Vicky O’Neill
HR strategy specialist, Ibec
“The employee value proposition (EVP) is an ecosystem of support, recognition and values that an employer provides to employees to achieve their highest potential at work. It is how a business activates advocacy and achieves employee and customer loyalty,” says Vicky O’Neill HR strategy specialist with employers’ organisation ibec.
It includes the entire benefits and experience package, from pay and pensions through to wellbeing supports, volunteering opportunity, flexible work and leave options, and matters both to entice new hires and retain the people you already have, O’Neill explains.
“There is a rise in the demand for an individualised employee experience. In a tight talent market, a strong EVP is one of the best strategies to win,” says O’Neill.
Employees all have unique personal and professional circumstances, such as different life stages, family responsibilities, career goals and personal values.
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“These differences influence their needs and preferences regarding benefits and workplace experiences. Different job roles and functions may also require tailored benefits and resources. For example, sales positions might benefit from performance-based incentives, whereas creative roles might prioritise flexibility and collaborative tools” O’Neill points out.
“Customising the EVP allows employers to better compete for top talent by addressing specific needs and desires that competitors might overlook. By recognising and accommodating these differences, employers can create a more appealing and effective EVP that attracts, motivates and retains a diverse and engaged workforce.”
This starts at talent acquisition and should flow through the total talent life cycle, as O’Neill explains: “It includes the company values and DNA, such as the approach to corporate social responsibility, wellbeing and inclusion, communication and transparency, and purpose and leadership.
“Ask your high performers and high potentials what matters to them, and springboard from there. By addressing these considerations, employers can create a compelling EVP that not only attracts top talent but also fosters engagement, satisfaction and long-term retention.”
Mark Redmond
Chief People Officer Three Ireland & Three UK
When it comes to EVPs, one size does not fit all, in the view of Mark Redmond, head of people at mobile communications company Three Ireland.
“The employee value proposition is about what is the full package of benefits that we as an organisation can give to the people who come to work with us,” says Redmond. “But not all benefits packages should be the same because people have different needs for different benefits, depending on their individual circumstances and their life stages, and these can vary over time.”
In Three Ireland, all staff enjoy standard benefits such as pension, life assurance, income protection and annual leave. But the company also provides a flexible benefit scheme whereby, typically, 5 per cent of a person’s salary can be used for the things they value most. It can be used, for example, for extra health insurance for their family, gym memberships, enhanced pension contributions, or dental cover.
“It’s about what they need at that particular time in their lives, based on their personal circumstances,” Redmond explains.
But there is more to an EVP than benefits. The organisation’s culture and values, and where it stands in terms of diversity, sustainability and wellbeing, all inform it too.
“There are a whole range of different supports that would be outside of the employment contract but still very much part of that value proposition,” says Redmond.
A good EVP is dynamic, with improvements informed by employee feedback, he explains: “It has to constantly evolve because people’s needs change and evolve and I think that if you demonstrate to people that you are listening, that you care, it can only help with their sense of engagement.
“And if people feel valued they are going to give their best at work, so it’s very much a win-win.”
Niamh Graham
Senior Vice-president of global Human Experience, Workhuman
Workhuman is an Irish-headquartered global software company whose technology enhances workplace culture and employee experience. No surprise, then, to find that much of its success is attributable to using its own platform.
“Our core values are respect, innovation, development and imagination‚” says Niamh Graham, Workhaman vice-president, global HR. “We have grown a successful company as a result of them, so they get recognition in the workplace and our people get rewarded for exhibiting those behaviours.”
Recognition comes for all sorts of milestones in the lives of staff, from years of service to personal achievements and life events, as well as for a job well done. It comes via peer to peer as well as top down and can be anything from a simple videoed thank-you message to points which can be converted to cash and spent on goodies.
“Our customers, who are typically global companies employing thousands of people, tell us it helps them in relation to retention, employee satisfaction and productivity,” says Graham.
With staff turnover a significant cost to any business, Workhuman is helping to boost the employee value proposition and thereby retention. When it comes to the company’s own employee value proposition, “we talk about being game changers and change makers,” Graham explains. That means ensuring its people feel recognised, celebrated and developed.
It routinely elevates standard benefits and offers not just statutory leave but additional options for sabbatical, volunteering and medical leave too. All of this is enhanced by the use of its own platform to mark meaningful moments in the life of its staff. Given the hybrid world in which we now work, such moments of social recognition are “more important than ever in terms of building community”, Graham points out.
Gavin Lonergan
Head of communications and customer relations, Health and Safety Authority
Employee safety, health and welfare form a crucial part of the employee value proposition as they directly impact an employee’s wellbeing and overall job satisfaction.
“A safe and healthy work environment shows that an employer values its employees, not just for their work output, but also for their general health and welfare. This can significantly increase an employee’s sense of security and belonging in the workplace, leading to increased loyalty and commitment,” says the Health and Safety Authority’s head of communications and customer relations, Gavin Lonergan.
“In the context of the digital age, occupational health and safety extends beyond the traditional physical aspects to include factors like ergonomics, psychosocial welfare, isolation due to fewer physical interactions and blurring of the boundaries between work and private life. Employers who proactively address these issues demonstrate that they understand and care about the modern challenges their employees face.”
A strong health and safety culture can enhance an organisation’s reputation, making it more attractive to potential employees, Lonergan points out: “It signals that the organisation takes its responsibilities seriously and is committed to maintaining a supportive and respectful environment.”
The European Healthy Workplaces Good Practice Awards recognise organisations that effectively manage these risks associated with digitalisation, encouraging others to prioritise health and safety in the digital age.
“By recognising and rewarding organisations that are taking innovative and effective approaches to managing health and safety, the awards not only validate the efforts of these organisations but also set them up as role models for others to emulate,” says Lonergan.
For more information or to enter the Good Practice Awards please visit healthy-workplaces.osha.europa.eu/en
Laura-Jane Hennessy
Global DEI and HR project manager, PepsiCo
What employees value is changing. “We know by looking both internally and externally that there are several emerging trends impacting talent expectations. Not only do we need a competitive benefits package to attract new talent but we also need to ensure we have supports in place through different life stages as associates build their careers with us,” says Laura-Jane Hennessy, global diversity, equity and inclusion and human resources project manager at PepsiCo Ireland.
“To call out a few, family dynamics are changing; there is a greater desire for flexibility, including flexibility around hours worked and work locations; increased focus on mental health and wellbeing; planning for the future; and an increased desire to work for a purpose-led company.”
As a result, it is important for companies to have a diverse benefit offering. “In PepsiCo Ireland, on top of the traditional benefit offerings, we have various policies to support our colleagues’ work/life balance and life stage,” says Hennessy.
“Some of these include carer’s leave, volunteer leave and surrogacy leave. It is also important to have work-life supports available, including mental health first aider training, an employee assistance programme, stress management supports and flexible work hours. We also provide educational sessions around financial wellbeing and tips for leading a healthy lifestyle.”
Once you have developed a great EVP, flaunt it, Hennessy advises: “Having a robust benefit plan full of options is important. However, if employees do not know what benefits are offered or do not understand the features of their benefit plan, an employer is no better off than if they offer limited choices.
“Communication and education are necessary to ensure employees are getting the most out of their benefits package.”
