Download - Employee Value Proposition
Benchmarking of Benchmarking of Employee Value PropositionEmployee Value Proposition
practicespractices
Anusuya SharmaAnusuya Sharma05MBA0405MBA04
The Business School JammuThe Business School Jammu
Introduction to Employee Introduction to Employee Value PropositionValue Proposition
“ “ People are your most important assets. Treat them like People are your most important assets. Treat them like they make a difference – and they’ll make a difference”they make a difference – and they’ll make a difference”
• Balance point or fulcrum of give and take in Balance point or fulcrum of give and take in employment relationshipemployment relationship
• A measurement of the balance between what an A measurement of the balance between what an employee receives from their employer in return for employee receives from their employer in return for their performance on the jobtheir performance on the job
• Bellwether for Human Resource as to how well the Bellwether for Human Resource as to how well the organization is performing as an ‘employer’organization is performing as an ‘employer’
• EVP varies by industry and company, and is driven EVP varies by industry and company, and is driven by the norms and values that prospective employees by the norms and values that prospective employees have as they try to match their personal vision of have as they try to match their personal vision of “self actualization” with the offer or reputation of the “self actualization” with the offer or reputation of the employer.employer.
Employee Value PropositionEmployee Value Proposition
Why measure EVPWhy measure EVP Plays crucial role in employee retention & Plays crucial role in employee retention &
developmentdevelopment It is important to employee although many It is important to employee although many
would not identify it succinctlywould not identify it succinctly EVP has emotional or affective content as EVP has emotional or affective content as
well as physicalwell as physical It helps assess the Employer Brand and It helps assess the Employer Brand and
market place reputationmarket place reputation It allows comparing group of employees as It allows comparing group of employees as
well as employerswell as employers It allows identifying the gaps or weaknesses It allows identifying the gaps or weaknesses
in EVP competitivelyin EVP competitively
Elements of EVPElements of EVP
Rewards & RecognitionRewards & RecognitionEmployee Benefit PracticesEmployee Benefit PracticesCareer GrowthCareer GrowthEmployee EmpowermentEmployee EmpowermentPerformance AppraisalPerformance Appraisal
Findings & AnalysisFindings & Analysis
Rewards & Recognition Rewards & Recognition
• Could be monetary or just a certificate of recognition Could be monetary or just a certificate of recognition or verbal praiseor verbal praise
• ST Micro encourages the employees to come up with ST Micro encourages the employees to come up with suggestions by offering prizes for best suggestions.suggestions by offering prizes for best suggestions.
• ST Micro offers ST Micro offers ESOPsESOPs to good performers as a form to good performers as a form of rewards, which helps employees, gain a sense of of rewards, which helps employees, gain a sense of belongingness to the organization.belongingness to the organization.
• Prefetti identifies Prefetti identifies Star PerformersStar Performers on the sales on the sales meet and awards them meet and awards them
Making the workplace a Home Making the workplace a Home away from homeaway from home
• Organization of celebrations like birthdays, Organization of celebrations like birthdays, anniversaries etc.anniversaries etc.
• Impromptu celebrations like Earth week, Impromptu celebrations like Earth week, dress week, family events etc.dress week, family events etc.
• Coke has a “Chill Zone” within the office Coke has a “Chill Zone” within the office premises, which offers various forms of premises, which offers various forms of relaxations like radio, games etc. and where relaxations like radio, games etc. and where employees can go any time of the day to employees can go any time of the day to unwind whenever they need to take a unwind whenever they need to take a break.break.
• Ranbaxy organizes athletic activities like Ranbaxy organizes athletic activities like tennis and football apart from regular tennis and football apart from regular outings and picnics.outings and picnics.
Employee Benefit PracticesEmployee Benefit Practices
Employee Benefit Practices
Child Care3%
Flextime14%
Jobsharing14%
Vacation/SickTime
25%
HealthPlanAlternatives22%
Timeoff22%
Employee Benefit Practices Employee Benefit Practices followed by participating cos.followed by participating cos.
0%
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40%
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60%
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100%
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Cos. & Employee Benefit Practices
Child care
jobsharing
felxtime
timeoff provisions
health planalternatives
vacation/sick time
Training & developmentTraining & development
GSKI year Induction Program for newcomers and orientation given for
all departments, Quick induction for lateral levels
Coke Formal 3 months Induction Program
Fritto Lay Initial Induction, quarterly orientation
PrefettiInduction and orientation program at all levels, corporate, regional
and factory. Average, 1 week to 10 days.
Ranbaxy Formal Induction and training
VLCC 2-4 weeks Formal Induction program
CanonFormal Induction, training related to domain, team building, time
management etc.
Wipro Formal Induction
STMicro Formal Induction
Methods to identify Core Methods to identify Core CompetenciesCompetencies
GSK Functional Competencies required by organization identified
Coke Self Assessment, Assessment by manager & discussions
Fritto Lay
Assessment centers and performance evaluation and feedbacks
Prefetti No formal method
Ranbaxy
Individual development plans
VLCC Through training results
Canon No formal method
WiproComprehensive Mapping of employees with training programs.
Formal Training Calendar prepared after thorough discussions
STMicro
Behavioral trainings, Technical trainings as prescribed by manager, ST University Certification Program
Best PracticesBest Practices
ST Micro offers the unique concept of ST ST Micro offers the unique concept of ST University certification, which provides great University certification, which provides great initiative for employees to pro actively take initiative for employees to pro actively take part in trainings.part in trainings.
Wipro has preparation of formal training Wipro has preparation of formal training calendars and mapping the employees for calendars and mapping the employees for trainings which is a comprehensive method trainings which is a comprehensive method of taking care of training needs of of taking care of training needs of employeesemployees
Ranbaxy has Individual Development PlansRanbaxy has Individual Development Plans
Employee EmpowermentEmployee Empowerment
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0 2 4 6 8 10 12 14 16
Level of soliciting opinion,result sharing & subsequent changes
Glaxo
Coke
Fritto Lay
Prefetti
Ranbaxy
VLCC
Canon
Wipro
STMicro
How Important Employee's Opinion is in your Co.
Performance AppraisalPerformance Appraisal
Types of Appraisal Methods
18%
11%
9%7%11%9%
6%
13%
9% 7%
Formal AnnualAppraisalProbationary Review
Informal one-oneReview360 Degree Review
Counseling Meeting
Skill/Job related tests
Temperory Jobcover/transferAssessment Centres
Peer Review
Psychometric test
ComparisonComparison
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How Efficient is your Appraisal System
RecommendationsRecommendations
• Retain Star performers by rewarding them Retain Star performers by rewarding them in ways that they truly value, reflecting their in ways that they truly value, reflecting their individual styles and interests. individual styles and interests.
• Include: Employees should be given Include: Employees should be given opportunities to voice their opinions and opportunities to voice their opinions and suggestions. Organization can offer prize for suggestions. Organization can offer prize for best suggestion to encourage employees to best suggestion to encourage employees to come up with suggestions.come up with suggestions.
• CustomizeCustomize: : It is critical to It is critical to tailortailor retention retention strategies to each type of worker. Plans strategies to each type of worker. Plans developed by the organization and developed by the organization and employees should be mapped with the kind employees should be mapped with the kind of training programs they require and a of training programs they require and a Formal Training Calendar should be Formal Training Calendar should be designed.designed.
Continued..Continued..
• The organization can develop something on the lines The organization can develop something on the lines of creating their own university within the of creating their own university within the organization offering certifications and trainings, organization offering certifications and trainings, which would help employees, grow and increase their which would help employees, grow and increase their knowledge thereby helping the career growth.knowledge thereby helping the career growth.
• The information exchange and compensation The information exchange and compensation maintenance system could be made maintenance system could be made automatedautomated and and system dependent which would make it more system dependent which would make it more efficient, reliable and unbiased.efficient, reliable and unbiased.
• There should be a place to There should be a place to unwindunwind within the office within the office premises to help employees take a much-needed premises to help employees take a much-needed break when required.break when required.
• Organization can offer ESOPs in the form of rewards, Organization can offer ESOPs in the form of rewards, which would increase their sense of belongingness to which would increase their sense of belongingness to the organization.the organization.
Thank YouThank You