What Are You Selling? Improve Your Results Through a Powerful Employment Value Proposition

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Presentation from the ERE Expo 2010 Fall in Florida, presented by Dan Nielsen.

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What Are You Selling? Improve Your Results Through a Powerful Employment Value Proposition

  1. 1. Developing a High Impact Employment Value Proposition How to Stand Out From the Crowd Presented by: Dan Nielsen Towers Watson Recruiting Segment Leader
  2. 2. Agenda  Defining the Employment Value Proposition (EVP)  10 Steps of Creating and Disseminating a Powerful EVP  Steps 1 – 6: Developing the EVP Messages  Steps 7 – 10: Building and Delivering Your EVP 2
  3. 3. Defining the Employment Value Proposition The sum of everything you invest in your employees — financially and nonfinancially — defines your organization as an employer, and influences who joins, stays and leaves Today, we will focus on Retention Attraction Attraction Engagement 3
  4. 4. Steps 1 – 6: Developing the EVP Messages  Scope the EVP  Research and draft a “straw man”  Gain buy-in from leadership  Define message categories  Debrief participants  Analyze and test towerswatson.com 4 Presentation2
  5. 5. Step 1: Scope the EVP Company Business Unit A Business Unit B Business Unit C • Line of Business #1 • Line of Business #1 • Line of Business #1 • Line of Business #2 • Line of Business #2 • Line of Business #2 • Line of Business #3 • Line of Business #3 • Line of Business #4 • An entire Unit may seek common candidates or offer synergies attractive to all prospects • This EVP should be created at the Business Unit level 5
  6. 6. Company structure may not map directly to your EVPs Company Business Unit A Business Unit B Business Unit C • Line of Business #1 • Line of Business #1 • Line of Business #1 • Line of Business #2 • Line of Business #2 • Line of Business #2 • Line of Business #3 • Line of Business #3 • Line of Business #4 • Some Units have such fragmented candidate populations that it would be awkward to force common messages across the groups • Separate EVPs should be developed 6
  7. 7. Scope your EVP based on what makes sense to your candidate population Company Business Unit A Business Unit B Business Unit C • Line of Business #1 • Line of Business #1 • Line of Business #1 • Line of Business #2 • Line of Business #2 • Line of Business #2 • Line of Business #3 • Line of Business #3 • Line of Business #4 • Within a Business Unit, there may be logical groupings of Lines of Business 7
  8. 8. Step 2: Draft a “straw man” based on research  Use what already exists to create a vision for the project  Business plan  Sales/marketing materials  Intranet/internet research  Industry trends and competitor information  Employee surveys  Exit interviews  Industry awards and rankings  Community involvement, environmental sensitivity  Social aspects of job  Intangibles such as on-site gym, proximity to public transit, shopping or restaurants, etc. 8
  9. 9. Step 3: Build a business case for leadership  An EVP is needed to address changing candidate attitudes * Source: 2010 Towers Watson Global Talent Management and Rewards Survey 9
  10. 10. The data is clear: Today’s messages need to address security and loyalty  76% of the workforce want a secure position above all else  Job changes are at a decade-long low as employees sacrifice career advancement for security  81% are not actively looking for other jobs, even though  48% see no advancement in their current job and,  42% think they have to go elsewhere to advance  Candidates are tough to move  33% want to work for just one company  67% want to work for no more than three companies over their careers 10 Source: Towers Watson 2010 Global Workforce Study
  11. 11. There are many other benefits to rolling out clear EVP messages  Engage and attract desired talent  Define the future state and give interviewers confidence about delivering “aspirational” messages  Recognize talent that matches your culture  Help off-target talent self-select out of the process  Sustain desired candidates through counter-offer  Boost engagement of high-performers through interview team training led by leadership 11
  12. 12. Step 4: Define categories of messages you will address  Make sure you cover your past, present and future  Strong company history can indicate sustainability  Current marketplace position may be quite attractive  Candidates react to a clear plan for the future 12
  13. 13. Seek out the “Active Security” your company provides  Highlight how you equip employees with skills and tools that make them valuable – able to secure their own future Segment the workforce, personalize key elements of the deal Personalization Highlight employees’ Emphasize your opportunity to build The organization’s flexibility, adaptability, skills, plan their New Deal and responsiveness financial future, and live healthy lives — to a relentlessly “active security” vs. Self- Agility changing global “passive security” Reliance business environment 13 Source: Towers Watson 2010 Global Workforce Study  United States
  14. 14. Job security is fundamental, but don’t overlook underlying attraction drivers Attraction Drivers Gen Y Gen X Boomers Career advancement opportunities 1 2 8 Competitive base pay 2 1 1 Learning and development opportunities 3 6  Challenging work 4 3 2 Convenient work location 5 4 3 Organization’s reputation as a good employer 6 7 4 Flexible schedule 7 5 5 Vacation/paid time off 8 10 7 Competitive benefits 9 9  Reasonable workload 10  9 Organization’s financial health  8 6 Competitive retirement benefits   10 Source: Towers Watson 2010 Global Workforce Study — Global 14
  15. 15. Engage leadership to solve your toughest issues  Gain agreement on your primary challenges, which could include:  Unable to rely on compensation to convince people to join  Candidates’ unwillingness to relocate because of housing market  Perception that the competition may be the employer of choice  Candidates’ hesitancy over company’s recent downsizing 15
  16. 16. Step 5: Debrief employees  Ask leadership to identify trusted people for you to debrief  Effective interviewers, managers, and sales people  Recent hires from competitors and outside the industry  Subject matter experts and thought leaders  Longstanding employees  Corporate support partners from marketing, compensation, etc.  Working from an organized list of questions, collect the thoughts of leadership and those they identify  Consider focus groups to debrief people with similar backgrounds 16
  17. 17. Make sure to gather information that gets candidates over each “decision hurdle” Industry Company Unit Job • What makes this a vibrant industry in which a candidate can build a long term career? • Why should a candidate choose our industry over others? • Why will this industry continue to thrive in today’s economy? 17
  18. 18. Ask challenging, realistic questions Industry Company Unit Job • How are we better than our competitors? • What trends are we setting in the industry? • What is our financial strength? • What industry awards or rankings have we earned? • What strengths would our competitors claim for themselves? What weaknesses would they cite about us? 18
  19. 19. Gather information that describes where candidates fit into to the bigger picture Industry Company Unit Job • Do we have recognized thought leaders? • What are we doing to better position ourselves vs. competitors? • What investments in tools, technology, structures, etc. give us an advantage? • How does this unit contribute to the company’s overall mission? 19
  20. 20. Continue to probe for how this job builds active security Industry Company Unit Job • What new skills will this job give that make this person valuable to employers? • How can this job secure a candidate’s future? • Why would a successful candidate leave a secure job for this one? • What can we customize based on the candidate’s skills and interest? 20
  21. 21. Step 6: Test and analyze information “We have the largest market share.” Possible EVP Implications  Business stability/job security  Diversity of challenging projects that help build “active security” 21
  22. 22. Constantly ask yourself: “What does this mean to a candidate?” “We have the best resources.” Possible EVP Implications  Opportunity to learn within a world-class process  Division of labor allows more focus and increased efficiency 22
  23. 23. Even obvious business strengths need to be translated into career advantages “We have strong global presence.” Possible EVP Implications  Opportunity for challenging, international projects  Potential for travel or future permanent transfers 23
  24. 24. Selling points are good … …but differentiators are required!! Your Company The Competition What sets you apart? You support learning They support learning & development and development Your customer base Their customer is world-class base is world-class You’ve got They’ve got great people great people You are global They are global 24
  25. 25. Steps 7 – 10: Building and Conveying Your EVP  Produce a formal EVP for internal use  Create/refresh external messages  Tailor messages to audience  Keep the EVP refreshed 25
  26. 26. STEP 7: Produce a formal EVP for internal use Key messages drive all other communications Recruiter’s Pitch and Positioning Interview of the Offer Talking Topics and Points Responses 26
  27. 27. STEP 8: Create/refresh external messages EVP Drives Consistent Messages to Prospects Careers Site Videos Job Descriptions Cold-Calling Marketing Materials & Scripts University Brochures 27
  28. 28. STEP 9: Tailor messages to audience when dealing with candidates one-on-one Industry Company Unit Job One candidate may Another may be be interested in the comfortable in your job, but unsettled industry, but unsure about the future of how your job differs your industry from theirs 28
  29. 29. STEP 10: Refresh your EVP  Make a revised EVP an annual deliverable for the business  Synchronize updates with logical, cyclical activity, such as:  Staff planning  Business planning  Keep pace with your company – and the competition  Create a folder to track ongoing messages throughout the year  Keep updated on the industry (Google Alerts, follow companies on LinkedIn, etc.) 29
  30. 30. An EVP is worth the hard work  Creating an effective EVP supports your business  It helps your company stand out to the talent you wish to attract  It can position you for success tomorrow 30
  31. 31. Questions? Let’s Connect! Dan Nielsen dan.nielsen@towerswatson.com 314.719.5898 www.linkedin.com/in/dannielsen 31

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