​In today's competitive financial services industry, attracting and retaining top talent is more crucial than ever. Upholding a strong Employee Value Proposition (EVP) is a key weapon and advantage. However, whilst HR typically own crafting the EVP, its success hinges on how people managers translate that message into day-to-day leadership.

HR Sets the Stage:

Think of HR as the architect. They design the blueprint for your EVP, outlining the unique benefits and experiences you offer employees. This includes competitive compensation, professional development programs, a positive work culture, and more. It's the foundation that makes your firm stand out from the crowd.

Managers Bring it to Life:

Now, imagine the construction crew. That's where your people managers come in. They're the ones who translate the EVP blueprint into a tangible reality for your team. They foster a sense of purpose by aligning individual goals with company objectives. They provide coaching and mentorship, invest in their employees' growth, and create a work environment that's both challenging and rewarding.

The Financial Services Twist:

In financial services, a strong EVP goes beyond just attractive salaries and bonuses. It's about offering opportunities for professional development, exposure to cutting-edge technologies, and a chance to contribute to meaningful projects. Managers who understand this can leverage these aspects to attract ambitious individuals seeking long-term career growth.

Making the EVP Work for You:

Here are some ways for financial services firms to bridge the gap between HR's EVP and manager execution:

• Cascading Communication: Ensure managers not only understand the EVP but can also effectively communicate it to their teams.

• Manager Training: Equip managers with the skills to coach, mentor, and provide constructive feedback, fostering a culture of continuous learning.

• Recognition and Rewards: Align performance reviews and recognition programs with the key aspects of your EVP.

• Employee Feedback: Regularly solicit feedback from employees to establish how well managers are living the EVP.

The Takeaway

A strong EVP is a powerful tool, but it's only effective when backed by strong leadership. By empowering people managers to translate the EVP into everyday actions, financial services firms can create a work environment that not only attracts top talent but also keeps them engaged and thriving.

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Parity Consulting understand this dynamic and look for companies where the EVP is more than just words on a website. We see the evidence in how managers lead and how employees feel about their work. That's the kind of environment where top talent wants to be.

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For a confidential discussion, feel free to reach out to Victoria Butt on +61 402 418 326 or vbutt@parityconsulting.com.au