1. Benchmarking of Employee Value Proposition practices
Anusuya Sharma
05MBA04
The Business School Jammu

2. Introduction to Employee Value Proposition
“ People are your most important assets. Treat them like they make a difference – and they’ll make a difference”
Balance point or fulcrum of give and take in employment relationship
A measurement of the balance between what an employee receives from their employer in return for their performance on the job
Bellwether for Human Resource as to how well the organization is performing as an ‘employer’
EVP varies by industry and company, and is driven by the norms and values that prospective employees have as they try to match their personal vision of “self actualization” with the offer or reputation of the employer.

3. Employee Value Proposition

4. Why measure EVP Plays crucial role in employee retention & development
It is important to employee although many would not identify it succinctly
EVP has emotional or affective content as well as physical
It helps assess the Employer Brand and market place reputation
It allows comparing group of employees as well as employers
It allows identifying the gaps or weaknesses in EVP competitively

5. Elements of EVP Rewards & Recognition Employee Benefit Practices
Career Growth
Employee Empowerment
Performance Appraisal

6. Findings & Analysis

7. Rewards & Recognition
Could be monetary or just a certificate of recognition or verbal praise
ST Micro encourages the employees to come up with suggestions by offering prizes for best suggestions.
ST Micro offers ESOPs to good performers as a form of rewards, which helps employees, gain a sense of belongingness to the organization.
Prefetti identifies Star Performers on the sales meet and awards them

8. Making the workplace a Home away from home
Organization of celebrations like birthdays, anniversaries etc.
Impromptu celebrations like Earth week, dress week, family events etc.
Coke has a “Chill Zone” within the office premises, which offers various forms of relaxations like radio, games etc. and where employees can go any time of the day to unwind whenever they need to take a break.
Ranbaxy organizes athletic activities like tennis and football apart from regular outings and picnics.

9. Employee Benefit Practices

10. Employee Benefit Practices followed by participating cos.

11. Training & development
GSK
I year Induction Program for newcomers and orientation given for all departments, Quick induction for lateral levels
Coke
Formal 3 months Induction Program
Fritto Lay
Initial Induction, quarterly orientation
Prefetti
Induction and orientation program at all levels, corporate, regional and factory. Average, 1 week to 10 days.
Ranbaxy
Formal Induction and training
VLCC
2-4 weeks Formal Induction program
Canon
Formal Induction, training related to domain, team building, time management etc.
Wipro
Formal Induction
STMicro

12. Methods to identify Core Competencies
GSK
Functional Competencies required by organization identified
Coke
Self Assessment, Assessment by manager & discussions
Fritto Lay
Assessment centers and performance evaluation and feedbacks
Prefetti
No formal method
Ranbaxy
Individual development plans
VLCC
Through training results
Canon
Wipro
Comprehensive Mapping of employees with training programs. Formal Training Calendar prepared after thorough discussions
STMicro
Behavioral trainings, Technical trainings as prescribed by manager, ST University Certification Program

13. Best Practices
ST Micro offers the unique concept of ST University certification, which provides great initiative for employees to pro actively take part in trainings.
Wipro has preparation of formal training calendars and mapping the employees for trainings which is a comprehensive method of taking care of training needs of employees
Ranbaxy has Individual Development Plans

14. Employee Empowerment

15. Performance Appraisal

16. Comparison

17. Recommendations
Retain Star performers by rewarding them in ways that they truly value, reflecting their individual styles and interests.
Include: Employees should be given opportunities to voice their opinions and suggestions. Organization can offer prize for best suggestion to encourage employees to come up with suggestions.
Customize: It is critical to tailor retention strategies to each type of worker. Plans developed by the organization and employees should be mapped with the kind of training programs they require and a Formal Training Calendar should be designed.

18. Continued..
The organization can develop something on the lines of creating their own university within the organization offering certifications and trainings, which would help employees, grow and increase their knowledge thereby helping the career growth.
The information exchange and compensation maintenance system could be made automated and system dependent which would make it more efficient, reliable and unbiased.
There should be a place to unwind within the office premises to help employees take a much-needed break when required.
Organization can offer ESOPs in the form of rewards, which would increase their sense of belongingness to the organization.

19. Thank You