The video below pretty much covers the idea of employee value preposition. In today's work environment when we seek the best talent we must promote an attractive EVP. Due to the recession and technological advancement the world of work is changing rapidly, a disruptive work environment is in place where employee's no longer rely on employer. They've become self earners and they decide what, when and how they work. over the decade many of the jobs has been taken over by the contingent workforce. Many researches and studies conclude many more traditional nine to five jobs will be replaced in no time. The change has benefited both employer and employee.
Source: www.talentlyft.com/
In recent years Employee Value Preposition has caught notable attraction and given due importance in acquiring competitive talents. The question is what does the gig economy adds to EVP? Employment rights of the gig workers are played out in courts across the globe. Limitations by laws are exploited by many employers. Few cases have been concluded that gig workers are entitled to basic employment rights such as protection from discrimination, minimum wage, paid holidays etc.
Talent sourcing can be done through technological means on a fast pace, but there may still be need for improvement in identifying skill suitability and cultural fit for the company. Employers and HR directors are now with the task from "need to hire an employee" to "need to complete a task". To accumulate from these talents while committing to keep up with the competition and finding the edge is critical to organization's success. There is a huge difference in reward and benefits given to permanent and contingent workers (Malin, 2018). with the growing diversity of the workforce and the need to leverage different types of talent, we must broaden our approaches to rewards to think about engaging and attracting these different types of employees. It's time to do away with a one-size-fits-all model of rewards and, instead bring increased professionalization to the rewards element of the EVP.
Economists, politicians and business leaders all recognize that the successful growth of the gig economy could have many tangible economic benefits, including raising labor force participation, providing opportunities for the unemployed and potentially even a much-needed boost to labor productivity.Managing a talent pool and developing an employee value proposition that works across a blend of permanent and portfolio workers requires all people management processes to adapt. Messages and policies must be defined for specific groups through audience segmentation delivered alongside, overall brand messaging.
References:
Malin, M. (2018). Protecting Platform Workers in the Gig Economy. Indiana Law Review, 51(2), pp.377-411.
Wald, J. (2019). It's Time for Your Company to Develop an Employer Value Proposition for Freelancers. [online] Forbes.com. Available at: https://www.forbes.com/sites/waldleventhal/2019/02/26/its-time-your-company-develop-employer-value-proposition-freelancers/#6e345d1934d6 [Accessed 7 May 2019].
Recruiting and Hiring Resources. (2019). What is Employee Value Proposition (EVP)?. [online] Available at: https://www.talentlyft.com/en/resources/what-is-employee-value-proposition-evp [Accessed 6 May 2019].
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