Differentiating themselves from the competition is a concern for most professional services firms. We are developing a clear and differentiated EVP to help our client to attract and retain the best people.
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Posts Tagged as: "EVP"
Differentiating themselves from the competition is a concern for most professional services firms. We are developing a clear and differentiated EVP to help our client to attract and retain the best people.
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I’m sure many of us have followed the ongoing strikes at British Airways by some of their Cabin Crew. I’m not going to go into the ins and outs of this dispute, but instead explore a couple of statistics that are often mentioned – the average pay for BA, when compared to rivals.
BA, apparently, are paying cabin crew on average £29,900, whilst their arch rival, Virgin only £14,000 (source BBC news). So the question is, with such a pay gap, how do Virgin attract, keep and engage their cabin crew? I think it has a lot to do with a clear and attractive Employee Value Proposition.
Virgin has a clear work-hard (and professionally) and play hard proposition. Fun and glamour are all part of the deal, including Branson’s famous house parties for staff. They also accept that being aircrew doesn’t have to be for life – so why not have some fun for a few years, then maybe do something else better paid? And of course if it’s new and exciting for the cabin crew, it’s going to be fresh and exciting for the passenger too. If you pay too much, maybe some people will be there for the wrong reasons (money) – what impact does that have on customers?
Ok, so my title was a little misleading, after all we know that BA costs are way above industry average for historical, ex- nationalised industry reasons. But Virgin does show us that they can have fresh, professional cabin crew, by getting the offer right – and they can keep their costs under control.
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“talentsmoothie were our lead external partners in helping us to create our first Employee Value Proposition in AstraZeneca at both a global and a local level.
From concept design, formulation, testing and evaluation they proved themselves to be immensely capable and more than up to the challenge of advising on one of our biggest and complex pieces of organisational development. Through their rigorous approach, and ability to integrate other core elements such as our business strategy and corporate brand, they helped to ensure that our EVP will be sustainable for us in the medium to long term.
Above all it was their positive can-do attitude, their utmost flexibility and confidence in helping us to navigate ambiguous scenarios that really impressed. From my experience they are one of only a small handful of external partners that really truly understand what an EVP is and how it can work to drive a business and its culture forward.”
Stephen Lochhead – Director, Global Talent Attraction, AstraZeneca
I was chatting to a marketing friend the other day. We were discussing whether companies corporate brands are more important today than ever. We concluded that they probably were given how hard it is to attract and retain consumers and how much more demanding they appear to be. It makes no sense then not to place the same importance on the proposition that you offer employees so that you attract and keep the best ones.
I have been researching the websites of organisations all over the world and am surprised at how few really articulate an employee value proposition (EVP) that sounds appealing and distinctive. Yet surely having a strong, differentiated and appealing proposition is the key to growth in any company in any industry. That is if you believe your employees are key to growth!
Another friend runs a property development business. When I talk to him about how he manages to get and keep great people he intuitively understands the importance of his EVP (though of course he doesn’t use the jargon). He told me he is making extra effort to understand what is important to the different types of people that he employs. Where he can he gives them what they need to feel valued and be engaged. He told me that losing even a couple of key people to competitors who are offering a more attractive proposition could lose him thousands in revenue and hurt customer relationships.
It’s common sense really isn’t it?
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Employee Value Proposition (EVP) is a priority for many organisations right now. The benefits of having a clear and compelling EVP make it a must-have. Research shows that an effective EVP can bring significant benefits:
We are developing and implementing EVPs for our clients using a proven methodology that works for all sizes of organisation.
To discuss your EVP requirements, contact Justine James on +44 (0)207 127 4741
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