The relevance of the employee value proposition for retention in the VUCA world of work

Abstract

The organisational landscape is characterised by volatility, uncertainty, complexity, and ambiguity (VUCA). Organisations are ever-changing, and they are adapting and reinventing the world of work to become leaner, more agile, and sustainable. Talent has become a key ingredient of success, yet organisations are battling to attract, engage, and retain talent in an organisational landscape where those with critical talent are able to determine how, when, and where they want to work. Traditional retention mechanisms have become obsolete, and the focus has shifted towards crafting a holistic employee experience through an attractive, realistic, and coherent employee value proposition (EVP). This chapter explores the EVP as a method of retaining talent in the VUCA environment. The chapter focuses on defining the concept, different approaches associated with crafting a compelling EVP, and the challenges faced during EVP implementation. The chapter concludes with the discussion of an EVP implementation case study in the South African environment.