The employee-employer relationship is changing due to the impact of technology on how and where works gets done, the changing face of workforce demographics and the continuing globalization of economies.  What has worked in the past to attract, develop and retain employees is being challenged in this new, dynamic employment atmosphere.

What companies need from employees is changing and what employees want from companies is changing. Those companies that figure out the "magic formula" are the ones that will win the talent game, and in so doing, they will beat their competition. This "magic formula" is what will define their "EVP," or employee value proposition.  It is EVP that is at the heart of the employee experience. In order for employers to meet the new expectations of employees, they will need to redesign their EVP to offer not just a job, but an experience that provides rewards and working environments that meets employee demands, particularly those demands of high-value talent. 

Obviously, then, the key is to understand exactly what employees value and how that changes as employees phase through their employment.  Is the list of things that attracts them the same as the list of what keeps them engaged and developing, and how does that compare to what keeps them from leaving?

This global findings report from Willis Towers Watson provides some very interesting insights.

Here is a peek at the drivers that attract employees from the employee's perspective:

  1. Base pay/salary
  2. Job security
  3. Career advancement opportunities
  4. Challenging work
  5. Opportunities to learn new skills
  6. Reputation of the organization as a great place to work
  7. Health care and wellness benefits 

Here is a peek at the drivers that retain employees from the employee's perspective:

  1. Base pay/salary
  2. Career advancement opportunities
  3. Physical work environment
  4. Job security
  5. Ability to manage work-related stress
  6. Opportunities to learn new skills
  7. Relationship with supervisor/manager
  8. Trust/confidence in senior leadership

This report shows that there is a significant percentage of the workforce that is at risk of leaving their organization within the next two years.

Maybe now is the time to look within and better evaluate your current EVP and consider what changes will be needed to keep your talent management program on the right track.  For those of us in global mobility, there is an opportunity to get strategic and help design engaging opportunities where new skills are learned, which can lead to developing the employee's "internal career."  What will those "magic formula" ingredients be that leverage global mobility and add to a company's EVP? Do your existing policies and programs within global mobility add or detract to the desired EVP? Do the partners you outsource to add or detract to your desired EVP?