Benchmarking of Benchmarking of Employee Value PropositionEmployee Value Proposition

practicespractices

Anusuya SharmaAnusuya Sharma05MBA0405MBA04

The Business School JammuThe Business School Jammu

Introduction to Employee Introduction to Employee Value PropositionValue Proposition

“ “ People are your most important assets. Treat them like People are your most important assets. Treat them like they make a difference – and they’ll make a difference”they make a difference – and they’ll make a difference”

• Balance point or fulcrum of give and take in Balance point or fulcrum of give and take in employment relationshipemployment relationship

• A measurement of the balance between what an A measurement of the balance between what an employee receives from their employer in return for employee receives from their employer in return for their performance on the jobtheir performance on the job

• Bellwether for Human Resource as to how well the Bellwether for Human Resource as to how well the organization is performing as an ‘employer’organization is performing as an ‘employer’

• EVP varies by industry and company, and is driven EVP varies by industry and company, and is driven by the norms and values that prospective employees by the norms and values that prospective employees have as they try to match their personal vision of have as they try to match their personal vision of “self actualization” with the offer or reputation of the “self actualization” with the offer or reputation of the employer.employer.

Employee Value PropositionEmployee Value Proposition

Why measure EVPWhy measure EVP Plays crucial role in employee retention & Plays crucial role in employee retention &

developmentdevelopment It is important to employee although many It is important to employee although many

would not identify it succinctlywould not identify it succinctly EVP has emotional or affective content as EVP has emotional or affective content as

well as physicalwell as physical It helps assess the Employer Brand and It helps assess the Employer Brand and

market place reputationmarket place reputation It allows comparing group of employees as It allows comparing group of employees as

well as employerswell as employers It allows identifying the gaps or weaknesses It allows identifying the gaps or weaknesses

in EVP competitivelyin EVP competitively

Elements of EVPElements of EVP

Rewards & RecognitionRewards & RecognitionEmployee Benefit PracticesEmployee Benefit PracticesCareer GrowthCareer GrowthEmployee EmpowermentEmployee EmpowermentPerformance AppraisalPerformance Appraisal

Findings & AnalysisFindings & Analysis

Rewards & Recognition Rewards & Recognition

• Could be monetary or just a certificate of recognition Could be monetary or just a certificate of recognition or verbal praiseor verbal praise

• ST Micro encourages the employees to come up with ST Micro encourages the employees to come up with suggestions by offering prizes for best suggestions.suggestions by offering prizes for best suggestions.

• ST Micro offers ST Micro offers ESOPsESOPs to good performers as a form to good performers as a form of rewards, which helps employees, gain a sense of of rewards, which helps employees, gain a sense of belongingness to the organization.belongingness to the organization.

• Prefetti identifies Prefetti identifies Star PerformersStar Performers on the sales on the sales meet and awards them meet and awards them

Making the workplace a Home Making the workplace a Home away from homeaway from home

• Organization of celebrations like birthdays, Organization of celebrations like birthdays, anniversaries etc.anniversaries etc.

• Impromptu celebrations like Earth week, Impromptu celebrations like Earth week, dress week, family events etc.dress week, family events etc.

• Coke has a “Chill Zone” within the office Coke has a “Chill Zone” within the office premises, which offers various forms of premises, which offers various forms of relaxations like radio, games etc. and where relaxations like radio, games etc. and where employees can go any time of the day to employees can go any time of the day to unwind whenever they need to take a unwind whenever they need to take a break.break.

• Ranbaxy organizes athletic activities like Ranbaxy organizes athletic activities like tennis and football apart from regular tennis and football apart from regular outings and picnics.outings and picnics.

Employee Benefit PracticesEmployee Benefit Practices

Employee Benefit Practices

Child Care3%

Flextime14%

Jobsharing14%

Vacation/SickTime

25%

HealthPlanAlternatives22%

Timeoff22%

Employee Benefit Practices Employee Benefit Practices followed by participating cos.followed by participating cos.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Em

plo

ye

e B

en

efi

t P

rac

tic

es

Gla

xo

Co

ke

Fri

toL

ay

Pe

rfe

tti

Ra

nb

axy

VL

CC

ca

no

n

Wip

ro

ST

Cos. & Employee Benefit Practices

Child care

jobsharing

felxtime

timeoff provisions

health planalternatives

vacation/sick time

Training & developmentTraining & development

GSKI 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

PrefettiInduction 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

CanonFormal Induction, training related to domain, team building, time

management etc.

Wipro Formal Induction

STMicro Formal Induction

Methods to identify Core Methods to identify Core CompetenciesCompetencies

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 No formal method

WiproComprehensive 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

Best PracticesBest Practices

ST Micro offers the unique concept of ST ST Micro offers the unique concept of ST University certification, which provides great University certification, which provides great initiative for employees to pro actively take initiative for employees to pro actively take part in trainings.part in trainings.

Wipro has preparation of formal training Wipro has preparation of formal training calendars and mapping the employees for calendars and mapping the employees for trainings which is a comprehensive method trainings which is a comprehensive method of taking care of training needs of of taking care of training needs of employeesemployees

Ranbaxy has Individual Development PlansRanbaxy has Individual Development Plans

Employee EmpowermentEmployee Empowerment

15

15

11

10

13

12

12

12

15

0 2 4 6 8 10 12 14 16

Level of soliciting opinion,result sharing & subsequent changes

Glaxo

Coke

Fritto Lay

Prefetti

Ranbaxy

VLCC

Canon

Wipro

STMicro

How Important Employee's Opinion is in your Co.

Performance AppraisalPerformance Appraisal

Types of Appraisal Methods

18%

11%

9%7%11%9%

6%

13%

9% 7%

Formal AnnualAppraisalProbationary Review

Informal one-oneReview360 Degree Review

Counseling Meeting

Skill/Job related tests

Temperory Jobcover/transferAssessment Centres

Peer Review

Psychometric test

ComparisonComparison

15

13

1112 12 12

9

13 13

0

2

4

6

8

10

12

14

16

Qu

ality

of A

pp

rais

al s

yste

m

Gla

xo

Cok

e

Frit

oLay

Per

fetti

Ran

baxy

VLC

C

Can

on

Wip

ro

ST

Mic

ro

How Efficient is your Appraisal System

RecommendationsRecommendations

• Retain Star performers by rewarding them Retain Star performers by rewarding them in ways that they truly value, reflecting their in ways that they truly value, reflecting their individual styles and interests. individual styles and interests.

• Include: Employees should be given Include: Employees should be given opportunities to voice their opinions and opportunities to voice their opinions and suggestions. Organization can offer prize for suggestions. Organization can offer prize for best suggestion to encourage employees to best suggestion to encourage employees to come up with suggestions.come up with suggestions.

• CustomizeCustomize: : It is critical to It is critical to tailortailor retention retention strategies to each type of worker. Plans strategies to each type of worker. Plans developed by the organization and developed by the organization and employees should be mapped with the kind employees should be mapped with the kind of training programs they require and a of training programs they require and a Formal Training Calendar should be Formal Training Calendar should be designed.designed.

Continued..Continued..

• The organization can develop something on the lines The organization can develop something on the lines of creating their own university within the of creating their own university within the organization offering certifications and trainings, organization offering certifications and trainings, which would help employees, grow and increase their which would help employees, grow and increase their knowledge thereby helping the career growth.knowledge thereby helping the career growth.

• The information exchange and compensation The information exchange and compensation maintenance system could be made maintenance system could be made automatedautomated and and system dependent which would make it more system dependent which would make it more efficient, reliable and unbiased.efficient, reliable and unbiased.

• There should be a place to There should be a place to unwindunwind within the office within the office premises to help employees take a much-needed premises to help employees take a much-needed break when required.break when required.

• Organization can offer ESOPs in the form of rewards, Organization can offer ESOPs in the form of rewards, which would increase their sense of belongingness to which would increase their sense of belongingness to the organization.the organization.

Thank YouThank You