Communicating a business’s “employee value proposition” or EPV – the package of rewards that it offers in return for the person’s performance at work – is having an increasingly positive impact on employee engagement, retention and recruitment, research has claimed. Aon’s Benefits & Trends 2020 Survey (registration required) suggests that although the percentage of employers who have, or are working towards, an EVP remains similar to last year (76 percent), the number that now communicate it to staff has increased. Of those employers that have an EVP, 77 percent now explain it to employees, an increase of 9 percent on 2019.

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Employers worried about rivals poaching their staff should be looking closer to home to spot their next competitor, a new study has claimed. In a survey of 3,000 UK employees by Synergy Creative, nearly half (47 percent) said that they would love to be their own boss, raising the prospect of them setting up in competition to their existing employer. Of those intending to find a new job in 2020, a third said their ideal job is to work for themselves, compared to 25 percent who are looking to move to another company. (more…)

Following reports that job applications on the first working Monday of the New Year spiked by 89 percent compared to the average Monday in December, many UK businesses may be missing a trick in their efforts to retain staff, new research has suggested. When researchers commissioned by Eko asked 1,000 employees what factors would make them stay in their job for longer, they were ten times more likely to stay put for friendships than for a pay rise. Indeed, only 3 percent of workers cited a pay rise as something that would make them stay with their employer for longer. (more…)