Question: What drives your employees to come to the office these days?
These days, when bringing employees back to the office is turning into a real challenge.
Especially if you want to maintain a decent level of face-to-face collaboration, but without compromising the autonomy in choosing their work on-site days.
Answer: A compelling workplace value proposition.
This is the reason employees (still) come to the office.
And in this article, you’ll learn exactly:
- What a workplace value proposition is
- Why it matters (a lot) for your business success
- How to create one that’ll improve productivity in your organization and turn it into THE place to work in
Let’s dive right in…
TLDR:
- A workplace value proposition encompasses the benefits, incentives, interactions, and culture in the workplace, representing the tangible value provided to employees in a physical office setting.
- A strong WVP attracts top talent, retains valuable employees, enhances company reputation, and boosts overall business performance and growth.
- An effective WVP includes positive organizational culture, competitive compensation, career growth opportunities, work-life balance, job security, a supportive environment, and a sense of purpose and impact.
- To develop a strong WVP you’ll need to first understand employee needs, then analyze competitors, define core its components, communicate them consistently, and review and update regularly to maintain it relevant and effective.
Defining Workplace Value Proposition (WVP)
Workplace value proposition is the sum of benefits, interactions, incentives, and elements of organizational culture that employees experience in the physical workspace.
In short, it’s the meaningful and measurable value your work environment offers your employees.
The WHY behind wanting to come to work in the physical office.
Why Workplace Value Proposition Is Critical for Success
A compelling employer value proposition has the potential to set you apart from your competitors in the quest for the best talent in your niche.
Furthermore, an effective WPV – aimed at creating a positive work environment and supporting everyone to perform their best in their roles – helps you retain your most valuable employees.
It keeps them motivated.
But let’s zoom in on the 4 key reasons why your workplace value prop is critical for your company’s success:
Attracting and Retaining Top Talent
The stats show it:
- a solid reputation can help you attract up to 50% more qualified candidates
- a well-done solid employer branding can help you lower your turnover rate by at least 28%
And when it’s the highly qualified candidates choosing the companies they work for (and not the other way around, most of the time), an appealing and compelling workplace value proposition helps you stand out as THE great (work)place to be at.
Motivating Employees to Return to the Office
Compelling employer value propositions are made of all the reasons that make office worth the commute to work.
When it comes to the physical space itself, these reasons are:
- A value-oriented physical work space: people will (still) come to the office if they can find a work environment there that makes their well-being a priority and helps them be their most productive versions of themselves
- A both comfortable and flexible workspace, that adapts to employees’ changing needs and types of work they’re doing in the physical office
- A sustainable space that promotes environment-friendly practices
Enhancing Company Reputation
A solid workplace value proposition strengthens your reputation.
With nearly 70% of job seekers rejecting a company with a bad reputation – even with the risk of remaining unemployed – you’ll want to constantly improve yours.
And a solid WVP is one of the key factors that will impact, positively, your company reputation.
Driving Business Performance and Growth
A strong WVP can increase employee engagement scores by up to 40%.
And highly engaged employees – who feel valued and supported in the value-oriented office environment you create for them – will perform better.
This is reflected in the customer satisfaction, operational efficiency, level of innovation, and, overall, organizational performance and growth.
The Interconnection Between Employer Branding and WVP
Employer value proposition and employer branding go hand in hand.
And one impacts the other.
Which can be a good thing. Or a bad thing, if your employer value proposition is a weak one.
A strong employer brand helps you show what’s unique about your company and position it as THE place to work in.
While a compelling workplace value proposition is the value that future employees can expect to get from that work environment.
Together they’ll help you attract and retain top talent.
Common Misconceptions About Workplace Value Proposition
If you want to build a solid workplace value proposition you also need to be aware of the main myths surrounding it.
Here are the 4 most widely influential ones:
"It’s All About the Money"
Why is this a misconception?
Because it doesn’t portray the workplace value proposition as a holistic approach.
And it overlooks other key factors that go into a WVP that’s compelling enough for employees.
Other key factors like:
- Growth opportunities
- Supportive work environment
- Work-life balance
"It's Only for Recruitment"
Strong workplace value proposition benefits help you attract top talent and retain your best employees.
As a workplace value proposition is the reason for top talent to choose your company over others in the first place.
But it’s also the reason why employees stick around long-term.
It’s what motivates them and keeps them committed to your company's values and culture.
"One Size Fits All"
If you embrace this misconception, you automatically ignore the different needs and preferences of your employees.
Which are determined by their specific job roles, individual aspirations, demographics, etc.
Instead, adapting your workplace value proposition to different groups of employees in your company will make it more effective.
It'll resonate with them better.
Making it more effective for both attracting and retaining the best people in your company.
Key Components of an Effective Workplace Value Proposition
What goes into an effective WVP strategy?
“Collaboration, connection, creativity, and culture” we could say.
But let’s get more specific.
Here are the 10 key aspects employees expect to experience in the workplace:
Positive Organizational Culture
Mutual respect, clear communication, shared values… These are the elements of a healthy organizational culture that makes for a supportive work environment.
One that people look forward to.
And when employees share your company’s values and mission, they stay motivated and committed to doing their best work.
Competitive Compensation and Benefits
Yes, it’s not all about the money.
Yet, you cannot overlook the aspect of financial benefits – retirement plans, health insurance, other perks – and competitive compensation that will make your current employees feel valued for their commitment to your company’s success.
… And which will turn your organization into “THE place to work” for the top talent you try to bring into the company.
Career Development and Growth Opportunities
Employees expect to find a culture of continuous improvement.
And since it’s more of a “value space” that you’re trying to put together, this is one of the values you’ll want to offer your employees: your commitment, as a company, to their long-term success.
It includes mentorship programs, training programs, and clear career paths.
Work-Life Balance
Remote work options, flexible work arrangements, and support for personal commitments are just some examples of specific actions you can take to support a better work-life balance for your employees.
And to keep them less stressed, more satisfied with their work, and performing at their best capacity in their roles.
A healthy work-life balance is an ever-growing expectation coming from them.
And one of the key WHY’s for them to:
- choose your company in the first place
- want to continue to come to work on-site and remain committed to collaborating to your organization’s success in the long run.
Job Security and Stability
This is another component of a solid workplace value proposition.
When employees feel secure in their jobs and can see a clear and long-term future with the company, they perform better in their roles.
They’re more engaged and loyal to the company.
And communicating, clearly, your company’s long-term plans builds trust and that sense of predictability and stability that employees expect to experience in their work environment.
Supportive Work Environment
How does such a work environment look like?
It’s one where employees:
- are encouraged to give constructive feedback
- have easy access to the resources they need to do their best work
- are encouraged to collaborate; they trust and feel supported by their managers and colleagues
This is the type of supportive work environment that people thrive in.
THE place you’ll want to work in.
Purpose and Impact
You’ll want to make your employees feel that their work matters. To help them understand exactly how their contribution impacts the company’s success.
To see the bigger picture, that is.
How? By aligning their job roles to the company’s mission and values.
It’s then that they grow (even) more motivated and committed to doing their best work.
Company Reputation
Establishing your company as an innovative one and being known for your ethical practices and a high level of employee satisfaction is what will attract the talent you’re looking for and keep your best employees loyal.
And committed long-term.
That’s why building and keeping a positive reputation is key for maintaining a compelling employee value proposition.
How to Develop a Compelling Workplace Value Proposition
Now that you know what are the 10 key elements that go into a robust employer value proposition, let’s see how you can build one that’s:
- compelling enough
- uniquely yours and perfectly adapted to your employees’ needs and preferences
Understand Your Employees
Don’t fall for the “one size fits all” misconception about building a workplace value proposition.
If you want to put together a compelling WVP, you’ll need to start by knowing what your employees’ actual needs and expectations are.
You’ll want to run surveys and interviews to collect feedback from them.
Once you know what they value and what motivates them the most, you’ll be able to tailor your workplace value proposition to meet those exact expectations.
Analyze Competitors
What makes you the best choice for the highly qualified candidates you’re trying to attract?
To answer yourself that, you first need to analyze your competitors:
- What benefits and special perks do they offer their employees?
- What’s the work environment there like?
- What learning and career development opportunities do they offer?
This comparative analysis will help you determine:
- any gaps in their offerings, that you could fill in
- any gaps in your own proposition, that you could address
… to build a uniquely yours and compelling enough WVP that’ll help you reel in and keep the best talent.
Define Core Components
Why? Because you’ll want to align those WVP components – career growth opportunities, competitive salaries and benefits, a positive work environment – with your company’s mission and values.
And to create a cohesive and holistic offering for your employees. Both future and current ones.
Communicate Clearly and Consistently
Because yes, developing a compelling employer value proposition means:
- Communicating – regularly and consistently – the benefits and opportunities you offer
- Making sure everyone is aware of them and fully understands them
By communicating them regularly via social media, company meetings, and employee newsletters, you reinforce your commitment to keeping your employees happy and motivated.
Regularly Review and Update
Because a compelling WVP today may grow weak(er) or simply irrelevant over time.
You’ll want to:
- Gather feedback from your employees, constantly, as their needs might change
- Keep an eye on your competitors, on what they add to their own offerings
- Keep up to date with emerging industry trends
Challenges in Creating a Strong WVP and How to Overcome Them
Developing a robust workplace value proposition won’t be without challenges.
Here are the 4 most common ones and how to address them:
Balancing Diverse Employee Needs and Preferences
Yes, you do want to make your workplace value proposition uniquely yours.
And perfectly tailored to your employees’ different needs.
But that spectrum of needs and preferences can be challengingly wide.
How do you create a WVP strategy that meets the expectations of all your groups of employees?
You gather their feedback. Constantly. Regularly.
And you get your employees involved in decision-making processes to ensure your value propositions serve their needs and expectations perfectly.
Gaining Leadership Buy-In
Building a strong workplace value proposition is just one of the priorities on C-suite’s agenda.
And maybe not even at the top of their agenda…
So, how do you gain leadership buy-in to support your efforts in developing a robust WVP?
Here are 3 ways to secure executive support:
- Align your proposition with the organization’s strategic goals
- Back up your case with powerful data and case studies
- Demonstrate the main benefits of a compelling workplace value proposition: attracting the right talent, better retention, and higher productivity
Maintaining Consistency in Communication
Overcoming this challenge starts with a plan.
A comprehensive communication plan that outlines all the regular updates to be made across different channels.
This way, you make sure that all managers and leaders convey the same message and reinforce the same components of the workplace value proposition: same values, mission, and unique offerings.
And with 33% of employees stating they don’t know what their companies’ values are and what makes them stand out from their competitors, communicating a consistent message across all channels becomes essential.
As it builds clarity. And trust.
Keeping the WVP Relevant
Not only that you’ll need to balance diverse employee needs and preferences.
You’ll need to balance evolving employee (and market) needs.
How do you address this challenge to keep your employer value proposition relevant in the long run?
You collect feedback. Constantly. And update your workplace value proposition according to that feedback. Regularly.
You’ll also want to stay proactive and adapt your workplace value proposition to industry changes about to turn into trends.
So that your WVP remains compelling enough for top talent about to enter the job market.
How Technology Influences the Evolution of Workplace Value Propositions
Technology is your best ally in building a robust WVP.
As a workplace experience software in particular helps you deliver that positive work experience and set that supportive work environment stated in your WVP.
Here’s how:
- it boosts operational efficiency: employees get their work done faster, freeing up time for more meaningful and rewarding tasks while keeping a healthy work-life balance
- it increases employees’ autonomy: this type of tech enables them to book their own workstations, quick and easy, and to personalize them to fit their needs and preferences
- it provides facility and operations managers with powerful analytics: they can use it to make informed decisions and constantly optimize the workspace so that it’s best adapted to employees’ evolving needs
Like Yarooms, for instance, that helps manage every aspect of workplace experience:
- It offers your employees the right tools to improve employees’ interaction with the office space and with each other: wayfinding, hybrid work planning, desk booking, etc.
- It gives facility managers access to workplace analytics to optimize space utilization
- It enables flexibility and employee autonomy through automated workspace booking: your employees get to plan their “days in the office” from A to Z. From booking their (favorite) parking lots to reserving desks close to their favorite colleagues’ desks.
Measuring the Impact of Your Workplace Value Proposition
You’ve developed and delivered your workplace value proposition.
But how do you know it’s compelling enough?
How do you measure its impact?
Here are 2 simple and effective ways to evaluate your WVP’s success:
- You track these 3 metrics: job satisfaction scores, recruitment success, and retention rates
- You conduct surveys, regularly, and collect employee feedback to assess their level of engagement
It’s this type of data and feedback that helps you evaluate your WVP’s impact.
… And it determines the necessary updates you might need to make to your employee value proposition.
Conclusion: The Enduring Importance of a Solid Workplace Value Proposition
A robust employer value proposition helps you attract the most qualified candidates and retain your best employees.
It’s what differentiates your company from its competitors.
It’s what makes new employees want to work there, and what fosters loyalty among your current employees.
And this makes your WVP much too valuable to (ever) stop improving it.
