Recruitment today is highly candidate driven, and candidates are choosing their workplaces based on more than just a pay check. An employee value proposition (EVP) represents what your organization can offer candidates in terms of remuneration, support, and growth. It can also provide clarity around what your organization stands for so that you attract the right talent to your company.
Benefits of a good EVP
Helps attract and retain like-minded individuals.
Shows potential candidates why they should work with you over other companies (e.g., How are your values different from others? What benefits do you offer?).
Allows employees to feel more connected with one other and with the company.
Builds a strong base for work goals and communication.
Strengthens the overall employer brand.
Boosts employee engagement and experience for improved performance.
Decreases cost per hire through organic employer brand marketing and reduces money spent on recruitment agencies and job ads.
Building and executing the perfect EVP
Know who you are targeting
Create a candidate persona and design your EVP based on what will benefit the ideal candidate. Try to have an open mind and be as inclusive as you can while narrowing down who you want to bring into your company.
Make sure that the EVP is in both employee and employer interest
An EVP can be considered an agreement between the company and its employees. Make sure that it focuses on both employee needs and company expectations.
Get to know the employee perspective
It is important to understand how employees perceive your company. Conduct surveys and collect feedback whenever you can to learn more about why existing employees choose to work with your company, how potential candidates perceive your company, and why former employees chose to leave.
Anonymous surveys can allow employees to truly express the pros and cons about the company. As a result, you’ll get a better idea of how you can display your strengths, manage your weaknesses, and attract candidates based on these qualities.
Put your EVP into practice
Fulfilling the promises made in your EVP is crucial for talent retention and attraction. It is okay to own up to your difficulties and be transparent about what you can and cannot do. Overselling can ruin the company’s authenticity.
Don’t leave out any perks
Make sure that you are spotlighting all available opportunities in your EVP. Discuss financial benefits, health benefits, the work environment and culture, and career opportunities.
Display your EVP on all fronts
It is important that your EVP is reflected in all your brand elements, like social media, your website, and communication with candidates.
Beyond internally creating and publishing an EVP strategy, you’ll also want to create an EVP statement and promote it actively.
A perfect EVP keeps improving
An employee value proposition should evolve with the company. As the company grows, and the roles you hire for become more diverse, your culture and what you can offer employees will likely change. That’s why it’s important to be flexible. With metrics and feedback, you can review and revisit your EVP to ensure that it reflects exactly what your organization stands for.