How employee value propositions help retain talent

TRIMEDX Chief Human Resources and Diversity Officer Dawn Griffin recently contributed articles to 24x7 Magazine (May 31), TechPoint (June 4), and Healthcare Business Today (June 13) about how organizations can attract and retain talent by creating a meaningful employee value proposition.

Employees are integral to the success of any organization. They spark innovation, drive productivity, and bring excellence to every client experience. To attract and retain talent for the long term, organizations should intentionally create an environment designed to empower associates, support their growth and advancement, and recognize and reward their continuous improvement.

TRIMEDX, which has been recognized as one of the most engaged workplaces in the country and one of the most inspiring workplaces in North America, has found an effective way to create this environment is through an employee value proposition (EVP). This EVP clearly demonstrates the company’s commitment to providing associates with ongoing training, upskilling, progression in the workplace, inclusion and belonging, and other benefits that reinforce a rich culture of opportunity and support.

Employee Value Propositions (EVP) Define Company Culture

An EVP should clearly define the pillars of a company culture and drive an organization’s decisions. For example, TRIMEDX focuses on five pillars: people, rewards, organization, work, and opportunities. Our company strives to ensure employees are recognized for their excellent work, able to grow within the company, feel part of an inclusive team, and are empowered to do their job. These specific outcomes make up our mission, and we hope employees and candidates will choose TRIMEDX based on its impact, leadership, and culture.

Harvard University’s Division of Continuing Education (DCE) has found people working in companies with a positive corporate culture are “happier, healthier, more productive, and less likely to leave.” In addition, research shows companies recognized for their positive cultures see higher average annual returns.

While many companies may claim to prioritize a healthy culture, an EVP clearly states how an organization will engage employees and achieve specific outcomes. Establishing an EVP informs employees and job candidates about the type of culture it aspires to create, while also giving company leaders clarity about what to focus on and work toward. If a potential program or policy doesn’t align with the EVP, it should not move forward.

According to Harvard DCE, workplace culture is a “commitment that every person in the organization, including senior leadership, will model their behavior to support those values.”

To craft a successful EVP, companies should look at engagement data, turnover data, and any employee feedback available. Leaders should take a deep dive into why workers leave, why they stay, and the overall philosophy of the organization. This will provide insight into the organization’s strengths and opportunities, which will help leaders narrow down key elements or pillars in creating or enhancing an EVP.

Opportunities For Growth Are Key

Growth prospects—including professional development, training, and upskilling—are an essential part of any EVP. No matter what stage of their career an employee is currently in, organizations should offer opportunities to grow professionally.

Millennials, the largest generation in the labor workforce, have a reputation for job-hopping more than any other generation. While they are most likely to switch jobs for better opportunities, Gallup has found they are also the least engaged generation in the workplace. In addition, Deloitte has found employers should develop “robust training and leadership programs, with a real and tangible focus on diversity” to attract and retain Gen Z workers. These findings illustrate the importance of creating an engaging workplace with opportunities for growth. An EVP is a purposeful, intentional way to drive engagement among associates of all career levels. If associates can see appealing opportunities in their current workplace, they’ll be less likely to look for advancement elsewhere.

While these principles apply across industries, TRIMEDX prioritizes employee growth to stand out in the healthcare technology management (HTM) field. A recent 24×7 Magazine survey of HTM professionals found only 12% of respondents believed they had “excellent” opportunities for a promotion at their current workplace, which could incentivize them to look for employment elsewhere.

Empower Employees to Succeed

Empowerment is another critical aspect of an effective EVP. Employees need to be empowered to do their job well. While the first step of empowerment is ensuring workers have the knowledge, tools, skills, and support to complete their tasks properly–it’s also about mindfully and intentionally setting up individuals for success.

Leaders should learn about their individual staff members’ strengths and goals because empowerment can look different for everyone. This could mean encouraging employees to work on projects meaningful to them personally; giving them the chance to develop a new skill they’re interested in; giving them opportunities to collaborate with others; or providing them with flexibility.

Flexibility is a major factor in ensuring employee satisfaction. While not every job can be catered to a specific set of preferences, giving at least an element of choice in each role can make people feel more valued, trusted, and engaged. Ultimately, this leads to better performance at work.

Recognizing and rewarding workers when they do their job well is also essential. In any EVP, organizations should outline how they plan to make sure workers know they are valued and appreciated. This helps employees understand the rewards and benefits they’ll be given for achieving their goals and allows them to see a future with the company.

When employees are empowered to do their work, rewarded for excellence, and given opportunities to advance within the company, company success will follow. Last year, an independent study found TRIMEDX was the top clinical engineering provider, with extremely high client satisfaction scores. This achievement is directly attributed to our associate contributions and commitment to excellence when serving clients.

Continue to Listen and Adjust

In the same way companies should listen to employees when creating an EVP, it’s vital to listen to them and make sure it’s working after implementation. If one of the EVP goals is making people feel part of an inclusive team, employers must ask their workers if that’s the case. A 2023 AAMI report focused on retaining HTM workers said, “Culture is key, and management staff needs to provide employees with a voice.”

One of the best ways to give employees a voice when creating and maintaining EVPs is through engagement surveys. Ask for unfiltered opinions and perspectives from all members of the organization. If organizations aren’t seeing results that align with the EVP, they can then apply employee feedback to adjust or make improvements to better achieve its goals.

From design to implementation, and then continuous improvement, employee wellbeing should be at the center of any employee value proposition to achieve the desired outcomes for the organization and its people. Responding to employee needs and providing them with growth and engagement opportunities leads to a stronger workforce and a company culture the employees understand, embrace, and appreciate.