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What is the Employee Value Program

EVP, what is the Employee Value Program?

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If you are in the process of developing an EVP Employee Value Program, this publication will be of interest to you. The EVP refers to the set of material or immaterial benefits offered by the company to its employees and with which it rewards their work in the organization. This concept is part of the strategy of Employer BrandingThis concept is part of the Employer Branding strategy, which seeks to create processes that lead the organization to become an attractive employer brand for professionals. In this blog we will tell you about the main characteristics of the EVP, as well as some tips that you can apply in your company so that you can more easily reach the ideal talent. Also, keep in mind that the hiring of hiring personnel is not an easy task and requires several steps that must be planned, even more so if we are talking about a recently created organization that is looking for that human talent that will help it take off. At TalentFY we help companies so that the selection process of digital profiles is no longer a headache and we enhance their EVP to reach the best candidates. Main features of the EVP The EVP should reflect why the organization is worth working for and what it means to be part of your team. Thus, the Employee Value Program includes both tangible and intangible elements. Tangible elements Refers to the retributions obtained by the employee for his or her work: such as salary, vacation days, financial aid for transportation, food or education. Also in this category are the internal training processes offered by the company: medical insurance, work equipment, among others. Intangible elements The intangible elements of the EVP are those that, although not reflected in the payroll, represent a fundamental part of the employee’s experience in the organization. This category includes work environment, corporate culture, internal growth opportunities, work team, leadership development and creativity, among others. If you want to learn more about how to develop intangible elements in your company, we invite you to review our interview with Marisa Elizundia, creator of the Emotional Salary Barometer, with whom we talked about how to manage the emotional salary. emotional salary. Tips to develop and improve your EVP The development of the EVP is a determining factor in making companies attractive to professionals, as well as in building the loyalty of the organization’s employees. An example of this is the study by Gartner, an IT research company, 63% of the candidates they surveyed rejected selection processes due to the lack of an attractive EVP. Here are some tips to keep in mind when working with your company’s Employee Value Program. Listen to your team The best way to understand how your employees perceive you is to listen to them. This can be supported by work climate surveys and day-to-day comments that arise in the organization. When discussing the EVP with your team, you can ask questions such as: What attracted you to work with us? Do you think this company has a good corporate culture? Why? What do you like most about working at this company? What are the aspects that you can only find in this company? Which of the organization’s values do you identify with? What would you change to improve our corporate culture? The answers to these questions, plus the insights you can gather on a day-to-day basis, will give you a starting point for knowing where your EVP stands. In this way, you will be able to start a process of strengthening the positive things and improving those aspects that are not so good. Benchmarking of other companies’ EVP Reviewing what companies in your industry are doing can also give you a lot of valuable information to build or strengthen your EVP. In this research you can focus on observing how companies communicate their EVP, what activities they carry out to promote and reinforce their value proposition, and what response they get from their audience. Additionally, you will be able to review your organization’s strengths and weaknesses compared to the EVPs in your sector, so you will see more clearly how you stand out from the rest. Finally, remember that when it comes to attracting talent, organizations in your industry become competitors to find the best professionals. This is why understanding what they do and how they do it is very important to develop strategies that differentiate you and boost your EVP. Strengthen the EVP by taking into account the candidates you want to attract. Once you are clear about your team’s perceptions and what companies in your industry are doing, you will have a clearer picture of how to strengthen your EVP. When defining your value proposition, remember to take into account the type of employee you want to have in order to focus the EVP on the possible needs and aspirations they may have for your organization. Additionally, you must take into account that each profile has different aspirations, so the EVP may change, so do not forget aspects such as age, work experience and cultural characteristics of the candidates to whom you want to address. In turn, specialized recruiting companies such as TalentFY can guide you in the proper use of EVP to connect with the best candidates, especially in profiles that are not easy to find. This is how the EVP, Employee Value Program, is a great tool that will allow you to attract and retain the best talent for your company. Try TalentFY in a Live Demo Try our recruiting platform without compromise. And if it doesn’t work for you, YOU DON’T PAY No small print. 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Halo effect Horn effect How to prevent them from affecting your recruitment

Halo and Horn Effect in Human Resources

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The Halo and Horn effects are cognitive biases with which we prejudge a person with a positive or negative approach without knowing it. These terms are not new, the American psychologist Edward Thorndike introduced them in the article “A Constant Error in Psychological Ratings” in 1920, to explain how a first image in front of a person can change. how we perceive it and how we judge it, thus confirming that human beings are not objective. In this blog we will tell you what these terms refer to in the Human Resources area and how to manage them so that they do not affect your selection process. It refers to the bias with which we judge a person positively, thus affecting our perception of him/her and conditioning his/her actions to the field of the positive. This can be seen in the phases of the selection process, for example, in the interviews. There, recruiters are likely to be swayed by this effect if they do not remain partial to the applicant’s good image. Thus, some of the problems that the Halo effect can bring to the selection process are: Lack of process credibility Wrong candidate selection Impediment to recognize the candidate’s skills to be strengthened Difficulty in giving good feedback, there is always something that can be improved. In turn, in the corporate culture, the Halo effect can translate into favoritism that leads to team frustration and a poor perception of management. Horn Effect in Human Resources Contrary to the Halo effect, when we talk about the Horn effect we attribute negative judgments about a person without really knowing him or her. It’s that typical phrase ‘I don’t know why, but I don’t like this person’. This effect is also very damaging to the selection process and at the same time becomes a challenge for the HR team, given the possibility of misjudging a good candidate. Some of the main problems that this effect can cause are: Lose a good candidate Lack of professionalism in providing feedback to unsuccessful candidates Affect the image of the organization. How to avoid Halo and Horn effects affecting recruiting? 1. Prioritizes neutrality For this you should be aware that we can all be victims of the Halo and Horn effects, so you should ask whether the impression you have of the candidate is neutral or whether it is biased by your own prejudices. This is not a simple exercise because we must do a work of self-analysis and reflection, but it is necessary for the process to be impartial. The key is not to get carried away by emotions, question our judgment and always think about being impartial. 2. Prepare for interviews It is vital that our interviews are structured according to what we need to know about the candidate. In this way we will have a clear idea of what to rate and under what parameters, reducing the risk of making wrong value judgments. We always say that the first impression is the one that counts, and while it is relevant, it is not everything. Therefore, we must be careful not to be misled by false impressions that distort our assessment. Here are 4 steps that can help you conduct an interview as objectively as possible. Be very clear about the skills required for the job. Classify these skills according to the level of importance Devise an interview that analyzes the past performance of candidates in the face of challenges they will find again in the new position. Create a scoring system to then objectively compare candidates At the end of the process and with the data on the table, we will be able to provide our criteria and experience to decide which is the best candidate. 3. Get a second opinion When selecting a candidate it is always best to involve more than one person. In this way we will have more than one trial when evaluating applicants and choosing a candidate. It is important that the other person is also clear that we require an impartial opinion that favors the objectivity of the selection process. Bonus: Non verbal communication Knowing how to read the candidate’s non-verbal language will help you to know him better and understand his emotions at the time of the interview. If you want to know how to do it, we recommend you read our article Nonverbal language: What types there are and how to analyze them in an interview. In short, these effects confirm that people are not objective. We will always have biases on different topics, so it is important to recognize them in order to set them aside and avoid biases in a recruitment process for new talent. This, along with a good preparation of the selection process will make your evaluation much more neutral. Try TalentFY in a Live Demo Try our recruiting platform without compromise. And if it doesn’t work for you, YOU DON’T PAY No small print. Schedule Demo Join our News Subscribe and receive our most exclusive content and news every month directly in your inbox.