Why Your Focus on Money Isn't Working: Rethinking Employee Value Propositions

Are you finding that your company's current employee value proposition (EVP) isn't cutting it? Are you noticing a decrease in prospective applicants and an increase in the number of top talent leaving for other organizations? Attracting and retaining talented professionals is essential to business success, so it may be time to reevaluate your EVP. With thoughtful design and strategy, you can create an EVP that aligns with organizational objectives, attracts more qualified candidates - both experienced professionals as well as recent graduates - boosts overall employee morale, increases retention rates on all levels of staff, reduces recruitment costs, strengthens employer branding efforts and more.

In this "TED" like talk Holly Novak, the CPO of Jack Henry encourages you to rethinking your company's EVP to gain the competitive edge.

Prefer to read?  Here is a machine generated transcript:...

Happy New Year!

I wanted to get a quick email and explainer video out about HR Inner Circle Group schedule for 2023.

Please note meetings are now at noon central on BOTH the:

 2nd Thur of each month

and

3rd Friday of each month

 Please take a minute to watch the video and log into the LMS add the calendar links to you schedule to save the time and prioritize your personal development and network in the new year!

How is HR like the medical profession and how is it so different? 

It is the same in the way that there are so many different specialties in each field.

It is SO different because many execs don’t understand the depth of specialization it takes to pull off great employee experiences, attract amazing talent and develop compelling leaders… 

If you have someone you love get cancer, you would insist they go to an oncologist vs. just staying with your GP.

If you want to compete for the best talent, mastering all the centers of excellence in human capital is critical.

Challenge # 1: CHROs need to educating and painting this vision of excellence for other business leaders

But not all companies have all these resources 

Challenge # 2:  CEOs can still win this talent revolution by leverage resources like adding CHROs to your board or advisory board - ping me if you want to hear about my personal experience and...

You have 3 options to consume:

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3. Members see transcript to download in members area (search Melissa Goebel).

New to working with a compensation committee? If you try to research, you won’t find much information readily available. You can easily find information on what a compensation committee does, how they work and the roles of the members but not a lot on how to work effectively with them as a CHRO.

Cindy Lu talks with Melissa Goebel about her experience with a compensation committee. Melissa shares stores of the mistakes she made along the way and what she learned to be successful. In this session, Melissa talks about where to focus efforts and how to think about the board members’ experiences. Keys to success focus on communication, managing expectations and partnerships with the Chair, committee members, CEO, CFO and external compensation partner.

Melissa’s advice on where to learn about working with...

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3. Download PDF to read later (members can check LMS for your copy): 

Read CHRO Quick Hit Summary FULL paper below...

 The great hybrid workplace experiment continues

Here’s what’s working now—and the best ideas we’ve heard about

You’ve successfully made the business case a hybrid workplace is right for your organization. Congratulations! Now, comes the interesting part: Making it effective.

There’s certainly no “right” way to create a hybrid workplace—and we’ve all been learning on the job over these crazy COVID years. But based on my personal experience and the mountains of research I’ve consumed on the topic, there is one thing that’s absolutely critical: getting your team connected. No, I don’t mean having lightning-fast internet,...

Speaker Accolades:

 “Truly inspirational message. Really enjoyed the discussion around being resilient”

 “Thank you, Donna. I appreciate you sharing your journey. Great message in sharing takeaways to help others to bounce back.”

 “Calming demeanor that pulled in the audience, relatable and engaging story, almost no “verbal pauses”. Mature professionalism exuded.”

 “Very polished”

 “The authenticity and vulnerability of your stories inspired me. Thank you so much for sharing”

 “Loved the use of your personal stories”

“Donna, you are such a great speaker!”

 “Love, love, love your heartfelt talk! Thanks for helping us to focus on what's important!”

 “Great advice to focus on what's important. Heartfelt message Donna, thank you for sharing your stories!”

 “Very good presentation!”

 “Great job...

Tracy Keogh, CHRO (prior) at HP and now CPO at Great Hill Partners, joined us to share her experience and expertise on how to successfully leverage consultative skills in HR in order to help the business grow.

In today's business landscape, it can be difficult to get leaders on board with the idea of HR being a strategic Partner in growth. However, as Keogh explains, it is possible to change this mindset and get buy-in from CEOs and other key decision-makers.

Tracy Keogh's talk provides valuable insights into how CHROs can successfully leverage consultative skills to help their businesses grow. By creating a foundation for HR within the company and getting ahead of the curve, CHROs can position themselves as strategic partners in business growth and gain the trust of CEOs and other leaders.

Originally recorded at an HR Mastermind meeting Q&A and round table discussion is not included in this recording.

Not a member yet? Learn more here: https://www.chropartners.com/

In an effort to help more CHROs get on boards, here are a few highlights from a recent 50/50 Women on Boards Workshop I attended. 

If you are choosing a non-profit as a path to paid boards, choose one that has high profile execs who are also on public boards but to make sure you pick a non-profit board you are actually really passionate about. 

Highly sought after skills for boards especially relevant to CHROs:

ESG - especially the “S” and diversity

Comp and ben

Culture transformation

M&A experience

When seeking new board members, boards will turn to their trusted advisors (attorneys, accountants & bankers) for referrals because they want someone who is a good culture fit.

Only about 40% of the Board searches are through search firms.  And very often when a board does use a search firm, they will assemble their own LIST of candidates and give it to the search firm to vet the candidates. So having connections to...

Many organizations are forced to make the difficult decision to do layoffs.

Losing your job is one of the most stressful things that can happen in your life. And during times of economic turmoil, like we're currently experiencing, it can feel even more devastating.

And while it's never an easy decision, it's important to remember that how you handle your employees on the way out will have a big impact on them and your employment brand - both now and in the future.

So take this opportunity to live your company values and treat your employees with respect and dignity.

If it's possible, KEEP your recruiting team in place and turn them into an outplacement team to help supplement what the outplacement firms are doing for your impacted staff. Recruiters are great connectors, so they can help your employees network with their friends in the industry.

And if you're still hiring, take the time to do a little coaching if you have to decline someone who has taken the time to interview...

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In this edition of CHRO Summaries to Save You Time, we review McKinsey's 11 page white paper about the mindset and practices of excellent CEOs in a 30 minute vlog for your listening pleasure.

CHRO’s: Why should you care?

To start, “Just three in five newly appointed CEOs live up to performance expectations in the first 18 months on the job”

As a CHRO/CPO your success depends on working with the right CEO who can master these mindsets and practices. Whether you are… 

…looking for a new opportunity (CHRO or Board seat)

…coaching your existing CEO for success

…in charge of CEO succession planning

This is a summary you will want to listen to

Enjoy!  Cindy Lu

ps. If you would like to learn more about joining an HR Mastermind peer group, click here: https://www.chropartners.com/

The original article by McKinsey can be found here.