation she was interested in seeing.

In addition to participating in the main events, attendees had the opportunity to join several of the conference’s breakout sessions. Some of the session topics included:

  • Current Trends in Retirement Plans
  • The New Frontier: Expanding the Paradigm of Organization Well-Being
  • Making Incentive Compensation Work for You
  • Wage and Hour Compliance

CAI works to provide participants with a great experience while educating them on best practices for compensation and benefits.  Professionals who attend the conference get to network with other industry leaders while they analyze research findings, consult on total reward strategies and receive the latest updates on issues that will affect their businesses.

“I always like [CAI’s] conferences. It’s a lot of good information. It’s always relevant. I do a lot of the surveys for CAI, so it’s always interesting to see that the feedback from those surveys is presented in all of their conferences,” Moore said.

For more information on CAI’s annual Compensation and Benefits Conference or help with keeping your workforce engaged, please contact an account manager at 919-878-9222 or 336-669-7746 or visit www.capital.org/compconf.