For employers to effectively attract and retain a workforce for the future, they need to create a meaningful employee value proposition (EVP) that delivers a compelling employee experience and meets the full range of their employees’ needs.
It’s no longer enough for HR leaders to attract, retain and motivate employees with compensation and benefits alone. These contractual rewards remain important and foundational, but are too easily replicated and expensive to change. Your employees expect and need more.
- 79% of adults trust employers to give advice on planning, saving and investing.
- 78% of employees would work on a contract basis and 51% want more flexible work options
- 50% of employees want more focus on health and wellness from their employers.
Video: Working With Purpose
Hear how Ernst & Young and Siemens focus on purpose and meaningful work to create memorable employee experiences.
Drive Employee Motivation, Satisfaction And Commitment With A Meaningful Employee Value Proposition
Employers who invest in creating an EVP with employee rewards that go beyond pay and benefits gain more than just employee satisfaction. Our research shows that there are seven critical aspects of an organization’s EVP that are highly correlated with employee outcomes, including motivation, advocacy, commitment and intention to stay.
Analysis of employee survey data from over five million employees across 149 companies as part of Mercer | Sirota’s normative database reveals:
- Career Development is the EVP element with the strongest correlation to outcome measures like employee commitment, intention to stay, satisfaction, advocacy and motivation.
- Employees are more likely to be motivated to go above and beyond when they feel they are doing Meaningful Work.
- Employees with a strong Sense of Belonging and Support for Wellness show stronger commitment to their organization and are more likely to stay.
By expanding your view of total rewards to include programs that address career development, financial well-being, physical and emotional wellness and purpose, you can deliver a more meaningful value proposition for your employees.
Do you have an employee experience designed to attract and retain a workforce for the future?
Download this article to learn how to:
- Create a compelling employee experience for the future of work
- Differentiate your employee value proposition with targeted rewards that respond to employee needs for career development, total wellbeing and purpose
- Optimize your employee rewards programs and link changes to business outcomes like employee retention, motivation and satisfaction
- Design employee rewards based on personas and deliver engaging and personalized communications