This document summarizes the process of building an employment value proposition (EVP) for a business unit within a company called iiA. Key steps included identifying strategic jobs, surveying employees on important attributes, conducting interviews, reviewing competitors, and getting executive approval to focus on attributes like innovative work, location, stability, and work-life balance. Implementation involves updating recruiting materials, testimonials, email signatures, and onboarding to deliver the EVP. The goal is to promote iiA as a preferred employer and integrate the EVP into day-to-day operations.
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Building An Evp 2010 10 26
1. 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
2. Agenda
• What We Do
• Framing the Business Case
• Building the Strategic Brand
• In-Process Inspection Report
• Questions & Discussion
3. What We Do
We help businesses
measure, evaluate,
and navigate risk
4. 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…
5. 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
6. Foundation Work
• HCI’s Human Capital Strategist Curriculum
• HR Leadership Council Resources
• HC BRidge Framework – Understanding
the business from the business side
7. 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
8. Building the Strategic
Employment Brand
• Segmenting the Jobs
– Becker, Huselid, & Beatty’s
“A-Position Assessment” Tool
– Executive team evaluated all 28 jobs
10. 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”
11. 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
12. 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
13. 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
14. 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
15. 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?
16. 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
17. 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”
18. 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
19. 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
21. 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
22. 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
Welcome! I am happy to see so many faces at such an early hour!
I am Rob Orr and along with my colleagues, Nicola, Garvin, and Tonya, I’ll be speaking to you about a project that began as a result of a professional development effort. While some of you may have downloaded the slides from the conference website, we have a comprehensive workbook for you to use during the presentation to follow along and have a place to take notes.
Let’s start by reviewing the agenda:
First we’ll talk about Verisk Analytics under the first point, “What We Do”
Then within the topic of “Framing the Business Case” we’ll explain how this project was conceptualized and how it got started.
Then we'll walk through the process steps we took in “Building the Strategic Brand”
We’ll tell you where we are now and what our next steps are in the In-Process Inspection Report section
Questions & Discussion
Read from slide: We help businesses measure, evaluate, and navigate risk – We provide data, analytics, and decision support tools to three main industry verticals:
Property & Casualty Insurers
Health Care
Mortgage industry
We also provide risk related tools directly to Risk Managers in a variety of industries and sectors.
Read slide:
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…
I mentioned earlier that this project started out as a result of a professional development program. I was participating in HCI’s Master Human Capital Strategist certification program and part of the requirements for the designation is to do a Practicum to apply the learning to a real world situation. We looked around the organization for an area that would be clearly able to benefit from an effort to focus on Human Capital Strategy.
We identified one business unit, ISO Innovative Analytics, as being both innovative and open to looking at things in new ways. I approached the business unit head with “A Free Offer” to help them maximize the competitive advantage gained by looking at staffing issues through a strategic lens.
The top guy was interested to hear what we had to say, so we learned as much as we could about their business plan and had the opportunity to sit down with him a couple of times. With all the information we collected, and based on the learning that I discuss on the next slide, we developed a business case & detailed project plan. We made our pitch to the Executive team and was able to get buy-in.
The Foundation work included the MHCS curriculum listed on page 6 of the workbook, several HR Leadership Council resources and Boudreau & Ramstad’s book, Beyond HR. Their HC Bridge framework was especially helpful to us to help us understand the business from the business’ perspective. You’ll see the Seven Key Questions the framework poses on Page 7 of the handout.
I’m going to turn it over to Nicola now so that she can give us an overview of our client in this project.
Notes:
Founded January 1, 2005 with a vision to utilize an independent modeling unit within ISO to enhance the value of existing products and services and to develop new analytic products and services based on market needs.
ISO Innovative Analytics (iiA), a unit of Verisk Analytics (VRSK), specializes in applying advanced analytical techniques and data management skills to solve challenging problems related to risk and decision-making in a variety of verticals including P&C insurance, Healthcare, and Mortgage. We combine vast, and often unique and proprietary, data resources with cutting-edge predictive modeling techniques to create the most accurate models in the industry. Our clients use our risk assessment models for competitive gains in their marketing, underwriting and pricing strategies and our fraud detection and audit selection solutions to improve operational efficiencies. Our market position allows us to dedicate unparalleled time and talent to solving the analytic challenges in our target verticals. iiA is an equal opportunity employer.
Strategic:
Quick overview of how we fit within the enterprise. Our projected contribution over the next 3 years or so.
We employ:
Talk about the skillsets, experience, and degrees people bring to bear. What percentage of the population have Masters… PhD.
Shared Services – IS&T, HR, Finance, etc.
I mentioned earlier that the goal was to help the business unit maximize their competitive advantage by looking at staffing issues through a strategic lens. As we were beginning this project, Becker, Huselid, & Beatty published their book, The Differentiated Workforce and it provided us with a tool to help determine which jobs had the greatest strategic impact.
I want to point out that we are talking about JOBS, not people. So let me give you an example based on a company that you all know about, FedEx. A couple of years ago they looked at all their jobs to determine which ones had the greatest likelihood for having an impact, positively or negatively, on the firm’s performance. ASK: Which jobs do you think came up?
As you’ll see in a moment, The “A-Position Assessment” Tool gives you a way to look at each job independently to determine Strategic Impact, Performance Variability, and the impact and scarcity of top talent. We had one of our technical support people create a web based delivery of the tool and asked the executive team to assess all 28 jobs independently.
The tool is reproduced on page 11 and you can see how the questions are segmented to help determine Strategic Impact, Performance Variability, and the impact and scarcity of top talent.
The output of the tool informed the discussion we had with the Executive Team to decide which jobs should get our attention. Nicola mentioned the “shared services” model in effect with this business unit, so many of the important but non-strategic jobs are not within the area. They decided that we should focus on the “A” & “B” positions, those that the assessment identified as having either Possible or Clear Strategic Impact. The list on page 10 is color coded to show you which jobs were identified as “strategic”