Attracting and retaining talent through well-defined EVP with excellent implementation
Companies finding it difficult to attract and retain talent.
Employees are primary customers of the business. Business, in this case, is a leadership team, people managers and human capital team. Consumers of the goods and services of the business are employees’ customers.
We define customer value proposition (CVP) and design a 4P marketing strategy to deliver the CVP. The customer processes and the organization structure are also aligned to deliver the CVP.
Similarly, we need to define the Employee Value Proposition (EVP) and align leadership, people managers, and people processes to deliver it. The HR strategy should be guided by the EVP.
It is important that EVP is aligned with the CVP and the shareholder value proposition (SVP).
For example, a global telecom company has pension funds as investors. The value proposition for pension funds is consistent dividends and not stock price appreciation. This calls for a profitable growth, where profits are primary and growth is secondary. There customer value proposition globally is great service and superior network. The employee value proposition is developing excellence in customer service. If the EVP was helping people grow rapidly, it would be inconsistent with SVP and CVP and would be difficult to be delivered.
What we offer:
- Leadership Interviews: Understand the business model to deliver SVP and CVP.
Identify the primary customer segment (read employee segment) responsible for delivering CVP and SVP. Identify secondary and tertiary customer segments (employee segments) that support the primary customers.
- Understand the aspirations of customers (employees) – present, exited and perspective – through quantitative data collection.
- Evolution Workshop: Conduct a workshop with the leadership team to evolve a shared EVP.
- Process: Align HR processes with EVP.
- People: Build people managers’ capability and align leadership to deliver EVP.
- Promotion: Communicate and brand EVP.
- Pricing: Create a compensation strategy in tandem with the EVP.
- Implementation of the new processes.
- Coach leaders and managers to “start-stop – continue” doing things that are aligned to EVP. (Example: if the EVP is GET good people; SET them up for success; and GO – let them go after 3 years, managers should not fret when people quit).
- Review, monitor, course correct implementation.
- Identify quantitative measures for success.
- Set up measurement systems to track implementation and outcomes.
- TheOther 2 Thirds team has the highest number of EVP design and implementation to their credit in India. Almost all the successful implementations have been driven by this team. Nobody does it better.