Reinventing EVP for the post-Covid offices
The pandemic has reshaped the fundamentals of Employee Value Proposition in an organisation. The need for an ‘employee-first culture' in the organisation has increased the importance of the EVP factor and transposed the definition of EVP for organisations. Due to the pandemic and the newly introduced remote working culture, employers have embraced more compassion in the workplace, and have adapted to the new working culture. Today the priorities of the employees have changed. With the changing expectation, the EVP of the brand has also needed a change. The EVP is the secret to ensuring relevance with the workforce. In fact, 83% of employers felt their EVP had a significant influence on their ability to hire talent.
The Covid-19 pandemic has had a tremendous impact on workplace culture and the corporation’s perspective of a virtual workplace has changed significantly. Building a company culture to represent in the EVP comes from business leaders, team members and the business values. The people develop the ideal company culture from vision to reality. To develop a strong EVP, it is important to consider the external factors affecting the employee morale and the overall change in business dynamics post-pandemic. Post Pandemic we see a big amount of change in the mindset of Management about flexibility of workplace. Finding the good elements of the sudden cultural change, and taking pride in them, can reinforce positive shifts in behaviour in the long term.
An employee-centric culture is an environment where ideas, creativity, free-flowing communication, and innovation are encouraged. Employees give more importance to team and manager behaviour post-pandemic, and this is required to build the EVP of the organisation. Employees now have different expectations from their working environment. Another important aspect of an employee-centric organisation is having empathy in the workplace which is valued greatly. It is a powerful message that corporations can direct to their employees. Employees also show a preference for a secure work environment with job security. We have been made aware through the pandemic of the importance and value of both physical and mental well-being. Employees have expectations of an encouraging work-life balance and insurance benefits provided by the corporation. A collaborative environment where employees feel heard, are acknowledged, and promote communication will increase employee morale and ensure EVP building.
Rising importance of employee recognition
To keep the focus on employee value proposition, creating a spotlight for employees for their great work and ensuring a personalised message goes a long way. A tangible felicitation by senior management will make the employee associate the award with the workplace and increase their loyalty. Employee recognition programs are great for making employees feel valued in their day-to-day routines, but also offers them a chance to further push their potential. It allows for tangible rewards that cultivate a better workforce than simple cash rewards may offer.
Diversity & inclusion in the workplace
Creating a more diverse workforce by increasing the number of underrepresented communities in the organisation, certainly helps in building the EVP. With the changing times and mindsets, the definition of an ideal workplace has changed. Today an ideal workplace is where talent belonging to varied economic backgrounds, gender identities, sexual orientations, and skills, are given equal opportunity. A fair and diverse workplace has a direct impact on the profitability and likeability of an organization. Infact companies with a higher diversity quotient have 70% more chances of capturing new markets. Embracing diversity and providing equality goes a long way in promoting a work culture which values talent beyond stereotypes and helps reach their potential by contributing their best beyond any prejudice. Moreover, an inclusive workplace fosters better productivity and efficiency.
Post-pandemic need for change in the EVP model
The changing mindsets of employees globally today have a major role to play for the EVP in offices in the new normal. It is important to reshape and redefine the EVP of organisations as the global corporate environment sees a major shift post-pandemic. To attract and retain the smart workforce of today, providing high tech features, including Artificial Intelligence (AI), providing flexibility, employee recognition, workplace empathy and inclusion is what will ensure an efficient, productive, and loyal workforce which will thereby improve the EVP of organisations today.