Companies like Google, Yahoo, Facebook and other tech giants are well known for their lucrative perks and compensation packages. However, you don’t have to be a Fortune 500 company to develop an attractive Employment Value Proposition (EVP) for your staff.
The Employment Value Proposition is all about the reasons why someone would come work for your company versus another. It is also the reason why employees stay at your company and don’t leave. The EVP goes beyond compensation and often centers around your company's culture, including a sense or purpose, pride inducing workplace values, and the opportunity for personal achievement. You can also transform your physical workplace to increase productivity and creativity, like industry leaders Pixar and Red Bull.
More to Offer
Beyond compensation and an appealing work environment, there are numerous other things you can offer employees. Benefits and a healthy work/life balance can be a great equalizer for companies that can’t compete with salary and wages. Perks can include various forms of pay and benefits, professional development, flexible work arrangements, insurance perks, a wellness program, retirement, carpooling and mass transit passes, and perhaps, a company ping pong table.
Happy employees are productive employees. Business Insider.com features several companies with innovative and cost-effective employee perks: S.C. Johnson’s has a concierge service for employees, Genentech offers dog-sitting, staffing firm Akraya sends professional cleaners to employees homes every two weeks, and MillersCoors LLC has on site pubs for their staff.
The Best Go Further
Beyond a generous 401K matching program, successful organizations are those that commit to incorporating Employment Value Propositions into every aspect of their company. This includes the onboarding process, internal communications, business plans, and more. EVPs can also be evaluated annually to ensure their relevance to the evolving employee experience.
Sure, you might not be able to match Google’s innovative benefits and perks (adoption fees reimbursement, on-site physicians and nurses, tuition reimbursement, and physical work environment), but even taking the time to identify your company’s EVP will move your company ahead of most businesses and give you an edge in attracting future talent.
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