No, there is no rocket science to design an employer value proposition. Every company has one, designed by the company or by accident. Design by accident is by far the most common strategy among companies. Most companies don’t bother. Why should you?
Your company has a vision and goals what to do and how to accomplish it. You offer selected people work within your organization to fulfill the vision and the goals. But what you offer people is not just work, you offer them a employer value proposition. The employer value proposition consists of:
- Compensation: salary, pension, insurances, breakfast, lunch, free soda etc
- Professional challenge: demanding tasks, great colleagues, an engaging company vision, an exciting industry etc
- Professional development: regular and planned training, development, mentoring, coaching, career possibilities, great managers to support individual growth etc
- Social activities: Friday fika, Thursday beer, fossball table/Playstation/Xbox, company trip, poker events, Christmas party, sport activities like football, running, kayaking, fishing etc
Employer value proposition important
The goal for the employer is to convince the employee candidate that this specific value proposition is as tasty as possible and that the components in the value proposition support the recruitment, satisfaction and retention of the key employees.
Ok, so employer value proposition is crucial for attracting and keeping key talent. Why not bother?
- Fear of work. The company has to priorities time to evaluate, measure and design the value proposition.
- Fear of change. A new designed value proposition that is adopted to improve the experience among key employees might decrease the value for other employees.
Integrate the value proposition
The creation and retention of an Employer Value Proposition within a large company with silo-ed departments probably need to adjust the proposition so it fits each micro-culture. But the proposition of the micro-culture must be coherent with the company wide strategy.
The employee value proposition should be integrated in the employee satisfaction survey. Metrics in the survey covering the proposition should be highlighted and metrics outside the proposition should be ignored.