Gallup released numbers in 2015 indicating that only 13 per cent of employees worldwide are truly engaged in their work. The other 87 per cent vary from partially to fully disengaged. They come to work, go through the motions without any sense of enthusiasm that would encourage them to take ownership, and push to improve their own performance. That’s terrifying!
One of the greatest assets of your business walks out the door every night. What are you doing to get them to return next day inspired, motivated, and enthused to be the best they can be?
Your employee value proposition (EVP)
A compelling value proposition (CVP) is a key differentiator for your business in achieving competitive advantage. Similarly, your EVP is a key differentiator in your people strategy.
Your EVP is critical in helping you achieve Employer of Choice status and put simply, it’s the balance of the rewards and benefits received by your employees in return for the skills, capabilities, experiences, and performance they bring to your organisation. Your EVP should be employee-centered and designed based on a deep understanding of what is important to your existing and potential employees.
Five considerations when drafting your EVP:
1) Understand your people’s WHY
One of the keys to keeping staff engaged is to clearly understand your people’s personal goals and how being successful at work can be one of the vehicles and enablers in helping them realise their goals. The moment we create the bridge in their mind – the link between their personal goals, business goals and what they do daily during work – self-motivation kicks in.
This is the defining moment a person changes from someone with a job to someone with a purpose. Whilst the motivation to do so must come from within, the triggers that compel them to make the switch are ones an organisation and its leaders can create.
2) Acknowledge your people’s emotional wellbeing on an equal footing to their physical wellbeing
I often encounter stressed managers in the hospitality trade; despairing bankers who don’t see their children; pressured recruitment consultants trying to seal the deal. Their emotional well-being is not a luxury; it’s the energy source powering their performance. When it’s low, their performance is low, which has both a short and long-term impact on the business for which they work.
3) Set your people up for success
If you asked your people what great performance looks like, feels like and acts like in their role, how aligned would their answer be with your version? There should be one version of the truth, and in my experience perception and reality are often misaligned.
If you haven’t created absolute clarity about what the expectations are for their role, explained and demonstrated what great looks like, and set them up for success, it’s almost predictable that you and your people will be working to different models and interpretations.
Create clarity of purpose for your people to keep them engaged. Enable them with the mindset (attitude, determination, will), the skillset (technical or soft skills) and the toolset (tools to do their job) to truly unlock their potential and deliver excellence within their role fuelling their inner self worth, igniting their self-motivation, building their confidence and their loyalty will be inevitable.
4) Get the right people in the right roles
This may sound obvious, but most people challenges come about because the wrong people are in the wrong roles. The solution is not complicated. Simply define the type of person who will thrive in your business – their skills, attributes, personality, experience. There is no right or wrong. Just what’s right for you and your business at this point in time.
5) It’s not all about the money!
In a world that has become impersonal, where the big things make little difference, it’s the little things which make a big difference. Personal job satisfaction is driven by far more than financial factors such as salary and benefits – keep that in mind when you come up with a strategy keep staff engaged. Your EVP therefore must have the right blend of non-monetary rewards.
Increasingly, non-monetary rewards are becoming key differentiators, highly valued by employees. These include relocation services, career development, choice of work location, and flexibility to spend time with children and attend school functions and sports days.
Organisations that consider people as merely a paid resource have difficulty retaining good people and generally end up over populated with under performers. Those that value people as their greatest asset and demonstrate it through their actions are positioned to get the best out of all employees whilst retaining their top performers – a catalyst for business growth.