How Employee value position affect to IT industry

“A business makes nothing but money, is a poor business” - Henry Ford

What is Employee value position?

(Bravery, et al., 2019)

Employee Value Proposition (EVP) refers to the rewards and benefits received by employees in return for their performance at the workplace. It is one of the most important factors to consider for any company looking to attract and retain top talent.

When it’s come to the IT industry EVP plays a major role in recruitment and retaining the top talents within the companies. Over the past decade, candidates have been steadily becoming more and more powerful in the job search. Ever since attracting best talent became harder than ever, consistent and efficient communication of employee value proposition has become extremely important. With the top talented person in the workforce, the employer can gain high ROI.

According to the Corporate Leadership Council, organization with managed EVPs are able to effectively source from more than 60 percent of the labor market.

EVP includes,

“Opportunity includes career and development opportunities and organization growth rate. “ (Anon., 2019)

                In IT industries, there are lots of opportunities everywhere. Therefore, employers must provide many opportunities for their employees if they want to retain a talented workforce with them.

“People: includes manager quality, coworker quality, senior leadership reputation, and camaraderie.” (Anon., 2019)

                This is one of the most critical parts, the employer must think about in a deep way as this might cause high employee turnovers.

“Organization: includes market position, product/service quality, and social responsibility.” (Anon., 2019)

“Work: includes job-interest alignment and work-life balance.” (Anon., 2019)

                IT industries, nowadays more focus on employee job satisfaction. For example, many IT companies in the world offer flexible work hours and even working from home facilities, which has become one of the demanding needs. These were able to add enormous value to EVP

“Rewards: includes compensation, health and retirement benefits and vacation time.” (Anon., 2019) (Anon., 2017) (Anon., 2019)

                In IT organization, normally they provide health benefits and vacations but they are lack of retirement benefits and compensation. This has become one burning reason for employee turnover.

Finally, EVP in the most organization has moved towards the more of an individual value position. “By clustering attributes such as age, income, life stage, family status, career level and certain preferences to create unique groups, or personas, employers can design programs to better target individual needs” (Bravery, et al., 2019) (Anon., 2019)

What do you think about this approach in any organization? Does EVP should focus on more individual needs or should deal with the entire company as a whole? (Bravery, et al., 2019)

References

Anon., 2017. HR Technologies. [Online]
Available at: https://www.hrtechnologist.com/articles/employee-engagement/the-importance-of-employee-value-proposition/
[Accessed 12 04 2019].

Anon., 2019. Gartner. [Online]
Available at: https://www.gartner.com/en/human-resources/insights/employee-engagement-performance/employee-value-proposition
[Accessed 12 04 2019].

Anon., 2019. MSG- Management Study Guide. [Online]
Available at: https://www.managementstudyguide.com/application-of-talent-management.htm
[Accessed 13 04 2019].

Bravery, K. et al., 2019. Mercer. [Online]
Available at: https://www.imercer.com/uploads/common/HTML/LandingPages/AnalyticalHub/july-2018-spotlight-career-strengthening-your-employee-value-proposition.pdf
[Accessed 13 04 2019].