Descriptions
Minchington (2005) defines an employer value proposition (EVP) as a set of associations and offerings provided by an organization in return for the skills, capabilities and experiences an employee brings to the organization. The EVP is an employee-centered approach that is aligned to existing, integrated workforce planning strategies because it has been informed by existing employees and the external target audience. An EVP must be unique, relevant and compelling if it is to act as a key driver of talent attraction, engagement and retention. [1] [2]
DiVanna (2002) defined the employee value proposition (EVP) as the talent a company needs to exist to support the corporate value proposition. [3] DiVanna (2003) later refines the definition of the EVP as a portfolio of skills and experiences which can be considered as Assets and incorporated into a company's balance sheet. [4] DiVanna and Rogers (2005) provides additional clarity of the EVP as the value of the employee centers on the simple premise that an individual must be self-aware of their contribution to the firm under the present set of business conditions. More importantly, to keep the firm competitive, employees must also be cognizant of the firm's future directions and prepare to add value in new ways under a variety of emerging business conditions. [5]
It has become closely related to the concept of employer branding, in terms of the term EVP being used to define the underlying 'offer' on which an organization's employer brand marketing and management activities are based. In this context, the EVP is often referred to as the Employer Brand Proposition. [6]
Tandehill (2006) [7] reinforces this link to employer branding, and urges all organizations to develop a statement of why the total work experience at their organization is superior to that at other organizations. The value proposition should identify the unique people policies, processes and programs that demonstrate the organization's commitment to i.e., employee growth, management development, ongoing employee recognition, community service, etc. Contained within the value proposition are the central reasons that people will choose to commit themselves to an organization. The EVP should be actively communicated in all recruitment efforts, and in letters offering employment, the EVP should take the focus away from compensation as the primary "offer".
Personal job satisfaction is driven by far more than financial factors such as salary and benefits. An organization's EVP has thus been described as "critical to attracting, retaining and engaging quality people". [8] Other key factors influencing how an individual may choose to balance his or her career path in an organization are relocation services, salary, perquisites, career development, location, and so on.
An organization benefits from a well-formed EVP because it attracts and retains key talent, helps prioritize the HR agenda, creates a strong people brand, helps re-engage a disenchanted workforce, and reduces hire premiums. [9]
Only if the EVP of an organization matches what someone values in their work is there a win-win situation. An employer can then count on a motivated, committed worker. And the worker will experience their job as meaningful and fulfilling. [10]
Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, labor-power, or personnel.
Job rotation is a technique used by some employers to rotate their employees' assigned jobs throughout their employment. Employers practice this technique for a number of reasons. It was designed to promote flexibility of employees and to keep employees interested into staying with the company/organization which employs them. There is also research that shows how job rotations help relieve the stress of employees who work in a job that requires manual labor.
An internship is a period of work experience offered by an organization for a limited period of time. Once confined to medical graduates, internship is used practice for a wide range of placements in businesses, non-profit organizations and government agencies. They are typically undertaken by students and graduates looking to gain relevant skills and experience in a particular field. Employers benefit from these placements because they often recruit employees from their best interns, who have known capabilities, thus saving time and money in the long run. Internships are usually arranged by third-party organizations that recruit interns on behalf of industry groups. Rules vary from country to country about when interns should be regarded as employees. The system can be open to exploitation by unscrupulous employers.
Staffing is the process of finding the right worker with appropriate qualifications or experience and recruiting them to fill a job position or role. Through this process, organizations acquire, deploy, and retain a workforce of sufficient quantity and quality to create positive impacts on the organization's effectiveness. In management, staffing is an operation of recruiting the employees by evaluating their skills and knowledge before offering them specific job roles accordingly.
Recruitment is the overall process of identifying, sourcing, screening, shortlisting, and interviewing candidates for jobs within an organization. Recruitment also is the process involved in choosing people for unpaid roles. Managers, human resource generalists, and recruitment specialists may be tasked with carrying out recruitment, but in some cases, public-sector employment, commercial recruitment agencies, or specialist search consultancies such as Executive search in the case of more senior roles, are used to undertake parts of the process. Internet-based recruitment is now widespread, including the use of artificial intelligence (AI).
Human resource management is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and employee benefits systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws.
Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". It is an area of applied micro labor economics, but there are a few key distinctions. One distinction, not always clearcut, is that studies in personnel economics deal with the personnel management within firms, and thus internal labor markets, while those in labor economics deal with labor markets as such, whether external or internal. In addition, personnel economics deals with issues related to both managerial-supervisory and non-supervisory workers.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Employee engagement is a fundamental concept in the effort to understand and describe, both qualitatively and quantitatively, the nature of the relationship between an organization and its employees. An "engaged employee" is defined as one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization's reputation and interests. An engaged employee has a positive attitude towards the organization and its values. In contrast, a disengaged employee may range from someone doing the bare minimum at work, up to an employee who is actively damaging the company's work output and reputation.
Skills management is the practice of understanding, developing and deploying people and their skills. Well-implemented skills management should identify the skills that job roles require, the skills of individual employees, and any gap between the two.
A chief human resources officer (CHRO) or chief people officer (CPO) is a corporate officer who oversees all aspects of human resource management and industrial relations policies, practices and operations for an organization. Similar job titles include: chief people officer, chief personnel officer, executive vice president of human resources and senior vice president of human resources. Roles and responsibilities of a typical CHRO can be categorized as follows: workforce strategist, organizational and performance conductor, HR service delivery owner, compliance and governance regulator, and coach and adviser to the senior leadership team and the board of directors. CHROs may also be involved in board member selection and orientation, executive compensation, and succession planning. In addition, functions such as communications, facilities, public relations and related areas may fall within the scope of the CHRO role. Increasingly, CHROs report directly to chief executive officers and are members of the most senior-level committees of a company.
In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, parts thereof, customer accounts, or products and services.
Talent management (TM) is the anticipation of required human capital for an organization and the planning to meet those needs. The field has been growing in significance and gaining interest among practitioners as well as in the scholarly debate over the past 10 years, particularly after McKinsey's 1997 research and the 2001 book on The War for Talent. Although much of the previous research focused on private companies and organizations, TM is now also found in public organizations.
The war for talent is a term coined by Steven Hankin of McKinsey & Company in 1997, and a book by Ed Michaels, Helen Handfield-Jones, and Beth Axelrod, Harvard Business Press, 2001 ISBN 978-1-57851-459-5. The war for talent refers to an increasingly competitive landscape for recruiting and retaining talented employees. In the book, Michaels, et al., describe not a set of superior Human Resources processes, but a mindset that emphasizes the importance of talent to the success of organizations.
Job sharing or work sharing is an employment arrangement where two people, or sometimes more, are retained on a part-time or reduced-time basis to perform a job normally fulfilled by one person working full-time. This leads to a net reduction in per-employee income. The people sharing the job work as a team to complete the job task and are jointly responsible for the job workload. Pay, holidays and working hours are apportioned between the workers. In some countries, systems such as pay as you go and PAYE help make deductions for national insurance, and superannuations are made as a straightforward percentage.
Employee retention is the ability of an organization to retain its employees and ensure sustainability. Employee retention can be represented by a simple statistic. Employee retention is also the strategies employers use to try to retain the employees in their workforce.
Employer brand is branding and marketing the entirety of the employment experience. It describes an employer's reputation as a place to work, and their employee value proposition, as opposed to the more general corporate brand reputation and value proposition to customers. The term was first used in the early 1990s, and has since become widely adopted by the global management community. Minchington describes employer brand as "the image of your organization as a 'great place to work' in the mind of current employees and key stakeholders in the external market. The art and science of employer branding is therefore concerned with the attraction, engagement and retention initiatives targeted at enhancing your company's employer brand."
Workforce development, an American approach to economic development, attempts to enhance a region's economic stability and prosperity by focusing on people rather than businesses. It essentially develops a human-resources strategy. Work-force development has evolved from a problem-focused approach, addressing issues such as low-skilled workers or the need for more employees in a particular industry, to a holistic approach considering participants' many barriers and the overall needs of the region.
Compensation and benefits (C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation and benefits are tangible, there are intangible rewards such as recognition, work-life and development. Combined, these are referred to as total rewards. The term "compensation and benefits" refers to the discipline as well as the rewards themselves.
Recruitment marketing refers to the inbound strategies and tactics an organization uses to find, attract, engage, and nurture talent before they apply for a job, also called the pre-applicant phase of talent acquisition. It is the practice of promoting the benefits and value of working for an employer in order to recruit talent. It is analogous in many ways to corporate marketing, and is extremely similar to employer branding except recruitment marketing relates to trackable initiatives that drive awareness, engagement and conversion of applicants versus someone's impression of working at a company. Of course others see employer branding as a subset of recruitment marketing, in addition to extending the reach and exposure of career opportunities through search engine optimization (SEO), building and nurturing candidate relationships through talent communities, and the management of messaging and advertising of talent acquisition efforts.
