THE CONCEPT OF EMPLOYEE VALUE PROPOSITION

 

The Employee Value Proposition (EVP) statement is a positive set factors unique, relevant and compelling to  attract the target group in the whole Talent 4.0 game viz  talent acquisition, engagement and retention.  EVP is a set of job offerings provided by a prospective employer to attract talent.

 The gameplan is to inform current  employees and the external stake holders and future employees of what the company offers .  it  centers on the simple premise that an individual must be clear about his obligation to fulfill in the job role under a current set of business conditions and they  must also be cognizant of the firm's future directions and prepare to add value in new ways under turbulent and unpredictable  emerging business conditions.

 The offering includes a set of offerings both in terms of role and responsibility) and further in terms of compensation and rewards all this embellished with the workplace culture and the subjective (intangible and non monetary)  issues which may attract or repulse the job seeker. The current trend is - EVP is to take the focus away from compensation as the primary "offer". A robust EVP is based on a well defined  employer brand strategy and clear communication plan that gives an honest picture of what it’s like to work for your business.

 

To give an analogy just like a customer brand positioning is based on customer insights, clear value proposition, brand values and a brand promise, an EVP similarly interprets the organizational DNA from  the employee’s (and prospective employee’s) perspective. Hence EVP is often referred to as the EMPLOYER BRAND PROPOSITION.

 

EVP  reinforces this link by presenting a crisp and well crafted statement of why the total work experience at their organization is superior to that at other organizations. Think about EVP from the perspective of an employee or an applicant;EVP statement highlights the central reasons that people will choose to commit themselves to an organization; It focuses attention on   the differentiating  people policies, processes and programs that demonstrate the organization's commitment to i.e., employee growth, management development, ongoing employee recognition, community service, etc.

 

EVP is closely related to the concept of Employer Branding. Whilst employer branding is a brand design exercise; EVP becomes a BRAND COMMUNICATION EXERCISE throughout  the entire gamut of the employee life cycle; not just the systems and processes but micro elements like the job interview experience  and in letters offering employment.

 

EVP should answer the question :“Why would a highly talented person choose to work here?” 

It defines what your company wants to be associated with as an employer—and what your people  can expect in return from you…

 for throwing their hat in the ring and later giving their best  during their employment tenure.

IT IS A TWO WAY STREET: The candidate in turn has his talents and capabilities to place on the negotiation table. The most important question to ask when creating your company’s EVP is “what do we currently offer to our employees in exchange for their time and effort?” The war for talent, skills shortages, disruptive technologies, and volatile market conditions mean it is increasingly important to showcase an attractive offering to potential talent, optimizing the selection process and engaging and retaining the organisational talent base.

 

From an internal communication standpoint, it provides a sense of identity to current employees vis-à-vis the organization and also enables alignment to organizational goals. Whether the organization has drawn out an EVP and communication exercise or not;  the reality is that employees and applicants have a perception of EVP based on their indirect contacts and communications with the brand and even more in a digitally enabled world. 

 

Getting it right is about convincing really good candidates that they want to work with you and that. ONLY IF THE EVP OF AN ORGANIZATION MATCHES WHAT SOMEONE VALUES IN HIS/HER WORK IS THERE A WIN-WIN SITUATION. An employer can then count on a motivated, committed hi-performer; who in turn  will experience his/her job as meaningful and fulfilling.

CONCLUDING

Research show that global giants as in the example above have articulated and are implementing seriously the EB AND EVP. But in India  growing medium-sized organizations and the age-old family managed enterprises which have baggage of the past;  face challenges with getting leaders' commitment to develop the EVP and EB While understanding of EB AND EVP appears to have improved at senior levels, it is still often mistakenly perceived to be an exercise in presentation rather than a more deep-rooted assessment of  an authentic employee experience

TALENT LEADERS 4.0 MODEL THE NEW WAY OF MANAGING PERFORMANCE

 

 

Taking A SYSTEMS APPROACH to performance management is the real breakthrough . The notion of “performance” often extends beyond the individual himself and is greatly impacted by the organization’s strategy structure and processes. A system that is focused on looking back at past performance and assigning performance ratings in retrospect, will severely limit organizational agility. Sustained organizational performance in fast paced Industry 4.0  is likely to be achieved in future through a holistic, year-round, development-centric process that focuses on developing the capabilities not just of individuals, but of wider teams and the organization systems and process as well.  

As the winds of change are blowing companies are refining the metrics they track and the amount and types of employee feedback they include in their processes. Managers are expected to coach employees to help them realize potential. More companies are looking to separate goals setting and evaluations from compensation discussions. And jobs, schedules and training are getting more personalized.

Some trends have already become entrenched practices organizations,  are increasing focus on ongoing performance discussion, feedback and improvement measures. Ongoing performance dialogue will focus not just on performance but also on an employee’s all-round development and career aspirations Also, traditional performance approaches take an overtly individualistic approach, overlooking the nature and value of team interactions. Modern PMS s emphasize future team performance and the way individuals can develop their skills and improve their contribution to the team. Appraisals may be discreetly used to eliminate what they call the "C players" (performance laggards) and relieve a company of the hidden costs of tolerating under performance.

one of the biggest predictors of long-term managerial success was “learning agility” or the willingness and flexibility to quickly and continually recognize, adapt, and use new behaviors, perspectives, and skills. “…The illiterates of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn…”

American futurist, Alvin Toffler

 

JOB PERSONALIZATION/ INDIVIDUALIZED EMPLOYEE SUPPORT IS THE FLAVOR OF THE TIMES

Personalization has become a key part of creating a delightful EMPLOYEE XP , and organizations will continue  the same approach in their performance management efforts. A one-size-fits-all management approach can’t bring out the best in employees because every employee is different. For Talent Leaders 4.0 , this trend means empowering employees to find the best path to mastering skills needed to do their jobs. That translates into a need for customized training that focuses on the specific requirements of a job and individual employees’ specific skills and skill gaps.

Relying on individual data as well as feedback conversations provides managers the tools for tailoring their performance management system,  redesigning employee development strategies and customizing other aspects of work for each individual employee. For example, Some employees are fine working in open, collaborative spaces; others are distracted. Giving employees options where they work, depending on the task, can affect short-term productivity and longer-term engagement. In the coming year, more managers will change their management strategy to take a personalized approach to motivating individuals to help them meet their performance goals, which in turn will boosts team performance.

TALENT 4.0 MOVE FROM BEING THE APPRISER TO A PERFORMANCE CATALYST

Performance-related discussions between bosses and subordinates do not require a formal, full-blown performance PMS . Indeed, it can be argued that the real performance development is in the  coaching and counseling sessions that shape and improve employee performance occur informally, outside any defined  system

YoungGen  (the majority of frontliners)  today deep down accept ownership for their own successes, and partner with their managers.  YoungGen  are more accountable for their own success, and managers share the responsibility for improving employees' performance. Every position has expectations for leadership, and everyone receives coaching. The new system involves ongoing "performance partnership" meetings between individuals and their managers.  Each performance partnership is based on company needs, and expectations are adjusted as business conditions change. Together, each manager and employee make a plan to improve performance and clarify expectations for a set time period. People need short, sharp feedback and to understand their part in the organization; the trend being encouraged to provide feedback as soon as an event, positive or negative, occurs.

A good book to read is the ONE MINUTE MANAGER of Ken Blanchard and Paul Hershey published in 1981 but still contemporary for today’s people management. Companies are moving away from focusing on assessing employees and instead looking at development through coaching them and providing necessary training to improve performance. the ONE MINUTE MANAGER calls them One Minute Goals (Near-Term Objectives) — we’re starting to realize that more regular setting and reviewing of objectives; helps  to ensure that employees are focused on achieving goals and don’t get rushed up until the last moment – just before an annual review.

 

UNDERSTANDING YOUNG-GEN ASPIRATIONS

 

 

Young-Gen ( a composite term to indicate both the Millennials and Gen Z ) have a new world outlook, maverick ideas of workplace and  careers.  The best employers know that millennials and Gen Z  need to be  considered as "young adults." Not to mention, both generations are highly connected to technology and the internet. The Smart Phone with 24/7 internet, Social Media  Google have been making them occupied and 24 hours/day is not at all sufficient for them.

Several old workplace norms are not in consonance with the preferences and aspirations of a young workforce  (Gen Z and Millennials) Workplace 4.0  will see a younger rebellious workforce characterized by streaks of entrepreneurship and go-getting .  Their list of aspirations for a  “dream job”  indicate a widely differing values and assumptions about work. The “talent stars”  and Young-Gen ( a composite term to indicate both the Millennials and Gen Z )  want meaningful, rewarding work, on-demand customer service, simplified transactions, and instant access to information.

BALANCING DEMOGRAPHIC DIVERSITY  IN THE WORKFORCE-  A contrarian trend is   members of the earlier generations remain very active and are increasingly prolonging their working life. Their value is never to diminish.  The differing needs between the different  age brackets in the workplace has really made the issue of balancing demographic diversity more complex .   The moot question:  In what aspects do the earlier generations and the new ones coincide in their interests, and at what points do they differ or oppose one another? In what aspects do the Young-Gen  present radically different employee profiles, and are these differences sufficient to force TALENT  4.0 to reinvent its vision, approach and communities?

 

SOLVING PROBLEMS AND PERFORMING TASKS COLLABORATIVELY is a new challenge with Young-Gen They are  peculiar in their demands and forceful in having a voice. Technology will allow organizations to conduct opinion polling and this will be a gamechanger in the Workplace 4.0. The aspirations of Young Gen @ Workplace 4.0 are clear…. WE WANT TO BE INVOLVED NOT MANAGED. They will  be better  informed, technologically adept, and skilled at ongoing experimentation. Many employees today seem to be searching for “more” than they are able to draw from their work experience. Growth will increasingly emerge from experimentation and innovation that comes from this bottom-up  collaboration – driven by engaged employees, partners, and even customers.

 

CAREER ASPIRATIONS AROUND LEARNING & GROWTH

 

In the changing landscape of  fluid roles, WFH, upskilling and reskilling, man-machine interface the  concept of a career path or development is very different and much hazier. While previous generations continue to think more in terms of a defined career, Generation Y wants to learn and progress continuously. Young Gen has a strong emphasis on opportunities for growth and development; varied career paths  which means  recognition of talents not necessarily related to the professional sphere and the realization of personal aspirations and ideals. Recent surveys have found that young gen workforce  prefers a flexible workplace culture support greater productivity and employee engagement while enhancing personal well-being, health, and happiness This vision is further reflected in their desire for responsive management in which they are given immediate and continuous feedback.

Going forward,  the existing approach to  hierarchical promotion  will not  be possible. There will not be enough upward positions possible to provide the workforce with sufficient numbers of opportunities for variety, learning or increased compensation linked to performance and results especially since retention a major objective becomes difficult since the young-gen is  more eager for frequent change and less willing to remain in one position for extended periods of time.

The learning organization  now means unlearning the past.  Young-Gen does not favor  the linear career path but want  new learning avenues  in line with changing interests and aspirations.

Knowledge workers today are everywhere and the learning opportunity is the real employee experience. In a world that is constantly changing, the most important skill to acquire now is learning how to learn.  learning will be just not at the individual level but team learning and organization wide core competencies need to be development to become the competitive edge in a world where research and knowledge will trigger innovation. It is the foundation of value creation in organizations where ‘intangibles’ drive sustained strategic success. Gig workers have no job security other than their knowledge edge!!!

 

Teaching the Young Gen-Z  is a challenging task; because the intellectual grade of the Young-Gen is better than the previous age bracket due to the abundant resources available around them to enrich their knowledge base (especially in the digital heavy company) . The traditional methods of teaching like theoretical lecturers, power point presentation etc. no longer have been considered as valuable by this emergent talent group. The focus has shifted to learner-centred initiatives; experimental learning ; individualized packages and one-to-one coaching. Reskilling now a strategic initiative,  will be both learner-centered and  employer-enabled to be in tandem with the hyper-speed of change  ! Companies will find their knowledge and learning department more in demand to play an active role in creating a workforce with the skills and capabilities required for today’s economy. A new vista  is opening for human resource departments