Reflection: EVP by Mercer
Employees are also overwhelmed by this transformation. HR needs to look into an individual employee’s needs and constantly have that communication and feedback session.
What is Employee Value Proposition?
Employee Value Proposition (EVP) is the balance of rewards and benefits that a company can offer its employees, in return for their amazing performance within the workplace. An EVP includes everything an employer is doing to attract and retain employees, at the same time, knowing how to respond to disruption and change.
When I looked at the diagram, I’m constantly reminded of where I am, which part of the triangle do I belong to, and even to the extent of where the people I’m supporting belong to. So I’m looking at something similar to Maslow’s hierarchy of needs, with a base structure like compensation/benefits to support the rest of the structure above. Without it, the purpose, career, and wellbeing of others cannot be easily achieved.
What would I consider when building an EVP?
The thoughts I had as I looked through the diagram:
- How can the EVP be clearly defined? If I clearly defined it for each individual, how should I communicate this to every potential candidate?
- How do I present the benefits that matter to the potential candidates? Should I be constantly communicating to the public so people understand the culture of the organisation and our department as well.
- How do I present myself as an employee so people understand what my organisation offers?