EVPs are a powerful tool to retain and attract employees. Have you ever thought about the benefits it provides for employees? This article will show you how to make EVP more efficient so that employees don’t leave.
It is not easy to retain motivated employees for small, medium, and large businesses.
According to CNI in a March article in UOL, the unemployment rate could rise to 14.6% by 2021.
Another alarming fact is that many companies were closed during the covid-19 crisis. IBGE estimates that 39.4% of paralyzed businesses had to cease operations in 2020.
These indices show the problems that companies have had to overcome during this historic time for humanity.
It is important to be aware of them as they may indicate an aggravation rather than a cause for an economic crisis.
A Census survey found that more companies were shut down than opened in 2018, resulting in a decrease in survival rates for businesses in the country. This was a result of a 382.2 thousand loss between 2013-2018.
This is due to the fact that many corporations are not paying enough attention to tools that can help retain talent. TheEVP is one of these tools. Are you familiar with how it works?
If you are still unsure, continue reading this article to find out the importance of EVP and how it can be used to help your company avoid losing money due to the constant changes in employees.
EVP stands for Employee Value Proposition, an acronym in English that means Value Proposition to the employee.
This strategy is used by companies to attract top professionals and to motivate them to follow their company.
This is a company policy to be more attractive to potential employees.
Catho article: The testimony of Isadora Marque explains the concept of EVP. It is “a company’s employment value proposition. It is the strategy that a corporation follows to attract labor that matches the profile and taxes of its corporation.”
A company’s intention to promote the EVP would be to resize its employer branding. This is nothing but transforming a corporation into something that is desirable and satisfying for future employees.
This section will help you understand its significance and the implications of the measure.
According to Vagas For Business, the following are the most immediate impacts of a company adopting the EVP policy:
Higher chance of attracting a top employee: A company must have a positive and welcoming work environment. This makes the company more appealing to talented employees who want to be more fulfilled at work.
Employee retention: The most talented employees will be retained if their leaders are more motivated and appreciate their efforts. Companies that are concerned about the physical and psychological well-being of their employees tend to see a reduction in turnover rates.
Engaged employees are happier – Have you heard the phrase “So-and-so sported the company’s shirt?” According to Vagas, employees who are satisfied with their salary, benefits, career path, and organizational climate tend to care more about their company’s success, which is according to the article.
Greater brand awareness: This is a very good result. It is a sign that a company is on the right track if it can achieve this. The company is already taking steps to value its employees’ well-being. In turn, they act as ambassadors for the employer brand, attracting more people to the same place and maintaining the positive image of the company.
Before implementing EVP in a business, there are several steps that a company must take.
Onze’s blog, which is well-known in Fintech circles, outlines some key points that can help a leader of a company to improve and refine their EVP practices.
Find out how to make them stronger for your brand.
Your brand’s distinctive value: A company’s success is directly related to its identity. It is important to identify your unique value, which makes your business stand out from the rest.
Listen to professionals’ opinions: Eleven recommends interviewing former and current employees to get their opinion about the company. Managers will be more successful if they can understand the failures and successes.
How to make your employees happy – Benefits go beyond just their salaries. So that employees feel more motivated and at ease in the workplace, you can offer flexible hours and private pension plans.
Provide solid career plans: This is crucial for anyone who wants long-term employment. Your professional motivation to remain in the company is key. There are professional courses and growth opportunities available.
Create a harmonious organization climate. Avoid making noises in the workplace. They will cause professional motivation to wane. Communicate clearly to ensure that the professional and corporate interests of all employees are aligned.
Angelica Madalosso is a businesswoman who has had a lot of success with EVP in her company. She spoke with Jornal do Comercio about how she started her “corporate education consulting” firm.
The article highlights the exact impact of EVP practices on companies. It also shows that employer branding is more than communicating the differences of an employer brand. This is done to encourage employees to spread the message throughout their day. If someone tells their colleagues they love their job, it promotes the company.
Angelica’s company has a great motto, according to their website. It is to transform difficulties into motivating stories that will inspire all employees of a company.
“We believe our work is a beginning point for corporate life. We reveal the potential in adversity and create possibilities for growth. We show strategies to help people and teams rewrite their stories through transformative experiences.” The text is available on the website.