Attraction, retention and engagement. EVP and employment brand

Transcription

1 Lecture 5 Attraction, retention and engagement EVP and employment brand Agenda Attraction and Retention Engagement EVP and employment brand 1

2 Attaction and retention For reflection... What encourages workers to apply to a position? Why people leave their organization? 4 2

3 Attraction and retention Source: Towers Watson. Global Workforce Study, What about engagement? 6 3

4 Engagement Belief in company goals and objectives. Emotional connection (pride, would recommend employer) Willingness to give extra effort to support success 7 Engagement drivers 8 Source: Towers Watson. Global Workforce Study,

5 Why is engagement important? Operating Margin 9 Source: Towers Watson. Global Workforce Study, Why engagement is related to financial performance? Engaged employees (vs. disengaged): Have lower presenteeism (lost productivity at work) Have less absenteeism Are less likely to leave their employer. 10 5

6 Attraction and retention vs. Engagement In contrast to many of the more reward-oriented elements that affect attraction and retention, the drivers of sustainable engagement focus almost entirely on the culture and the relational aspects of the work experience. 11 EVP and employment brand 6

7 Employment brand Employment brand The package of functional, economic and psychological benefits associated with the employing company (by actual and potential employees). 14 7

8 Employment branding Employment branding is concerned with building an image that the company, above all others, is a great place to work. 15 Employment vs. product / corporate brand Product / corporate brand Image and prestige Product features Innovation and design Quality and performance Value and price 16 8

9 Employment vs. product / corporate brand Employment brand Work characteristics Product / company brand strenghts Company culture and environment Work-life balance Compensation and benefits 17 Job offer dimensions Work characteristics Product/Company Brand Strength Compensation and Benefits Company culture and environment Work-life balance Manager Quality Recognition Brand reputation Salary (Base Pay) External Equity (Pay to Market) Senior Team Quality Reputation Business Travel Location Empowerment Internal Equity Technology Level Work Hours Work Challenge Internal Mobility Appeal of company s product or service Pay for performance Benefits Risk Taking Environment Company Size Flextime Telecommuting 9

10 In summary The offers a firm makes to the labor market both establish and perpetuate the firm s employment brand 19 Employment value proposition 10

11 Employment value proposition Characteristics of the organization that potential employees value when choosing a company to work for. The employment brand is built upon the specific job offers a firm provides to its current and potential employees. Has to be valuable to actual and potential employees. It is what holds employees to the firm. 21 EVP Job rewards Attraction factors Characteristics of the organization Development opportunities Career opportunities Respect Retention factors Quality of management and leadership Work environment / relationships Source: Corporate Leadership Council,

12 Advantages of building an EVP To attract and retain high performance employees. To promote motivation and engagement of the workforce. To give focus to the HR strategy. To save on R&S costs. 23 In summary... EVP Is the employment offer. Is the real job experience. Employment Brand Is the perception of the EVP. Is the message being sent. Is a daily experience. Is tangible. Relates to reputation. Is intangible

13 In summary 25 Creating a value proposition 13

14 Positioning strategies should emphasize benefits Company Positioning Positions the offer around a specific attribute or feature of the company - such as the company s culture, location or business Product Brand Positioning Benefit Positioning Work Positioning Aligns the offer closely with the firm s product and the product s brand - essentially using the product brand as an employment brand Positions the offer to emphasize the benefit or benefits provided to current and potential employees - such as high pay, professional development or job responsibility Presents the company as the best place to do a particular type of work or gain specific experience - such as Java programming or technical sales Skill Positioning Attaches the offer to a target employee or skill group - for example being employer of choice for electrical engineers or research scientists 27 Relationship/ Value Positioning Positions offer to provide a certain amount of value to employees essentially the company offers X and asks Y in return Example 1 Case L Oréal 14

15 A new focus to R&S Growth strategy Focus on Diversity War for talent 29 Challenge: Conquering L Oréal Professionnal New Costumers Universidade Anhembi Morumbi He is the first person in his family to conquer an University diploma Challenge: Development of Maybelline in the Drug Channel Univercidade Sheis thefirstpersonin herneighborhood to reach a professional position in a multinational company SP Plant Challenge: Production Flexibility Unesp She has graduated in Medical Physics Challenge: Relaunching R&G in the Drugstore Channel USP Was born and lived in the periphery of SP 15

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17 Example 2 Hypothetical Commercial Bank Source: Corporate Leadership Council, Hypothetical Commercial Bank Multiple employment needs Bank tellers IT Professionals Investment bankers Multiple employment brands may be needed

18 Exercise Develop na EVP for each segment. Bank tellers IT Professionals Investment bankers 35 18

19 Assignment (for next class) 38 19

20 Assignment Topic: training & development Search for articles / internet content on the following question. How could organizations measure the value of training and development initiatives? 39 20