that are received by employees in return for their performance at the workplace, but more than that, it is integral to delivering a culture through the company’s values brought to life through everyday behaviours. Just as when evaluating an externally facing service brand, an EVP needs to create, elevate and campaign on a clear point of meaningful difference. A good EVP should be ownable and possess the ability to excite and motivate. It must be able to encourage discretionary effort and create an enduring sense of shared purpose and belonging. The key to success lies in making sure the EVP goes the extra mile by actively incorporating it into every aspect of an organisation’s operations, decisionmaking processes and everyday behaviours to ensure it is embedded in the culture. When physical proximity is no longer a given, an organisation’s values and beliefs must work harder to keep employees connected, motivated and engaged. This is where defining a clear and mutually beneficial value exchange can have an outsized impact on an EVP’s effectiveness. 36 LAWYER MONTHLY SEPTEMBER 2023 Simply put, a value exchange is the unique set of benefits that an employee receives in return for the skills, capabilities and experience they bring to a company. The possibilities here are seemingly limitless and could be customised to suit the needs and values of a specific organisation. The key idea to note is that a value exchange caters to all ages and demographics, because it recognises the importance of values and purpose in their lives. Simplification is Paramount to a Successful EVP To create a tailored and effective EVP, it is crucial to avoid a onesize-fits-all approach. Companies should understand the importance of segmenting their workforce based on factors such as age, gender, geographical location and individual needs. This allows for a more personalised and targeted EVP that caters to the varying needs of employees, ultimately enhancing their engagement and commitment to the organisation. When physical proximity is no longer a given, an organisation’s values and beliefs must work harder to keep employees connected, motivated and engaged.
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