Today’s employees and candidates are more diverse than ever in terms of their views, wishes and expectations. What is more, your organisation’s workforce may include permanent and temporary staff as well as freelancers or seconded personnel. A People Value Proposition (PVP) helps you to be the ‘Employer of choice for your people of choice’ within that great diversity and variety in the job market. This means you will be the most attractive employer for the target group(s) most interesting to you. Your PVP is a guiding commitment, built on the employees’ preferences, your corporate culture and strategy, your HR efforts and your employee benefits package.
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Attractive employer, but not necessarily to everyone
The relationship between an employer and an employee is essentially reciprocal: ‘You provide us with your talent, dedication and energy, in return for which we provide you with the rewards you value’. What those rewards should look like is what the PVP is all about. By definition, the rewards should be tailored; in any case to the organisation, but frequently also to the department, and often per individual or group of individuals. But the purpose of the People Value Proposition is certainly not to make you as an employer attractive to everyone. On the contrary, the transformation of your workforce may mean, for example, that you will have to adjust your PVP, which some of your employees may dislike. This can also be functional. But the clearer you know who you are looking for, the more sophisticated and attractive to a specific target group your proposition will become.
The proposition focuses on the complex of factors you face as an organisation and as an employer. It’s about who you are, what you offer and what you are asking for. From the employee benefits package (which does not necessarily come first) to the working environment, values, leadership, learning & development, purpose, etc. By differentiating, identifying and specifying, and listening very carefully to your defined target groups, you will arrive at the rewards that match your employees’ needs. And because those rewards are not always necessarily financial, your PVP also helps you to make your HR investments more cost efficient and effective.
Reciprocity becomes measurable
To arrive at the People Value Proposition, we use various tools, including data analysis and preference analyses, with which we process changing value patterns into a differentiated offering, in line with your organisation’s message to your target group(s). And with our People Value Exchange, we make the reciprocity in the transaction between employer and employee explicit, so that it becomes concrete, measurable and therefore manageable.
Well-being
Healthy, engaged and motivated employees are fitter, stay longer and cost less, and have also been found to pose fewer risks within the organisation. So in all respects, it is worth investing seriously in the well-being of your people. Our well-being programme is aimed at ensuring a ‘sustainable workforce’, with employees who are physically healthy, emotionally resilient, mentally focused and spiritually connected, within a culture that allows them to flourish and to be the best version of themselves. This results in an improvement of the well-being and performance of everyone in your organisation.
HR Analytics when staff turnover and absenteeism are high
If your organisation is experiencing a noticeably high staff turnover rate or above-average absenteeism, we can use a number of digital tools for people analytics to analyse the bottlenecks. Our data analysts use statistical methods to do so. Our P&O experts then translate the outcomes into an immediately deployable action plan plus KPIs to track the results of the interventions.
HR transformations, vitality and lifelong learning
After a reorganisation, merger or acquisition, we can help you with the associated large-scale HR transformations. We will support you in thinking about modernising your pension schemes, remuneration structure and bonus schemes. We will also conduct analyses to facilitate equal pay – equal pay, fair pay – and offer advice on sustainable staff employability, well-being and vitality programmes, learning & development and lifelong learning – because health and the right skills are prerequisites for job satisfaction and productivity.
The five aspects of an optimal PVP
Five aspects need to be considered to bring a PVP in line with the organisation’s strategic choices, its employees’ wishes and the budget: the employer, the employees, financial factors, the outside world, and the frameworks in legal, social and tax terms. These aspects will inevitably change over time, and the PVP will change with them. This is because the PVP is a dynamic commitment by the organisation to everyone you need in order to deliver on your workforce strategy.
The five aspects of an optimal PVP
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This is how PwC helps you create a People Value Proposition
- Identifying specific target groups ‘of choice’ and the varying preferences
- Aligning employee preferences, business strategy, organisational culture, employee benefits and HR investment
- Increasing return on HR investment in terms of attraction and retention as well as employees’ performance
- Providing an integrated offering from data analysis to P&O expertise, from strategy to implementation
- Working closely with HR, Finance, Works Council and trade unions
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