WHAT IS YOUR VALUE PROPOSITION TO ALL OF YOUR STAKEHOLDERS?

By
Education & Training with Performance Development Strategies

Who are you stakeholders?  They are your clients, your team, and your strategic partners to name a few.  What if you make an offer for people to join your team and they turn it down?

It is time to look in the mirror and check your Employee Value Proposition.  An Employee Value Proposition explains why a highly qualified employee would want to work for your company and why that highly qualified person would want to stay.

This Employee Value Proposition would be tied to your strategic plan and include your vision, your values, and, your mission. The values should include such things as social responsibility, ethical conduct, and reputation. All three together establishes your organization’s culture.

Can you describe your culture? Every organization has a culture. Question is this. Is it the culture you want?

The Employee Value Proposition EVP matters. Although people work for money there are other factors, and these other factors matter to the new workforce. A study done in 2013 by PwC and others reported that more than half of the workforce in many organizations will be Millennials by 2020.

The study found that Millennials want to feel that their work has meaning and is worthwhile. They want to work for an organization that has values that makes them feel proud. Furthermore, most Millennials say they would consider leaving an employer with values that no longer meet their expectations.

Think of your employees as your greatest asset. Without engaged employees you are less likely to have loyal customers and be successful. Therefore, employment branding and the employee value proposition takes on new importance.

Building the employee value proposition and brand requires spreading a message. It uses marketing and communications channels like those used to market your products or services.

What action would you take if your employees were to give a negative answer to the statement, “At work, I have the opportunity to do what I do best every day?” Of course, you would want to give them work that made use of their skills. But do you know how to do that? Meaningful work means different things to the different people. It is affected preference, personality and generational and cultural differences.   Your Employee Value Proposition should consider the diversity of talent, age and culture.

If your organization is suffering from a recruitment challenge this can be costly in expense and lost customers. When you consider recruiting and training, lost customer service, lost productivity, and lost morale in others who are left, the cost is at least two times the employee’s salary.   An engaged employee becomes more valuable as he or she grows. In addition, high-performing companies have loyal customers because they have loyal employees.

Employee Valued

What is your Employee Value Statement? Is it supported by a line item on your P&L? This is an investment rather than an expense. The strategy should also include careful selection to see that an employee is matched to a job where he or she has a chance to excel, an assessment plan to identify key employee strengths, and a development plan to leverage those employee strengths.  For a similar post on our website see CAN'T RECRUIT AND RETAIN?  HAVE YOU CHECKED YOUR EMPLOYEE VALUE PROPOSITION?

Learn how to create your employee brand to attract the right employees.

Contact us to learn more

or call 914-953-4458.

Comments (18)

Aura Alex
Co-Founder, CloseMyDeal, LLC - Seattle, WA
Transaction Management Services

Hello, Grant.

I share your thought on "company culture." I strongly believe a company culture is best developed at the "startup" stage.  Culture breeds your "brand" as it must be nurtured and led by example.  According to Tony Hsieh, CEO of Zappos, he says: "your culture is your brand."  I spent many years working with many startups helping them get funded.  And the topic of "culture" always came up. I enjoyed your article, thank you for sharing. 

Oct 17, 2021 09:38 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant love your post and indeed that is why I am with the Brokerage and the Manager, because our values and business styles are on the same page, hence I have been there 12+ years...Endre

Oct 17, 2021 11:52 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Grant... I am happy that at this stage of my life the only value proposition I need to think about seriously is the one I offer to my clients.

Oct 18, 2021 04:41 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

If employees don't feel valued then they wouldn't be as excited about working for the employer which affects everything.

Oct 18, 2021 04:46 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Grant. Endre Barath, Jr. summed it up well. Nothing to add except enjoy your day.

Oct 18, 2021 05:26 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good morning Grant,

Great post as usual, and this is one of the reasons we frequent certain businesses and not others.  Happy Monday!  A

Oct 18, 2021 07:03 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Aura - absolutely correct.  Your culture is your brand.

Endre - that is it in a nutshell.  I just met someone who left a brokerage because of culture.

Nina - yes, you are in a very good place now.

Brian - and that not feeling valued in somehow transmittet the client.

Wayne - yes, Endre has it right as do others here as well.

Ron and Alexandra - yes, the culture is transmitted to the client and customer.

Oct 18, 2021 07:18 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Grant, for sharing your experience and your advice.

Oct 18, 2021 08:03 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Roy - have a great day as well.

Oct 18, 2021 08:05 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Grant - well-said.  Once again.   

Oct 18, 2021 08:30 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, Laura and I do well together.   She left this morning for a few days off while the kids are on fall break.   I am helping her with her work, and when I leave in a couple of weeks, she will do the same.  WIN WIN for us both.  Plus, bouncing ideas and information back and forth always.

Oct 18, 2021 10:33 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Grant Schneider - I didn't have this at my first brokerage.  I am loyal to the people who employ me but after a few years, it took its toll on me.  Everyone was out for themselves and the broker/owner always supported those who made him the most money.  I had to leave and I am so happy with where I landed.  EVP has to line up for both parties. The best way to do that is to have an expectations talk and put all cards on the table. 

Oct 18, 2021 03:54 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Grant this is good food for thought.  I wonder how many employers consider that at all.

Oct 18, 2021 03:55 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

For me, it's definitely a situation of knowing yourself simply  being always ready for something!

Oct 18, 2021 10:13 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Grant, We left our first broker because of their corporate policies. Will never work within a large corporate atmosphere again!

Oct 19, 2021 05:24 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Michael - thanks I appreciate your kind words.

Joan - sounds like the team is in a win win mode.  I am sure you are glad.

Sheri - that is absolutely the case and the younger workers won't stay as long as you did.

George - the smart ones do because they will not keep today's workers without it.

Larry and Sheila - the large can have advantages but also many drawbacks.

Oct 19, 2021 07:35 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Thank you for sharing so many great thoughts Grant. The comments are also superb...

Oct 21, 2021 07:19 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, thankfully I only have one agent, as when I get busy, there isn't a lot of time to assist Laura, but she isn't brand new.

Oct 24, 2021 07:59 AM