Talent Management has become a buzz word over the last few years, with many companies looking at various ways of attracting, engaging and retaining talented professionals to help their organisation achieve its business goals.

In my view, the most crucial factor to attract, engage and retain talent is for an organisation to create an Employee Value Proposition (EVP) that defines the essence of your organisation and what an employee (and potential employee) will receive from your company in exchange for the skills, capabilities and experience they bring to your company.

The EVP should be unique, something that gives your company a competitive advantage in attracting, engaging and retaining talented and high potential employees.

An organisation with a clear and tangible EVP will stand out among the rest when it comes to attracting, engaging and retaining talent. Organisations no longer have the luxury of having access to a large pool of talent because skills are scarce and talented professionals are few.

Developing an EVP which is clearly communicated to all prospective employees and well known to current employees has the potential to make your organisation an employer of choice. What is important is that all the value you promise to offer to employees in exchange for their skills and expertise must be fulfilled.

Some elements to consider when developing your organisation’s EVP are:

1. Branding: How you position your company as an employer of choice is extremely important to attract talent. Many employees want to be part of a brand they can resonate with, one where they can see the valuable contribution they make to assist an organisation achieve its objectives. Organisations who have strong CSI initiatives are also becoming more and more attractive, because employees want to be part of activities that “give back” to society at large.
2. Recruitment process: This is extremely important. The experience candidates have at the start of the recruitment process will ultimately determine whether the employee does in fact want to work at the organisation. Remember that as much as a hiring manager wants to assess whether the candidate is a good fit for the organisation, a candidate is equally evaluating whether the organisation is a place they would like to be employed by. How you treat a potential employee through the recruitment process gives a perception of how you will treat them once they are hired.
3. Attractive remuneration and benefits: The emphasis placed on structuring the remuneration and benefits (monetary and non-monetary) offered to current employees and potential employees is crucial. Employees (and job seekers) are motivated by several factors, and if your company’s remuneration and benefits structure is able to incorporate various motivators, employees will most likely accept an offer and stay with your organisation over the long term.
4. Career pathing: Most employees and jobseekers want to be employed by an organisation that offers them opportunities for further professional development and growth. If your organisation does not value professional development, career pathing and succession planning as an important component towards attracting and retaining employees, there is a likelihood that turnover will be higher than normal.
5. Performance management: How your organisation manages and rewards performance not only drives a high-performance culture but also fosters an environment where employees feel valued and in turn will put in a great deal of extra effort, if they know their efforts will be recognised and rewarded.

As the war for talent continues, organisations are required to become more and more dynamic, innovative and strategic in how they win the war by attracting and retaining the best talent, as well as engaging (through factors like rewarding and developing) talent from within the organisation.

Companies like Apple, Google and others have gotten it right. Perhaps now, more than ever before, is the best time to start developing your company’s EVP, so that just like Apple, Google, and other businesses, your organisation will become an employer of choice.

At the Human Element, my goal is to help your business thrive through effective, efficient and impactful management of people systems and processes. I understand the challenges businesses face when it comes to managing business outcomes through people (having more than 10 years of experience in human resource management across small, medium and large multinational organisations; and as a business owner myself) and I know the benefits of having impactful HR systems that aid in achieving outcomes, motivating, inspiring and engaging employees.

Contact me at elin@humanelement.co.za | +27 60 970 9455 to talk about your Talent Acquisition and Management, Human Resources and Employee Coaching needs.