Sibson can help your organization adopt a more strategic, comprehensive and integrated approach to total rewards that includes financial and non-financial rewards. Under this approach, we prioritize your rewards investments according to the needs and preferences of key talent segments in your organization.
The Employee Value Proposition (EVP) framework is Sibson's cornerstone total rewards strategy. The EVP framework has five elements:
- Compensation: The money employees receive for their work and performance
- Benefits: Indirect compensation including health, retirement and time off
- Work content: The satisfaction employees receive from their work
- Career: The long-term opportunities employees have for development and advancement
- Affiliation: The feeling of belonging employees have toward the organization
Sibson uses research conducted through our Rewards of Work Study to help clients understand their own value proposition, the preferences of their staff and the causes of any gaps between employee and/or organization aspirations and the actual EVP.
Sibson's EVP Approach
- Defining a distinctive EVP: Sibson uses a combination of diagnostic and sensing methods to design a distinctive value proposition for your organization
- Branding: We use leading-edge communications, media, learning and technology approaches to turn your EVP into accurate and compelling images and messages that are consistently reinforced internally and externally
- Identifying strengths and gaps: In order to motivate and retain current employees, a distinctive EVP has to be effective. Sibson measures gaps in the delivery of the EVP, isolates them by employee segment and determines their causes
- Designing and implementing programs to close gaps: Sibson helps clients design and implement programs to close gaps in the EVP and move closer to stated goals