Blog
New Year, New EVP: Why It’s Time to Refresh Your Employee Value Proposition
Posted on: Friday January 10, 2025
And we’re back! January —the month when gym memberships surge, diets are resolutely (if temporarily) adopted, and employees, buoyed by the "new year, new me" mantra, clandestinely update their CVs. It's the annual exodus of talent, as predictable as the Boxing Day sales, leaving employers to wonder: "Was it something we said? Or didn't say?"
Enter the Employee Value Proposition (EVP), the corporate equivalent of a dating profile. If yours still boasts about "competitive salaries" and "dynamic work environments," it's time for a makeover. After all, nothing says "we're stuck in 2010" like touting free coffee as a perk.
In today's job market, an industry-leading EVP is as essential as Wi-Fi at a tech conference. It's not just about attracting fresh talent; it's about convincing your current employees that the grass isn't greener elsewhere. Spoiler: if your EVP is outdated, it probably is.
Consider this: recent research indicates that 27% of UK workers plan to change jobs within the next six months, up from 24% the previous year. Additionally, in the six months leading up to January 2024, 19% of employees had already switched jobs, compared to 12% in January 2021. The national average annual turnover rate in the UK stands at approximately 16%.
So, how does one craft an EVP that doesn't induce eye-rolls? Start by acknowledging that employees are humans, not cogs in a productivity machine. Radical, I know. They seek purpose, growth, and—dare I say it—work-life balance. Offering flexible schedules, opportunities for advancement, and a commitment to social responsibility might just make your EVP less yawn-inducing.
But beware the pitfalls of corporate buzzwords. Describing your culture as "innovative" and "fast-paced" is as enlightening as saying water is wet. Instead, provide concrete examples: Do you offer sabbaticals? Support volunteer work? Have a pet-friendly office? Details matter.
Remember, an EVP isn't a static declaration etched into the company handbook; it's a living, breathing promise that should evolve with the times. Regular audits are essential. If your EVP hasn't changed since Boris was PM, it's overdue for a refresh.
As employees embark on their January job safari, ensure your EVP is the enticing oasis they seek, not a mirage of empty promises. After all, in the battle for talent, those with the most compelling propositions win. And if all else fails, consider adding a puppy room. Who could possibly resist that?
At Personal Group, we specialise in providing employee benefits to organisations over 500 employees. To find out what Hapi could do for you, please contact us here and one of our friendly experts will be in touch.
https://philipchantry.actioncoach.co.uk/2024/08/14/what-is-a-good-staff-turnover-rate/
Engaged Employees… Not the ones with rings on their fingers!
A celebration of love, overpriced flowers, and subtle disappointment when your partner buys the same card as last year. But what about love in the workplace? Not the HR-incident kind, but the kind we should all strive for: employee engagement. That elusive spark that makes employees want to give their all, not because they have to, but because they want to.
Posted on: 14 February 2025 by Lisa Hack, Head of Product
Are you Tackling the Causes Behind National Sickie Day?
The first Monday of February, often dubbed “National Sickie Day”, has gained notoriety for being the day when employee absences peak. For many organisations, it’s a wake-up call. While it might sound like a light-hearted quip, the reality is that a spike in absences can signal deeper issues within your company.
Posted on: 31 January 2025 by Zach Berwick, New Business Development Director
Salary Sacrifice Schemes: What Are They, and Why Should You Care?
Let’s face it, when you hear “salary sacrifice,” it doesn’t exactly scream “perk of the century,” does it? The term itself sounds like the HR equivalent of eating your greens – good for you, but nobody’s skipping to payroll in excitement. But here’s the twist: salary sacrifice schemes are actually a win-win for both employers and employees, and I’m here to explain why you should take them seriously – before your competitors do.
Posted on: 24 January 2025 by Lisa Hack, Head of Product
