Revisit your purpose and supporting values to create a great employee value proposition
C OVER
The fight for talent requires you to rethink what it is your organisation can deliver for an employee that will be differentiated and inspiring, and how you can sustain that throughout the entirety of the employee’s career, says Darci Darnell, Global Head of Customer Practice at Bain & Company
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he experience of the pandemic was a turning point for a lot of employees through all levels of organisations. As people confronted the realities of the workplace and even more existential questions around life and death, the feeling among some that they were giving so much to work without seeing much in return, struck a chord and ignited the “great resignation.” However, similar to the customer value proposition - that you can’t just throw money at the problem and hope it goes away - just piling money on top of a problematic core offer-
ing will create a cycle of churn as people take advantage of sign-on bonuses and other financial incentives only to resign once their contract period expires, says Darci Darnell, a partner in Bain & Company’s Chicago office and global head of its customer practice. Fundamentally, the fight for talent requires you to rethink what it is your organisation can deliver for an employee that will be differentiated and inspiring, and how you can sustain that throughout the entirety of the employee’s career, she says. In an exclusive interaction with People Matters,
One way to practically track delivery against EVP is a parallel to what we do with customers: get feedback!
STORY
By Mamta Sharma
Darnell, who has served in multiple global leadership roles and today sits on the firm’s top elected governance committee, shares insights on improving employee retention through a good employee value proposition (EVP). Here are a few excerpts from the interview. April 2022 |
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