Building An Evp 2010 10 26

Building an EVP for a Differentiated Workforce:

An in-progress strategic staffing “workbench project”

Rob Orr, SPHR, MHCS

Nicola Hayward, SPHR

Garvin Whitfield, PHR

Tonya Weston

November 2, 8:00 AM, Garfield Room

2010 Garden State Council SHRM Conference – Ocean Place Resort & Spa, Long Branch, NJ

Agenda

• What We Do

• Framing the Business Case

• Building the Strategic Brand

• In-Process Inspection Report

• Questions & Discussion

What We Do

We help businesses

measure, evaluate,

and navigate risk

Employment Value Proposition

• The value or benefit an employee obtains through employment – The value of an organization’s

employment experience

• All companies have an EVP– Some actively manage it– Most don’t…

Framing the Business Case• Creating the Opportunity

– Targeting a specific business unit; one of the Verisk “Growth Pistons”

– Connecting with the Business Unit Head

• Raising the Case– Learned about the business plan and strategy– Developed a business case & detailed

project plan– Got buy-in from business unit Executive Team

Foundation Work

• HCI’s Human Capital Strategist Curriculum

• HR Leadership Council Resources

• HC BRidge Framework – Understanding the business from the business side

Who is iiA?

• Products: Cutting edge risk and decision analytics

• Industries: P&C Insurance, Healthcare, and Mortgage

• Strategic position: Growth piston, Center of analytics expertise for the Verisk Companies

• We employ: Statisticians, Data Managers, Actuaries, Product Managers, IS&T experts

Building the Strategic Employment Brand

• Segmenting the Jobs– Becker, Huselid, & Beatty’s

“A-Position Assessment” Tool– Executive team evaluated all 28 jobs

The Tool

Selecting the Strategic Jobs

• Output of “A-Position Assessment” Tool was the basis of discussion with the Executive Team

• Executive Team selected the positions rated “A” & “B”

Developing the EVP: Survey• Web-based survey of the organization’s

environment concerning”– The Opportunity– The Rewards– The Work– The Organization– The People

• 12 factors influencing acceptance of offer• 40 attributes – importance & delivery

Sample EVP Attributes

• Respect - The degree of respect that the organization shows employees

• ‘Great Employer’ Recognition - Whether or not the organization’s reputation as an employer has been rated by a third party organization

• Innovative Work - The opportunity provided by the job to work on innovative, ‘leading edge’ projects

Survey Results

• Top Factors Influencing Acceptance of Employment Offer:– Personal/Professional Growth– Nature of Work– Technical Challenge

• 12 Attributes rose to the top in importance

• Delivered quantitative report to the executive team

Deep Dive: Employees

• Follow-up interviews with a small sample to get qualitative data– What does the attribute mean to you?– Is it a strength of the organization?– What can we do to make it stronger?

• This rounded out the view to help the Executive Team select the ‘vital few’ EVP attributes to focus upon

Deep Dive: External Talent

• Finalists– What were the top three things that were most

attractive about iiA as a potential employer?

• “Lost” Talent– Why did you decline the offer?– What were the top three factors that led you to

accept the other offer?– Are you satisfied with your current job?– Would you be interested in staying in touch?

Talent Competitor Review

• Identified who the Business Unit competes with for talent– Current employee’s previous companies– Former employees’ current companies– Companies we lost candidates to– Companies in a similar niche

• Focus is on the demographic that fills our strategically important jobs

Executive Team EVP Decision Making

• Briefing Packet– iiA EVP Decision Matrix– iiA Strategy and Strategic Staffing Requirements – iiA EVP Themes– iiA EVP Survey Comments Report– iiA Competitor Employee Value Propositions– White Paper on “Shrinking Talent Pools”

EVP Decision Matrix

Potential EVP Attribute Segmented

Delivery Score

Strength –Interviews

Current Segmented

ee’s

Relevance to Strategic

Objectives

Opportunity for Competitor Differentiation

Implementation Cost

Innovative Work 4.22 High High High Low

Location 4.22 High Low High (?) Low

Coworker Quality 4.05 High High High Medium

Stability 67%

“Just Right” High High High Medium

Ethics/Integrity 89%

“Just Right” High High Low Low

Work/Life Balance 78%

“Just Right” High Medium Medium Low

Personal/Professional Growth*

NA* Medium High High Low -Medium

Job-Interests Aligned 4 Medium High High Medium

Level of Impact 3.94 Medium High High Medium

Compensation 3.94 Medium Medium Medium High

Future Career Opportunity

3.56 Low Medium Medium

High

Meritocracy 3.83 Low Medium Medium High

Strategic Employment Branding

• Meet with Corporate Marketing to develop an employment brand that incorporates the EVP.  Our challenge was to– Create a communication program using EVP

attribute to promote iiA a preferred employer– Integrate EVP messages into the day-to-day

activities of the business unit– Make sure the employment brand is consistent with

the existing business unit/product branding

EVP Building Blocks

• Innovative Work

• Location

• Stability

• Work/Life Balance

Implementing the Strategic Recruiting Brand

• Develop standard “overview language” for iiA postings

• Posting the iiA Strategic EVP on their “micro-site” that currently exists

• Create a new “Testimonial Page” on the micro-site

• Employee e-mail signature campaign• Develop a flyer for trade show events

• Enhance the Employee Referral Program for iiA jobs

Next Steps

• Establish guidelines to ensure a positive candidate experience consistent with the Brand messaging through all the touch points in the staffing process

• Establish an “onboarding program” to ensure that the EVP is delivered

• Monitor and measure the impact of the iiA Employment Brand over time

Questions?