“The way your employees feel is the way your customers will feel. And if your employees don’t feel valued, neither will your customers.” – Sybil F. Stershic
In part one of this blog, we unmasked how an Employer Value Proposition (EVP) helps you attract, retain, motivate and engage employees.
Now, we’re going to take your EVP to the next level. Let’s take a look at how you can understand your targets, culture and objectives at the individual employee level.
Combined with EVPs, you’ll learn how IVPs (Individual Value Propositions) are the magic ingredient to a happier and more productive workforce.
Here’s what we’ll cover:
What an IVP is
The importance of your IVP
How to develop IVPs for every team
The benefits IVPs unlock
The Lowdown on IVP
Firstly, remember EVPs? Your EVPs are a by-product of your employer brand strategy and communication plan.
They focus on delivering value to employees through compensation, benefits, progression opportunities and better working environments to increase overall happiness and productivity.
Having an EVP in place also enables you to create positive hype surrounding your company making it an irresistible environment for top-dog candidates. You gain the upper hand in a competitive market.
So where do IVPs fit into the picture? Rather than just focusing on the individual as an employee, an IVP digs deeper into the values and personal goals of the individual.
Used in conjunction with your EVPs, IVPs help you build powerful relationships with your employees, helping them develop their careers based on their individual hopes and wishes.
It’s the next step in ensuring every employee feels valued. This empowers them to work autonomously and with greater determination leading to a more effective workforce.
Not all Employees Are The Same
Enhancing the symbiotic relationship between employer and employee starts with understanding the difference between your teams.
For example, what is of ‘value’ to your sales team might be drastically different from your accounts team.
Let’s say your accountants value training on the latest software to help them deliver a better service.
Whereas your sales team are focussed on surpassing their targets and value coaching that specifically helps them do this.
Can you see how IVPs can make your offering more effective?
To help each employee feel seen, it’s critical that your IVPs match the individual they’ve been created for. Let’s take a look at how this is achieved.
Defining Your IVPs
To define your IVPs, you need to understand your employees on an intimate level. That doesn’t mean knowing what their favourite chocolate bar is. It’s understanding:
What do they value?
What are their targets?
What causes them stress or anxiety?
What motivates them?
What further training do they need?
Creating IVPs should be a collaborative effort between MDs, managers and the staff they are responsible for. Your role is to equip managers with the tools they need to gather information for IVP creation.
Collective use of the following methods will give you the best results:
A self-awareness assessment: staff gain the opportunity to think about how they view themselves. This helps them communicate their values, strengths and weaknesses to their managers.
Employee engagement surveys: you give employees a voice and by analysing their answers you understand their unique opinions surrounding work. Stick to short questions so it doesn’t feel like a huge task and conduct shorter, temperature-gauging surveys on a monthly basis to keep up-to-date.
Performance reviews: managers learn about their team members on a personal level. Encourage them to focus on positive feedback and lead a discussion around job progression to make this a gratifying experience for the employee.
Team meetings: staff share thoughts and feelings about their work, what can be improved and what they enjoy. Involve managers in these meetings so they can connect with staff and report back.
Did you know that 79% of UK workers believe their manager doesn’t care about their happiness?
Turn this view on its head by engaging with employees and discussing findings. It shows that you’re listening and that you do care, strengthening your relationship and reducing staff turnover.
The Benefits of IVPs
In a study by One4all, 39% of workers said they work harder if they are happy in their current role. Your employees’ IVPs can contribute massively to worker satisfaction and you gain high productivity levels as a result. How?
Recognising what employees value on a personal level gives you the power to motivate them:
“Recognition is the number one thing employees say their manager could give them to inspire them to produce great work.” – O.C.Tanner
A better work-life balance, friendship amongst colleagues, a pay rise or training are just a few examples of what your staff may value.
A Confidence Boost
Helping employees understand their core strengths builds their confidence and, by result, their happiness. Also, armed with this information your managers can help staff harness their talents to add value to the business.
Effective Solutions to Problems
When you can see clearly what’s causing your employees stress, where they are struggling and factors impacting their happiness, you can apply long-term strategies to battle these productivity sappers.
Finally, identifying opportunities for training not only increases motivation but upskills your employees. They receive the tools and support needed to progress and your business flourishes as a result.
A Worthy Endeavor
The journey to create IVPs will help you discover outstanding skills, talents and personalities so you can assist in maximising your staff’s potential.
You also place employee happiness at the forefront of your business, making your people feel appreciated.
The upshot for your company? With happier, motivated and highly-skilled staff, you’ll catapult productivity and customer service to the highest of standards. You’ll also amplify your exceptional working environment, turning the business into a magnet for new talent.
If you missed part one where we look at discuss the fundamental principles of an EVP.
To learn more about working with Adam, contact us today by calling 0161 359 3789 or emailing firstname.lastname@example.org