Can learning about EVP help HR professionals?
Process automation and robotics will make a significant section of the workforce redundant.
With an increasing pool of jobseekers on one hand and an insufficient supply of talent on the other, HR will face the daunting task of not only attracting the right kind of talent to a company but also retaining them in a fiercely competitive labour market. Technology and digitisation are hugely impacting organisations and their work culture, making them leaner and more efficient even with fewer employees. The impact on the workforce is expected to grow as technology evolves further and even the HR department itself is not immune from it. From recruitment, training and employee management – payroll, rewards and recognition etc- to on-boarding, technology already plays a big role in HR functions.
Skill requirement for jobs will also become more specific as most mundane and repetitive tasks can be handled by technology.
Candidates with a very specific skill set or niche talent will be increasingly sought after and competition will be brutal. Attracting t his talent will require a deep understanding of what motivates candidates who possess such a specific skill set so it may be incorporated into the organisation’s EVP.
Mastery over the concept surrounding what constitutes an effective EVP will be beneficial for an HR practitioner when devising and executing on a unique EVP for their organisation.
An EVP, however, is not a product of the HR department or, for that matter, any single department of an organisation. It is an organisation wide proposition and requires a synergy across all departments and stakeholders.
However, it is the HR department that is required to take the lead in deciding the composition, focus and direction an EVP takes once it’s been established, as well as how it’s implemented and sustained.
Therefore, a thorough understanding of the concept behind an EVP and its relationship with various components viz. pay, perks, career progression, rewards and recognition etc. is not only necessary but mandatory for any HR practitioner to effectively discharge his/her duty.
As job requirements and skills required to perform a job evolve, an organisation’s EVP must evolve along with them in order to remain attractive to prospective employees. Also, a perfect EVP on paper is worthless as poor implementation of an EVP defeats the very purpose of having one.
Thus for an HR personnel/ aspirant, staying on top of their company’s EVP and understanding the relationship between the various components is key to attracting and retaining top talent.