Investing to Win Talent | Boston Consulting Group

As workers continue to re-evaluate whether their organization’s (or potential organization’s) employer value proposition (EVP) aligns with their individual preferences, this 17-page BCG report provides useful insights. It argues why companies should invest in talent by prioritizing EVP improvements that re-recruit current employees and attract new talent through three EVP components: 1) Innovate flexible working models, 2) Embrace digital tools that enable connectivity, and 3) Reimagine diversity, equity, and inclusion (DEI). Based on a Future Forum study conducted over 10k knowledge workers across the US, Australia, Germany, Japan, France, and the UK, slide 8 shows the importance that workers place on ten EVP components. Among the top 5 are: 1) rewards ( pay, benefits, recognition), 2) flexibility, 3) relationships with coworkers, 4) workload, and 5) relationship with one’s manager. While the report mentions that rewards and recognition have risen in importance during the pandemic, it doesn’t say the extent to which it has changed compared to previous years. Regarding flexibility, a recent The Wall Street Journal article noted how many firms are using flexible work arrangements as a perk to poach talented people. Said differently, flexibility has become “the new signing bonus.” Both references have helpful ideas as firms realign their EVPs to employees’ preferences.