Is your employer value proposition still relevant? If it hasn’t changed since before COVID-19, the answer is no.
There’s no doubt that COVID-19 has changed the way we work. Companies have had to evolve how they think, behave and do business, while their employees’ priorities have shifted.
More pressing concerns may mean your employer value proposition (EVP) has been left untouched. But the pandemic has impacted on what employees want from an employer. To meet the changing mindsets and expectations of candidates and existing employees, it is time to rethink your EVP.
So where should you begin?
Gather constructive employee input by taking the time to have conversations with your teams to understand their needs and wants. Take a look at Maslow’s hierarchy of needs, for example. This helps explain employees immediate psychological well-being. Working from home may have affected your employees’ mindset – some may feel less effective and isolated, while others may be feeling more productive and efficient. These conflicting views may mean your EVP needs to be more diverse than before.
Keep your teams involved by communicating clearly. Up to a third of employees consider leaving an organisation if they feel that communication from the top down is lacking, yet the simple act of having regular meetings or creating a dedicated online space for your employees to access company policies and guidance can make a significant difference. You can also use any social media channels you have to share positive messages to boost morale.
Unsurprisingly, candidates trust a company’s employees three times more than the company itself when providing credible information about its culture. There is also now a strengthening call for organisations to focus on their corporate and social responsibilities as an employer, which will in turn engage current and future employees.
Organisations are now witnessing a shift in candidates wanting to work for companies who are doing ‘good’ in the world. The company’s mission, what they stand for and what they are trying to achieve is becoming ever more important. This is about more than words though, and teams will be expecting to see clear and decisive action taken. Engage your employees, get them involved as brand ambassadors with redefining an EVP and promoting it as an employer brand across their network.
Rethink, review and revise
Much of your EVP may still be relevant, however now is time to rethink the benefits on offer to your employee and consider what would really help.
For many employees, the future may seem uncertain. Help create an environment of stability and certainty by demonstrating company stability as part of your EVP. Not only will this appreciated by current employees, but it will also make your organisation more attractive to future candidates.
If your EVP is focused on in-person benefits, consider about refocusing to make your EVP competitive for remote workers. Offer new incentives such as an internet reimbursement stipend or an annual stipend for home office equipment.
Even before COVID there was a growing trend for flexible work arrangements especially in the tech sector, and this has become even more prevalent – exacerbated by the pandemic of course. Indeed, there is a plethora or research from the last few months to support the theory that tech and other workers will be placing an element of flexible working higher up on the list of benefits that they expect employers to provide.
In fact, Forbes found that post-pandemic only 10 per cent of employees desire to return to their workplaces full time. Flexible working will be beneficial not only for your employees but also your company – it allows you to keep your operating costs to a minimum and, perhaps more importantly, employ a more diverse workforce and receive greater productivity.
The pandemic has changed the world of business and employee priorities with it. It is the companies that recognise and invest in the importance of reassessing their EVP’s relevance today that will continue to attract talent and thrive in a post-COVID-19 world. So is your employer value proposition still relevant?