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Measuring Employee Value
The Employee Value Proposition: 6 Things You Need to Know
- A Definition
So exactly what is this thing we call an Employee Value Proposition? Essentially, it is a measurement of the balance between what an employee receives from their employer in return for their performance on the job. In other words, it is the "get" versus the "give." If in the employees' minds they "get" rewards equal to or exceeding what they "give," the company will tend to have more satisfied employees and increased retention.
- The Significance of an EVP in Recruitment
From a recruitment standpoint, it is the "get" part of the Employee Value Proposition that is the focus. That's because recruitment advertising is no different from consumer or business-to-business advertising. To generate the most action from an ad placement, you must answer the candidate's most important question: "What's in it for me?" And that is precisely what you'll find in the "get" part of the EVP.
- The Importance of Branding
Recruitment or Employment Branding is generating more and more interest among today's aggressive employers. However, it is fairly common to see employers and other professionals get Employment Branding mixed up with the Employee Value Proposition. The brand is the personality of the company. Those companies that have done the best job of branding are able to concentrate on the EVP in their advertising to potential candidates. In others words, the company can invest most of their advertising dollars into more of the persuading factors that give them a competitive edge. And let's face it, your ad is unquestionably a sale of your company to potential employees.
- Look at Core Positions
Could the details of an Employee Value Proposition differ from area to area of a company? Certainly! That differs from the brand, which remains constant. So the first thing you need to do is look at your major target audiences. In healthcare, for example, you could look at Registered Nurses, Radiology and Pharmacy. You need to determine exactly what attracts candidates to each of your core positions. Then, use this valuable information to clearly state what makes your company the obvious choice over the competition. But remember...advantages may differ within a specific discipline. Using healthcare as an example once again, the advantages may be somewhat dissimilar between an Operating Room Nurse and an Emergency Department Nurse.
- Get Input from Various Groups
To be effective in understanding the "get" side of the Employee Value Proposition may very well require discussions with individuals who currently fill these core positions. What you, as a recruiter, feel constitutes the selling points may not totally reflect reality. So talk to others. It could give you some insights that are a revelation to you and a great help to the results if used in your recruitment advertising.
- Develop Focus Groups
It may very well be that you would like to go through a more formal process in determining your company's advantages as an employer. That would require setting up focus groups. Such groups can be run by an outside consultant who is well-versed in conducting effective events or your recruitment advertising agency may have experience in running these productive sessions. In either case, you should not be present at the focus group. Employees need to feel free to make comments. This will ensure your ability to get meaningful information that, if used properly, can lead to more productive recruitment advertising.
This article from HR QuickTips provided by Davis Advertising Inc.
For more HR QuickTips visit www.Davisadv.com