Much has changed in the global corporate landscape over the past years with the dawn of the pandemic including employee expectations and priorities in the job market today. With the age of the Great Attrition amidst us, workers are well on their way to finding jobs and careers that feed their needs and align with their values. While upgrading corporate policies and building initiatives to support employee needs is well and good, on-paper policies do little for long term employee retention in the absence of an inclusive and non-stifling work culture. The major goal of any organisational EVP in the now would be employee retention and talent acquisition.
What we must strive to achieve as employers, and the most efficient way to beat the industry’s high attrition standards is to build a truly empathetic and accommodating corporate culture that is a reflection of the organisations value system. That being said, there are a number of aspects that must weave together to define a successful EVP in today’s rapidly advancing environment.
Beyond salary increments: What is it that employees really want?
With the ongoing talent war, employees are endlessly flooded with job offers and interestingly, salaries are not the only deciding factor. Conversations around organizational vision, peer group quality, work-life balance, employee burnout, and workplace flexibility are long discussed topics since the shift to remote work at the beginning of 2020. These aspects hold high importance for job seekers and employees today and must be seamlessly integrated into the work culture and focus on communicating the Employee value proposition of the company. Understanding employee asks and getting their honest feedback will allow for an organisation to go a long way in creating a favourable environment in which the holistic well-being of professionals is taken into account. It is of utmost importance for employees today to know that their workplace will take care of them.
Holistic career development
With emerging technologies on the rise, professionals are now constantly on the lookout to learn new skills, both that add value to their current job positions and those that will aid in long term career development. Such upskilling offerings by organisations certainly make for exciting job prospects and peak candidate interest. Paying attention to employee’s personal growth will make them feel valued and lead to a workspace where employees are treated more like people and less like mere workers. Online course certifications, L&D offerings, and internal training programs are commonly explored upskilling initiatives by organisations today.
Value based leadership
The key to ensuring a healthy work environment is the motivation and guidance offered by leadership and management at corporations. It is important that superiors share the organisations EVP values and practice them in actuality. This is often a gap identified in the absence of robust internal communication around employee practices and values governing them. Being able to manage your subordinates efficiently and respecting their time and well-being while practicing empathy and approachability is the sign of a good leader. Further, leaders play a predominant role in gauging what is fundamental to their workforce basis which impactful EVPs can be drawn up. Lack of effective communication at leadership levels can time and again lead to unhealthy work dynamics and in turn, increase attrition.
Flexibility and freedom of choice
It is no secret that the millennial and Gen Z segments of the workforce value flexibility above all else in the post pandemic work environment. Organisations must work with their employees to re-establish adequate work-life balance by considering their feedback and holding space for what employees truly need along with the larger goals of the company. Flexible working hours, sufficient leave accommodations, and moreover, establishing an open channel for feedback greatly contributes to how employees feel about their work arrangement. HR functions can work towards restructuring on-boarding programs and cater them to employee needs, and moreover, allow professionals the freedom to choose how, when, and where they want to work in line within the boundaries of organizational requirements.
The pandemic has brought to the fore several challenges for the present day workforce who are overwhelmed with responsibilities of child and family care or are faced with the demand to relocate from their hometowns. This is only one aspect among many that the Indian workforce is dealing with today. It is crucial that organisations harbour these into account while formulating back-to-office policies and remodelling work structures. The ultimate indicator of a good EVP is a happy workforce and one thing is clear- for the future of work, flexibility is a non-negotiable.