Employee Value Proposition: An essential strategy in delivering great CX
Three steps to designing a compelling Employee Value Proposition for your organisation
Employee experience drives customer experience
One of the most effective levers to delivering an outstanding customer experience is improving the experience of our own employees.
In fact, research shows that organisations with more engaged employees outperform their competitors by 147% (Forbes, 2018). An investment into employee experiences has a direct impact on the customer experience and therefore, organisation performance.
So, how can organisations build and maintain a competitive edge by leveraging its employee experience?
One way to drive better employee experiences is to offer compelling Employee Value Propositions (EVPs). EVP is a set of unique benefits and reasons why your organisation is a desirable place for people to work and grow. Well-defined and well-delivered EVPs generate greater employee engagement and help motivate them to deliver outstanding Customer Experiences. According to QualtricsXM, 79% of companies with engaged employees have better customer experience delivery. Therefore, EVP is a critical component if your organisation wants to:
So, how can organisations design compelling EVPs that truly resonate well with their employees?
If you aspire to become an employer of choice, then there are three key steps you’ll need to take and align to design a winning EVP:
- The organisation’s ecosystem and environment,
- Your winning aspiration and strategy, and
- Your employee experience.
1. Your organisation’s ecosystem and environment
Major shifts in the work environment have completely redefined the traditional design of EVPs. Attempts to modernise employee experience with open office space layouts, games and free lunches can no longer be relied on as a point of differentiation.
For many organisations, the focus has shifted from managing the employee experience to delivering a holistic life experience for employees. This takes more of a human-centric approach in designing EVPs, delivering offerings around employees not only as workers but people. This approach centres its design around the whole person's being, focusing on holistic features that address the core needs of employees by recognising that work is a subset of life rather than it’s own distinct world. According to Gartner, organisations that support employees across their life experience see a 23% increase in employee mental health, 17% in physical health and 21% increase in the number of high performers.
Industry-wide scoping and trend analysis will give organisations the insight into changing norms and innovation that will drive expectations now and into the future.
2. Winning aspiration and strategy
Well-designed EVPs must highlight the unique differentiation within your organisation's purpose, winning aspiration and strategy. It should articulate what makes your organisation unique from your competitors, and inspire and motivate your employees. A key part of this is your company values. Consider them as beacons to like-minded talent and use them as a starting point when developing EVPs.
By defining what makes your organisation uniquely desirable, you can ensure your EVP statements effectively retain and attract top talent.
3. Employee experience
The third pillar of successful and well-targeted EVPs is to have a deep understanding of the experience and perspectives of your employees.
Explore employee perceptions and perspectives of the organisation and learn if there are gaps in what you are currently offering and communicating. Ask what your employees value. Seek to understand what their needs and expectations are, and how these are being met or unmet. This will give you the insight to define what a holistic life experience for your employees looks like, in context of your organisation and its distinct cultural environment.
Organisations can establish a baseline understanding of this by conducting Empathetic Research with prospective, current and past employees. Through this, organisations are able to find ways to tailor fit their EVP offerings and address the different needs of employees across teams and departments.
Overall, EVPs need to be forward-looking, differentiated, and human-centric for them to stand out and resonate. As the pillars change over time, your EVP needs to be revisited as the organisation and the employee landscape evolves.
Employees are your greatest asset. When staff are highly engaged and motivated, they will deliver exceptional customer experience and drive organisation growth and performance.
Happy employees are key to happy customers. Once organisations start to recognise that employee and customer experience are two sides of the same coin, growth and benefit opportunities become endless. If you want to invest in your people but you’re not sure how, CEC can guide your organisation every step of the way. Get in touch with us below.