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This
is any human resource executive's worst nightmare, according to a new study less than one-fourth of corporates meet employees' expectations despite most of them overpaying new recruits. "What most employers don't realise is that a poorly managed Employment Value Proposition (EVP) costs them a significant amount of money each year, most visibly by overpaying for new staff," says research firm Corporate Executive Board's senior officer Derek van Bever. EVP, as explained by the organisation, is the set of attributes that current and potential employees perceive as the value gained through employment in the organisation -- garner significant benefits in terms of attraction and commitment. "Globally, employers offering an uncompetitive EVP must offer double the premium on starting compensation of an employer with an attractive EVP," Bever added. The study, conducted by Corporate Executive Board, surveyed more than 58,000 employees from 90 different organisations across 20 industries and includes detailed analysis of Indian and Chinese labour markets. The report titled "The Challenge for Leading Indian Employers," examined the attributes that are most important in attracting high-skill talent and companies' subsequent performance in delivering on those attributes in day-to-day work. The labour market in India places much more trust in written communication channels, such as newspapers or online media, than does much of the rest of the world, Bever added.
— PTI
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