Employees’ needs are evolving, and they expect employers to cater for these needs in modern ways. Some employers are skilfully moving with the market and responding in creative ways as they reinvent their Employee Value Proposition (EVP) to attract and retain quality talent. 

So, what are the most important factors when thinking about EVP today, and what can businesses do to make sure theirs is competitive? We held a Roundtable in Melbourne to discuss exactly that. 

Here’s what Australian businesses are experiencing and doing to create or reinvent a competitive EVP. 

In this article: 

• Understanding what makes a good EVP
• The shifting power dynamic
• Work-from-home is now an expectation
• Flexibility and leave entitlements
• Diversity, Equity, Inclusion and Belonging (DEIB)
• Connecting employee experience with customer experience
• Using eNPS to lead EVP growth

Understanding what makes a good EVP

A good EVP is inclusive, personalised, and can evolve with employees’ needs. 

For example, one well-regarded beauty brand offers a sizeable discount on their products. This is well-regarded by a segment of their workforce, but for others, it’s not enough icing on the cake. For their tech workforce, there’s demand for education and career growth. This can look like more than just an allowance – think five dedicated learning days or cross-department project experience. And for others, it’s everyday conveniences like an onsite laundry service, breakfast and all-you-can-slurp coffee that make the trip into the office worthwhile. 

Which is why for this brand, their EVP strategy has been focused on listening to and catering for the needs of all – and exploring the different ways and formats to deliver an inclusive offer. 

Takeaway: Employees want to know that their opinions and needs matter, that they’ve been heard. If you engage your people to provide input into your EVP, make sure you act on it. This helps drive brand loyalty.

The shifting power dynamic 

The candidate’s market has seen the power dynamic shift – employees are emboldened to demand more from their employers with full confidence they can find other opportunities elsewhere. For some, the need for reciprocation has come into play (it’s like a bribe, but subtle!). 

In one example, a senior employee was given a private office to work from, which led the employee to feel obligated to show up onsite and work from the office. 

In another example, one employer learned that the easiest way to get the whole team into the office was by putting on a full day of learning and development. 

In the first example, it is life conveniences being catered to for the onsite workers, with laundry, meals, and free manicures making the commute worthwhile. 

Takeaway: Employers who are intent on bringing their teams into the office might consider using the power of reciprocity. What do your employees most want and value, and how can you incorporate this into the EVP for impact? 

Work-from-home is now an expectation 

Pre-pandemic, working from home (WFH) arrangements were rare, and mostly reserved for parents. In today’s workplace, there are more people working from home than in the office, despite attempts by some employers to mandate returns. 

What some Australian businesses have noticed is a shift in mindset – for many employees, WFH is now less of an EVP benefit and more of an expectation; a hygienic factor, much like up-to-date technology, systems, and office equipment.

But there’s still an opportunity to use WFH in the EVP, and that may lie in the support mechanisms that employers put in place to engage teams and foster camaraderie. For younger generations especially, they may be missing out on learning by seeing, by osmosis, and the development of beloved work besties – relationships forged over coffee trips, watercooler gossip, and Friday knock offs. 

Takeaway: It’s been proven that employees are more productive working from home. Given that WFH is not a threat to business outcomes and is now an expectation for many workers, organisations could instead focus efforts on tech and systems that support the learning and culture that’s being ‘lost.’

Flexibility and leave ​​entitlements 

Our Talenza 2022 Candidate Motivators Report shows us just how nuanced individual needs and motivators have become. A few simple and effective ways to personalise your employee offer *and* create a more inclusive workplace is by providing flexibility around work hours and leave. For example: 

• Flexible holiday leave, so that people who don’t celebrate Christmas and Easter can trade their annual leave days for more meaningful cultural events. 
• Increased flexibility and generosity in paid parental leave, so you can attract and retain would-be-mothers and encourage more fathers to share the load. 
• Normalising part-time work, so that your opportunities are enticing for workforce segments that, for whatever reason, are unable to manage the standard five-day 9-5 working week. 

Diversity, Equity, Inclusion and Belonging (DEIB) 

DEIB covers a range of identity characteristics, like race, gender, sexual orientation, ability, age and more. People who all think, feel, want, and need different things from employment. In what’s perceived to be a talent-short market, can employers be doing more to tap into, cater to, and welcome these underrepresented groups? 

Some Australian businesses are invested in creating workplaces that are more representative of their communities, by introducing specific programs, initiatives, and adjustments to their recruitment process. A few examples: 

• Coles introduced ‘quiet hours’ for its customers who have neurodivergent children (or who may be neurodivergent, themselves). They’ve also signed up to the federal government’s pilot program, RecruitAble, which aims to create job opportunities for disabled people. 
• NAB recently expanded its Neurodiverse program, which aims to create an environment where autistic people are genuinely recognised and supported to achieve their best in a rewarding and sustainable IT career. They also provide autism awareness training for leaders and mentors. 
• BHP offers a comprehensive return to work program to support experienced technology professionals who’ve been on an extended career break or absence from work, offering flexible work arrangements to meet these people where they are. 

Takeaway: Consider how your EVP offer and recruitment process could be modified to meet the needs of all people, including whether some identifying data needs to be collected on the application form. Consider DEIB and awareness training for recruitment teams and hiring managers.

Connecting employee experience with customer ​experience  

Businesses spend so much time and money creating high-value benefits and bonuses for their customers, yet how much of that effort and thoughtfulness is given to employees? There’s a clear connection between employee experience and customer experience, and the savvy organisations are tuning in. For one business, their Talent Acquisition team now sits within an employee experience team, ensuring the very best impression from the beginning.

Takeaway: Connecting employee experience and customer experience can boost morale, engagement, and retention. You could refer to Zappos’ famed philosophy to carve out an EVP with a competitive experience edge.

Using eNPS to lead EVP ​growth 

Employee surveys help track employee satisfaction, but their value shouldn’t end there. Notable variances in sentiment can be a sign that change is needed. The businesses who look at these surveys as a means for improvement can use the information as a canary in the goldmine – the catalyst for further outreach to explore changing needs before it’s too late.

But when employees head into these surveys with a negative mindset, it’s often because they don’t understand how their feedback is being used (likely because they’ve never seen any following action!). 

To combat this, some Australian businesses are enhancing their education around eNPS, and what it really means for the people taking the survey and how their feedback will be used. 

Takeaway: Make the most of your surveys by showing employees that they’re being heard. Transparently communicate the purpose and outcomes. Use their feedback to modify the EVP so it remains relevant to their needs. 

Creating and reinventing your EVP is a balancing act 

Employees want more than the traditional one-size-fits-all offers that barely put a dent in their real-life needs. So, while free breakfasts, manicures and corner offices might entice some people into the office, it’s just one part of the EVP equation. Personalisation is a trend we’ll see grow into an expectation. 

Despite some industries struggling, the talent short market isn’t going away anytime soon. How you compensate your people, more than just financially, is key to helping you create an EVP that can compete for and retain talent.