This document discusses using benefits as a differentiator for attracting and retaining talent. It notes that benefits supplement cash compensation and protect employees from financial risks. Benefits can attract and retain talent by branding the organization internally and externally and building a loyal workforce. However, benefits must be carefully designed and targeted to have high perceived value by employees in order to be an effective differentiator, as one size does not fit all. The document provides examples of benefits the author found impressive and differentiating over his career.
Employee Value Proposition. How and why your EVP plays a critical role in you...N. Robert Johnson, APR
Companies with a clear and differentiated employee value proposition outperform their competitors. In this 30+3 Webinar, we take a quick look at ways to develop a clear and differentiated EVP.
Building an EVP from scratch, in-house, super fast, for free, based on real d...LinkedIn Talent Solutions
Andrew Levy, Uber
Researching and defining an Employer Value Proposition (EVP) is one of the most important undertakings an organization can do. After all, EVP is how your employees feel about work and how candidates evaluate you as a potential employer. When done right, a good EVP helps you effectively, efficiently recruit and retain the best talent for your specific culture. Without EVP, your recruiters and employees may not be telling a consistent, truthful story about work.
For most organizations, EVP is a terrifying task -- it requires a significant investment of time and money -- often paid to a consulting firm. I'm here to tell you a different story of constructing an EVP. At Uber, we turned this process on it's head and decided to build EVP quickly and lightly, for free, in house, using tons of data points. Here's how we did it...
Session highlights:
-You and your recruitment team are likely telling/selling the wrong story to candidates about your company without even knowing it. Years of reporting structures, cascading goals, and executive speeches have conditioned us to repeat messaging form the top even if it doesn't match the reality in the ranks.
-Brand definition work does not require monetary investment by the part of HR, recruiting, or brand marketing. An EVP can be researched, defined, and disseminated using completely free tools.
-The success of your EVP project can be measured out in the marketplace with candidates and internally with your employees. Doing the work to understand EVP has much broader implications outside of recruiting and can help illuminate the most impactful HR programming your organization should tackle.
Catch the best of Talent Connect: http://bit.ly/2e5ojNe
L'Oreal Employer Branding and Employee Value Proposition (EVP)Link Humans
L'Oreal's new EVP launched in 2012 after a big listening exercise internally - based on 3 pillars: A thrilling experience, an environment that will inspire you & a school of excellence. Note: This is not Link Humans work, all L'Oréal - thanks to Dennis de Munck for this information.
Employee Value Proposition in Corporate Human ResourcesSarah Brennan
Employee Value Proposition (EVP) is beneficial in companies of all stages of maturity, but learning how to develop one can be a complex and confusing for even the most advanced organizations. This slideshare will walk you through the steps of developing an EVP that meets the needs of your corporate culture.
Content created and presented by Sarah White & Associates, LLC a Human Capital Market Strategy and Advisory firm. We provide best practices and market education to corporate Human Resource teams around talent and integration of technology technology into employee lifecycle. We also partners with vendors to improve their offerings to best meet the needs of practitioners.
Learn more or see full speaking schedule at www.SarahWhiteLLC.com
This event was sponsored by Achievers employee recognition software. Learn more about them at www.Achievers.com
Employee Value Proposition. How and why your EVP plays a critical role in you...N. Robert Johnson, APR
Companies with a clear and differentiated employee value proposition outperform their competitors. In this 30+3 Webinar, we take a quick look at ways to develop a clear and differentiated EVP.
Building an EVP from scratch, in-house, super fast, for free, based on real d...LinkedIn Talent Solutions
Andrew Levy, Uber
Researching and defining an Employer Value Proposition (EVP) is one of the most important undertakings an organization can do. After all, EVP is how your employees feel about work and how candidates evaluate you as a potential employer. When done right, a good EVP helps you effectively, efficiently recruit and retain the best talent for your specific culture. Without EVP, your recruiters and employees may not be telling a consistent, truthful story about work.
For most organizations, EVP is a terrifying task -- it requires a significant investment of time and money -- often paid to a consulting firm. I'm here to tell you a different story of constructing an EVP. At Uber, we turned this process on it's head and decided to build EVP quickly and lightly, for free, in house, using tons of data points. Here's how we did it...
Session highlights:
-You and your recruitment team are likely telling/selling the wrong story to candidates about your company without even knowing it. Years of reporting structures, cascading goals, and executive speeches have conditioned us to repeat messaging form the top even if it doesn't match the reality in the ranks.
-Brand definition work does not require monetary investment by the part of HR, recruiting, or brand marketing. An EVP can be researched, defined, and disseminated using completely free tools.
-The success of your EVP project can be measured out in the marketplace with candidates and internally with your employees. Doing the work to understand EVP has much broader implications outside of recruiting and can help illuminate the most impactful HR programming your organization should tackle.
Catch the best of Talent Connect: http://bit.ly/2e5ojNe
L'Oreal Employer Branding and Employee Value Proposition (EVP)Link Humans
L'Oreal's new EVP launched in 2012 after a big listening exercise internally - based on 3 pillars: A thrilling experience, an environment that will inspire you & a school of excellence. Note: This is not Link Humans work, all L'Oréal - thanks to Dennis de Munck for this information.
Employee Value Proposition in Corporate Human ResourcesSarah Brennan
Employee Value Proposition (EVP) is beneficial in companies of all stages of maturity, but learning how to develop one can be a complex and confusing for even the most advanced organizations. This slideshare will walk you through the steps of developing an EVP that meets the needs of your corporate culture.
Content created and presented by Sarah White & Associates, LLC a Human Capital Market Strategy and Advisory firm. We provide best practices and market education to corporate Human Resource teams around talent and integration of technology technology into employee lifecycle. We also partners with vendors to improve their offerings to best meet the needs of practitioners.
Learn more or see full speaking schedule at www.SarahWhiteLLC.com
This event was sponsored by Achievers employee recognition software. Learn more about them at www.Achievers.com
Small business owners will learn about the options available to them when considering a benefits package for themselves and their employees. They will also learn to assess the benefits of having a solid benefit package and options for structuring the plan to minimize the overall expense.
Presentation by Dr TV Rao (Founder National President - National HRD Network and Chairman - TV Rao Learning System) on 'HR Managers Who make a Difference' on 8th August 2014.
Importance of Effective Communication during Annual Performance & Rewards CycleNational HRD Network
73rd NHRDN Webinar on Importance of Effective Communication during Annual Performance & Rewards Cycle by Ms Leena Sahijwani, (Director – Rewards & South Asia Leader- Women’s Network, GE South Asia) on 29th May 2014
1. Using Benefits as a
Differentiator
NHRDN SUMMIT
Ravi C Dasgupta
Vice President - Group HR
Biocon Limited
February 15, 2013
2. Benefits – An Element of Total Rewards
Benefits is used by employers to supplement cash compensation. Benefits
programs are designed to protect the employee and his/her family from
financial risks.
Attract and Retain Talent
Attract
Branding– Internal &
Retain External
Build Loyal Workforce
Great Differential Factor in times
of Budget Constraints
3. Employment Value Proposition (EVP)
ATTRIBUTES THAT DETERMINE EVP
• Base Salary
• Incentives Compen
• Cash rewards -sation
• Brand
• Health
• Culture
• Retirement Organiz-
Benefits • Environment
• Paid Time Off ation • Growth
• Perquisites
EVP • Belongingness
• Advancement • Variety
• Learning & Work • Challenge
Development Career • Meaningfulness
Content
• Meaningfulness • Satisfaction
• Employment Security
5. The Problem with Benefits
Perceived value of benefits differ based on employee age, income
bracket, & family circumstances.
One size almost never fits all.
Once introduced, they are hard to remove.
High cost but undervalued benefits can sometimes derail hiring efforts.
Benefit costs can spiral out of control and endanger the health of the
company.
This makes many companies prefer offering cash to benefits.
5
6. Some Benefits I Enjoyed !
Company leased housing • From yrs 4 to 15 of my career
Company provided car • From yrs 8 to 23 of my career
Housing loan interest subsidy • Allergan
Family Holiday plan • SmithKline Beecham & Biocon
Flexi Allowance/ Car Lease plan • Biocon
Flexible work timings • Biocon
Fully furnished company flat • Goodlass Nerolac
Weekends & holidays excluded from EL • Biocon, Allergan, SB
Children’s Education • Biocon
Annual Team outing • Biocon
6
7. Some Benefits I Rarely/Never Used
Medical Insurance • Used only when my 2 kids were born
• Goodlass Nerolac, Crompton &
Relocation Benefits
Greaves, SB
Gym • Biocon
Sick Leave • All the companies I worked in
Accident Insurance • All the companies I worked in
Crèche • Biocon
House Deposit advance • Biocon
Leave encashment (except at
• All the companies I worked in
exit)
Higher Education Support • Biocon
7
8. When can Benefits be a Differentiator?
High perceived value to employees.
Reflects company values such as concern for people.
Being the only company (or at least one in few) that offer it.
Significant enough to attract or retain.
8
9. Some Differentiator Benefits that impressed
me during my career
Employee Cooperative Credit
• Crompton Greaves
Society
Fully Maintained Company Car
• Smithkline Beecham
with 250 lts. of petrol a month
• Smithkline Beecham &
Family Holiday plan
Biocon
Annual Health Checkup • Biocon & SB
GTL in lieu of EDLI with critical
• Allergan
illness rider
Bereavement & Adoption leave • Biocon
Children’s Education • Biocon
9
10. Some Suggestions for Creating Differentiating
Benefits in your organization
Unless its an “industry given”, avoid playing the “me too” game.
Have lesser number of benefits, but offering higher value.
If you have the IT and other resources to support it, consider a
‘basket of benefits to chose from’ approach.
Be aware of employee demographics and how they impact
‘perceived value’ of benefits.
Do some modeling of ‘future demographics’ in 5 & 10 years
before introducing a new benefit.
10
11. THANK YOU
Ravi C Dasgupta
Vice President - Group HR
Biocon Limited
6th Dec 2012
http://in.linkedin.com/in/ravidasgupta
Editor's Notes
Adoption leave is as follows:If the age of the child being adopted is less than 3 years on the date of adoption the employee is entitled to 8 weeks leave with full pay. (Conveyance allowance will not be paid during adoption leave).If the age of the child being adopted is more than 3 years on the date of adoption the employee is entitled to 1 week leave with full pay. (Conveyance allowance will not be paid during adoption leave). Bereavement Leave (BL):An employee who has no leave to his/her credit is eligible for 3 calendar days of leave in the unforeseen event of the demise of his/her immediate family member. Immediate family member includes spouse, child, parents and parents-in-law ONLY.Employees with leave to their credit would use EL or CL as the case may be.