October 14, 2021
Working with clients across various sectors and industries has made us start to realise the difference an EVP can bring to your business.
What is an EVP?
EVP is an employee value proposition, a similar concept to employer branding, in that it is one of the ways you, as a company, can attract the skills and employees they desire. Think of it as your unique selling point to prospective talent. How is your company unique? What does your company stand for and embody as an organisation?
Your EVP is the reason people want to work for you and can be a crucial element in retaining talent in a competitive job market. Its main goal is to create an employee centred workforce who are committed, positive and productive. Your EVP can work to take focus off renumeration and push your employer brand, values and ethics across your entire staff – both current and future.
It is, in essence, the embodiment of your organisational culture, values, vision and inspiration.
How can I create an EVP?
Just like your values, visions and organisational culture is unique to your business, it is crucial to make sure your EVP is too.
To start, you must understand the existing perceptions of your company, throughout your company. It may be easy for business leaders to assume your employees are responding in line with your thinking, but your team may have a completely different version of reality.
Through open communication, surveys, appraisals, feedback and exit interviews, you need to understand what perceptions your current workforce have of the company in order to develop your brand vision into a reality.
Ask your team:
Using the information gathered, establish what aspects of your company people value the most. This will clearly give you the area your company excels at – the unique thing you offer.
Building your employer brand clearly in line with your EVP will give a clear sense on what your business embodies and how this might attract future talent.
Do the areas you excel at value align with your strategic objectives? Do they differentiate your company?
Once these areas align and you have identified your EVP, it needs to be heard by talent looking for new opportunities. Your adverts and attraction methods need to echo your EVP. Your interview process needs to ensure it focuses on your EVP so your future talent aligns with your current staffing vision.
What will a strong EVP do?
A strong EVP and consistent communication will allow your company to break through the crowd in an already very competitive market. The further you can communicate the value of working for your company, the more you can tap into a passive labour market who may be swayed by the proposition to work for you.
Having a strong EVP will help you attract top talent, set you apart from competition and align your business as an “employer of choice”. It will also assist in retaining key talent and prioritising HR agenda. An EVP creates a strong employee-centric brand and can assist in re-engaging any disenchanted workforce ultimately, reducing hiring costs.
If you would like more information on how to create a strong EVP or assist in your recruitment strategy, please get in touch with our expert team today.
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