The War for Talent is for real. Multiple surveys and statistics highlight the challenge of attracting top-quality candidates is the biggest challenge of recruiters and HR leaders today. Employee Value Proposition simply stated is the question “Why should I work with this organizations”. Based on the concept of the Unique value proposition used to attract consumers and differentiate from competition, the EVP is the unique value that the company brings to employees.
Employee Value Proposition simply stated is a question “Why should I work with this organizations”. Based on the concept of the Unique value proposition used to attract consumers and differentiate from competition, the EVP is the unique value that the company brings to employees.
The EVP is what sets you apart from the competition, for competing in an employee driven market. A well-defined and balanced EVP that will help you attract and retain the talent you need. An effective EVP can help to attract candidates with goals and values aligned towards organizational goals and values, which aids in employee retention.
An EVP encompasses everything an organization does to attract and retain employees. It includes the pay, benefits, rewards, and perks that come with being an employee of that organization. Basically, it’s the reason why an employee would want to continue to work in the organization. The employer value proposition plays a critical role in what motivates and engages employees.
Every organization has an EVP whether it is purposefully cultivated or not is a different thing. Your existing employees and candidates will review your EVP when determining whether to come to (or stay with) your organization. If the organization doesn’t proactively communicate its EVP or the EVP is not aligned with company goals it could be one of many reasons for high attrition rate and higher recruitment costs.
The EVP doesn’t come only from the business leaders but from your entire organization who will develop your ideal company culture from your vision to reality. To build a strong EVP you must first understand what perceptions your existing staff and potential employees have about your organization culture and brand.
Below are some steps in identifying the effectiveness of your existing EVP
- Existing Perception internally and externally – As a first step, you should conduct surveys/research about what employees or candidates perceive about what your company currently offers.
- Is this perception in alignment with the organization’s Employer Brand?
- If the perception is not aligned how alienated is it from what you intend to communicate.
- How can you tweak the Employer Brand to ensure that is aligned with the corporate brand?
- Communication can play a critical role, work to build a communication plan to make employees and candidates aware of what is offered to be able to take part in and appreciate it.
When Building an EVP a few things that you should be considerate of
- Language: The tonality of the EVP attribute should be simple. Where possible expand it with a short description in clear and simple language and free of internal acronyms, jargons, or vague business phrases.
- What is in it for me: Define the attributes that you provide to your current and future employees, what will they get from working at the organization.
- Branded: The EVP can be communicated using a theme or conveyed through visuals, tonality, and keywords to tie the EVP together and make it more interesting for employees.
- Globally Relevant: You should have an overarching EVP that is applicable across all regions the organization currently operates in. If you have segmented your EVP for different talent segments, your overall EVP should still resonate with your entire workforce.
- Competitively Positioned: The EVP should be able to differentiate your organization’s strengths and unique offerings from your competitors.
Once you define your EVP, the next step is to find creative ways to communicate it to your employees and candidates. The EVP should be promoted internally to make your existing employees your brand ambassadors and through all hiring channels such as company websites, advertising, and the interview process.
