Possibly because it isn't exactly the same. An extra space on the end, for
example, will make it different.
Try copying that employee name from the list that VLOOKUP is searching and
pasting it in the cell where you have what you called the "search item".
Does it now work?
Alternatively, what is the fourth parameter (range_lookup) in your VLOOKUP
formula? (It helps to always quote the formula when you ask a question
here!) From Help:
"If range_lookup is TRUE, the values in the first column of table_array must
be placed in ascending order: ..., -2, -1, 0, 1, 2, ..., A-Z, FALSE, TRUE;
otherwise VLOOKUP may not give the correct value. If range_lookup is FALSE,
table_array does not need to be sorted.
You can put the values in ascending order by choosing the Sort command from
the Data menu and selecting Ascending."