Employee Value Proposition: Is it beneficial to your hotel?
An EVP can be potentially one of the best ways to improve the amount of commitment to your brand that you receive from new and old employees, increasing their performance and overall job satisfaction. Also, having such a fantastic structure could help you attract top end employees.
But what exactly is an EVP and how can it be of help to your hotel?
EVP, in essence, stands for Employee Value Proposition, something which measures the exact balance between how much an employee gives to the hotel, in return for what they receive. Doing this allows you to measure just how happy they are in their jobs, displaying how well they perform.
The major challenge for hotels is firstly finding and then retaining fantastic employees. Logically, you want the best team member possible running your establishment, as this will give a major boost to customer service, sales and overall recommendations and performance. If you have a team full of motivated workers, a fantastic workset is sure to follow. You want your team members to hold knowledge and experience, as this gives you great amounts of diversity in your business.
What you must understand is, whilst a team member may be currently happy in their job, if they were to receive a separate offer from another business that would give them higher benefits and base salary, they must weigh up the chances and do what’s best for their future. So, following on from this, how can you implement an EVP system to counter act offers from competitors?
EVP is itself a way of comparing reward and benefit, with job performance and reward both being viewed in an equal ground. It shows your employees why improving their job performance will give them higher benefits in future. Here’s a list of what benefits the business can reap from implementing your own version of EVP:
- Have a positive impact on the application process for new employees
- Improve the overall commitment of new employees
- Increase job performance from your employees point of view
- Significantly reduce problems in the workplace
- Increasing the likelihood of staff brand advocation
Whilst all of these sound incredibly appealing to your brand, you must first implement an effective EVP into your business. Here are a few ideas into what you can do:
- Give your employees better career opportunities available to them, whilst increasing the reputation of the company
- Concentrate on the attributes of your employees that give them what they crave from their job
- Must be displaying in a way that will please the audience
- Have a consistent performance of job satisfaction from your employees through brand initiatives
What benefits can you offer to your workers as part of the EVP? Here are a few ideas below:
- A high level of job security
- Development opportunities
- Training programs conducted in house
- Better working conditions
- Flexy hours
- Team dynamics
Essentially, this will increase brand awareness, performance and most important of all: loyalty!