Employee Value Proposition – Everything you need to know
Employee value proposition (EVP) plays a key role in attracting, engaging, and retaining top talent and elevating your entire employer brand.
But what exactly is EVP?
It’s the unique value you offer as an employer to your employees, in return for their skills, experience, and commitment to your company. Essentially EVP aims to identify and communicate all the benefits employees can expect when choosing to work for your company.
So, now we’ve covered what EVP actually is, want to know how you can develop an engaging employee value proposition, that highlights the unique benefits and opportunities your business has to offer?
1 – Identify what makes your company unique
The first step is to brainstorm the features and benefits that set you apart from the companies you compete for talent with. Ask yourself a couple of questions:
- What can you offer employees that other organisation’s can’t?
- Why would someone want to work for you rather than for another employer?
Once you’ve found the answers, shout about them! According to LinkedIn, 75% of jobseekers consider an employer’s brand before even applying for a job. So, before you’ve even met the potential candidate, your EVP matters. Don’t sleep on this.
2- Understand employee’s needs
Understanding what your employees need and want is essential for your EVP to meet expectations and aspirations.
We recently carried out a survey asking what is most important to people when looking for a new role. 55% of respondents stated that career progression is at the top of their list of priorities. So, do your research into your industry and shout about how you can offer the exact thing jobseekers want from their next employer. In this case, shout about how your career progression pathways are better than your competitors – it’s pretty simple!
3- Align your EVP with your mission, values, and goals
Your EVP must incorporate your mission, values, and goals to be effective. Highlight how your company’s values are reflected in your culture, policies, and practices. By doing this, you’re fostering a shared sense of purpose amongst your current employees.
You know you’re nailing your EVP when your employer brand becomes a part of your employee’s personal brand. 92% of employees would consider changing jobs with no salary increase if the opportunity was with a company that had an excellent reputation, according to Glassdoor. The best people to represent your EVP in the truest light are the people that are living and breathing it each day.
Curious to find out how you can increase your employee’s engagement? Click here and learn about the four enablers needed to create a culture that leads to engagement.
In a time when employees increasingly attach value to an organisation’s reputation as an employer, your employee value proposition and employer brand are essential to attract and retain top talent. As well as resulting in 10% higher customer ratings and 18% higher revenue, according to Gallup. If you would like any further advice on the importance of employee value proposition, please get in touch – our team will be more than happy to help!
