What is Your Employee Value Proposition?
The impacts of COVID-19 continue to be felt by employers in 2021 as job seekers take a more cautious approach to their careers and are less willing to move. This has created a candidate-short market in some sectors and new challenges for employers wishing to recruit new staff. As a result, an organisation's Employee Value Proposition (EVP) is more important than ever. Having a strong EVP will enable an employer to stand out amongst the competition and be much more appealing to candidates.
What is an Employee Value Proposition?
An EVP is the total sum of the benefits, growth opportunities and culture that an employer can offer its employees in return for their performance in that workplace. It is each organisation’s unique offering to entice new talent and ensure their current employees stay happy and motivated.
Why an Employee Value Proposition is so important?
An EVP is an important part of the recruitment process for any business, big or small, as it communicates to candidates why they should work there. As an employer, if you don’t have an EVP in place, you are already behind your competitors. There is huge competition for talent in the current employment market, so any strategy which puts businesses ahead will be beneficial.
How to create an Employee Value Proposition
Put yourself in the shoes of a job applicant. A potential employee wants to know what it will be like to work for an organisation and why? What’s in it for them? What will the team culture be like? Are there social events? What staff benefits and flexible work arrangements are on offer?
Reputation also plays a part here. Is the organisation renowned for being an employer of choice? What do current employees and past employees say about the organisation? The answers to all of these questions represent the employer brand and will greatly affect how candidates perceive the organisation.
An EVP can take a bit of time to put together, but once it’s created, it can be used as standard information going forward, with tweaks as your organisation evolves.
- To get started, ask current employees about the positives of working there to get an inside perspective. What are the reasons people are proud and motivated to work for the business?
- Employers should also think about where the EVP will be used. There is no point putting an EVP together if it’s only mentioned quickly in a job advert. Your EVP should flow through a range of touchpoints during the recruitment process and beyond. Incorporate it into induction plans, internal communications, company policies and business plans, etc.
Employers that don’t have an employee value proposition are more likely to face issues when recruiting new hires. By creating an effective EVP, employers can improve their chances of attracting top talent in a competitive market and enjoy higher retention rates in their existing workforce.