An employee value proposition could be the missing link for boosting your workplace engagement and morale. Engaging your workers takes more than merely increasing compensation. Instead, a holistic approach by human resources can effectively enrich the experience of employees. Professional services firm Towers Watson suggests firms are not optimizing their workforce if they do not look into employee value proposition (EVP). EVP could fill in the gaps between the disengagement of workers and the company’s productivity targets.
Employees who know their employer expectations might establish concrete goals for themselves, especially if they are engaged. However, some companies fail to instill EVP. Failing to do so may reduce productivity for businesses, according to Laura Sejen, global rewards leader at Towers Watson.
“What we found, though, is that low EVP effectiveness companies discuss the deal in terms of the programs they provide and how valuable they are,” Sejen said. “But the best companies go much further. They discuss how they meet their employees’ expectations and, in return, what behaviors they expect employees to exhibit to help them succeed.”
Importance of EVP in boosting workplace productivity
According to Towers Watson, companies that integrate EVP into the workplace are five times more likely to have engaged employees. This fact is likely due to companies investing in their employees’ long-term goals and development, showing them they value their workers. Effective benefits administration that promotes employee health and well-being could be an essential factor in raising employee engagement. Suppose employers indicate a genuine interest in their employees. In that case, it will likely cultivate a sense of pride in working for the company and increase its productivity for the company’s good.
Companies that are more invested in their workers might find staff responds to this action by enhancing their work ethic. In turn, this could benefit firms in the long-run. It sets off a cycle of recruiting top talent who continue to contribute growth for the company. As companies establish a sustainable pace of growth, they could boost their reputations and reinforce its brand, which could help recruit, according to Talent Management Magazine.
Even if economies slow, an engaged workforce can act as the buoy to keep companies profitable during a downturn. However, companies should continue to invest in their employees to maintain high performance, and their workers will return the favor.
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