Building Employee Value Proposition with People Analytics
We continue to write about all areas touched by People or Human Resources Analytics. As we get into it, we see that all doors lead to data-based mechanisms in human management. Our topic this month is the relationship between EVP and HR Analytics.
First of all, what is EVP?
Employee Value Proposition (EVP) is company-specific benefits that an employee receives in exchange for the skills, abilities, and experience they provide to a company. There are many different ways to understand these benefits. Employee experience surveys, exit interview outputs, interviews with candidates, and common characteristics of candidates provide companies insights from employees’ eyes. This concept, which was first introduced to the literature by Simon Barrow in 1996, explains the brand value of a company and the value it gives to its employees.
Why is EVP important?
So what should be considered when creating an effective and sustainable EVP?
Yes but, how do we do it?
We have data for all of these topics, but if we don’t have the methods to analyze that data, it’s hard to get out of the way. This study, which requires multivariate and layered analysis, often does not find the place it deserves in EVP creation processes.
At this point, HR analytics comes into play. HR analytics, which is a technology that makes all the inferences hidden in the data and presents these inferences to you both visually and in writing, emerges as a technology that sheds light on the future of companies today, where data-based decision-making has become mandatory. HR analytics, an indispensable guide in creating and following a sustainable EVP, has already entered the agenda in developed countries. To not lag behind the world, continue your business with the right people, strengthen your EVP with a better employee experience, step into the world of HR analytics before it’s too late, and turn your data into action as soon as possible.