In a bear market some employers are too comfortable with retaining their employees. Sure some people are aiming for Job Security. The UK only just narrowly missed a triple dip recession with growth figures of 0.3% in the 1st quarter 2013. Although the US economy has expanded 2.5% in the 1st quarter of 2013. Economic uncertainty has in many cases damaged the employment value proposition (EVP). The question used to be are you comfortable with change, and many would say yes. Today, in a rapid changing world some organisations are constantly redefining structures, programmes and people as they scramble in what is for them unchartered territory. There is the question of course if they have the right leadership, because the constant change has created a fatigued workforce.
What Organisations Development professional needs to do is look at what is the EVP after the desired organisation is in place to navigate successfully in the changed economy. What capabilities are required, who are the key Talents, and what can we realistically offer those people now and in the future.
- Package: Understand our total offering in compensation. Money is no the only factor. When prospective employees see the total EVP as attractive there is less emphasis on the financial remuneration.
- Development Opportunities: What opportunities does the new EVP offer? What development would you have, is their reduced time to market so candidates get to work in Highly Effective Collaboration Teams. Is there a high growth rate in emerging markets, so there are international experience and exposure opportunities? Or is there organisational stability? All of these factors can be positive to different people what is important is to not over promise.
- Heart: What is your organisation’s heart made up of? Do you live and breath entrepreneurship, are you industrial, are you leading environmental change or technological innovation. Ask your employees and be clear on that to attract those who also have it as a passion, and at the heart of what they do.
- Life: What is the work that is being offered? Think about the total package: work-life balance or flexibility, family friendly, location, alignment with job interests, what difference the organisation makes, business travel. We do not exist in separate components, we need to understand how work will combine with our life.
- Mind Set: What is the culture? Is it homely? Is it like coming in to play everyday, challenging, collaborative, great quality people, inspiring leadership. Again ask you employees and also your new recruits.
All of these things will help you to define a better EVP in a Bear market where you can reach those people who are not necessarily looking to move jobs, retain your current employees and be ready for when the market does turn.