Question

Essay on EVP
Essay writing on EVP

Answer 1

Explanation:

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An employee value proposition (EVP) is the unique set of benefits which an employee receives in return for the skills, capabilities and experience they bring to a company. An EVP is about defining the essence of your company - how it is unique and what it stands for.

A strong EVP is important for two reasons: 1. When presented correctly, an EVP offers a comprehensive look into each position, making sure the role is attractive to top talent and allowing the candidate to discover whether or not they are going to be a good fit.

EVP is Internal, While Employer Brand is External

EVP is Internal, While Employer Brand is ExternalThis collection of tangible and intangible rewards represent your EVP. Your EVP is internal to your company. Outsiders may or may not know what value you provide your employees. In contrast, your employer brand is the face your company presents to the world.

Answer 2

Employee Value Proposition (EVP) is a term used to denote the balance of the rewards and benefits that are received by employee in return for their performance at the workplace.An EVP describes the mix of characteristics, benefits and ways of working in an organization. It is the deal struck between an organization and employee in return for their contribution and performance this “deal” characteristics an employer and differentiates it from its competition Why is an EVP impotant? An effective EVP can bring an organization significant benefits. According to the Corporate Leadership Council’s research a well thought through and executed EVP can :

- Improve the commitment of new hires by up to 29%

- Reduce new hire compensation premiums by up to 50%

- Increase the likelihood of employees acting as advocates from an average of 24% to 47%

In addition an effective EVP allows organizations to source more deeply within the labor market, increasing its access to passive candidates. This is important for organizations who want to secure the best talent in an increasingly difficult talent market.

What EVP revevance to developing Competitive Pay Programs

Helps you to attract and retain talent A clear and differentiated EVP ensures that you attract and retain people that you would inevitably lose to other organizations with more attractive EVPs.

Helps you to appeal to different markets and tough to hire talent groups For organizations operating in a number of countries the EVP will need to move beyond a one size fits all. A good EVP contains elements that appeal to different groups of employees from different cultures,age,groups and functions.

Helps you to re-engage a disenchanted workforce The process of creating an EVP involves surveying.

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