Reimagining the Employee Value Proposition for a leading European Bank

#Banking, #ChangeManagement, #DesignandDeployment, #DesignThinking, #EmployeeCommunication, #EmployeeExperience, #Europe, #EVP, #ExploratoryResearch, #FinTech, #FutureScapes, #GCC, #India, #TalentStrategy, Foresighting

Context:

Our client was the Global Service Centres (GSCs) in India and Romania of a leading European Bank. The client was on the path of defining a new Employee Value Proposition (EVP) that would guide their Talent strategy in the near future to attract, engage and retain highly skilled employees. LW stepped in to help the client interpret the EVP as a continual dialogue between top-down narratives and bottom-up lived experiences and meanings.

The intent of the project was to re-imagine and define the Employee Value Proposition (EVP) for our client to reflect the changed aspirations of their post pandemic workforce.

Collaboration with LagomWorks:

To articulate the EVP, LW used our IDEATM research framework, blending ethnography, design research, and data analyses. This implies the use of multiple tools and multiple researchers to ensure rigour and reliability. Ultimately, the EVP needed to be embedded in conversations, behaviours and actions for meaning, impact and sustenance.

Following FutureScapes roadmap, the project began with in-depth and multimodal research to formulate hypothesis on the emerging EVP themes and keywords. These emergent EVP themes were taken forward for validation so that they may guide the design considerations for the final value outcomes. The ethnographic validation yielded key meanings (keywords, imagery, desired individual and organizational actions) that informed the articulation and description of EVP promises.

Team

Impact

The EVP project ended with the following value outcomes being delivered:

The EVP promises – 5 promises and their descriptors were articulated

Identification of the Moments that matter and associated people/ teams

Designed Communication Strategy and RoadmapConversation guides for Leaders, HR team and Managers

Since then the global EVP for the Bank has been launched which aligns perfectly with the findings and EVP promises delivered by LW for the GSCs.

The successful delivery of this project led to further exploration of ways to deliver these promises on the ground. A second project was defined and LW partnered with the client to develop their Employee Experience Framework (EXP) and design underlying interventions.