Communicating Your EVP with an LMS
Most leaders understand the definition of a customer value proposition. It is a distinct and compelling reason why customers should do business with a given organization. However, most leaders are not able to articulate why talented employees should join and stay with them. In the current competitive landscape, companies need to offer the same level of consideration to recruiting and retention as they do to customer management.
According to Gartner, one of the best ways to facilitate recruiting and increase employee retention is with a strong employee value proposition (EVP).
The EVP portrays how the labor market and employees perceive the value employees gain by working in an organization across five attributes:
- Opportunity includes career and development opportunities and organization growth rate
- People includes manager quality, coworker quality, senior leadership reputation and camaraderie
- Organization includes market position, product/service quality and social responsibility
- Work includes job-interest alignment and work-life balance
- Rewards include compensation, health and retirement benefits and vacation time
Additionally, there are two elements each EVP should include:
- Values/skills/experience an employee can offer an employer
- Benefits/culture/opportunities an employer can offer employees
The ROI many companies will gain by creating an EVP is longer-tenured employees and less turnover with employees that care and want to be there. By reducing the cost of hiring new talent and onboarding them to the organization, employers can also reduce major shocks to their bottom line.
Incorporating an LMS into an organization is a great way to activate your EVP and provide employees the opportunity to master various skills in their roles. By investing the appropriate training in an employee, they will develop a greater sense of self-worth as they become more valuable to the company. The company, too, will gain specific benefits from training and developing its workers, including increased productivity, reduced employee turnover and a decreased need for constant supervision.
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