The importance of the Employee Value Proposition (EVP).
In this socially-connected world employees are more discerning, more mobile, and more willing to search for a new job than ever before, which means that employers need to work harder to attract high-quality candidates for new jobs. It is becoming increasingly important that employers promote a positive image for their company, and that this image matches the reality of working for them. A key aspect in attracting the A-Player candidates is the “employee value proposition”.
What is EVP?
This is a more difficult question than it may seem, as “employee value proposition” can mean different things to different people in different contexts. In a marketing sense, it is a statement developed by the employer (or their PR agency) to outline the value that an employee would get from working with them. In reality, it is the overall impression of your company that people form from all sources, rightly or wrongly. For this article we are just looking at the EVP Statement. There are a number of aspects to this, including:
- What the employer actually does in the workplace. Do they promote a friendly working environment? Equal opportunities? A positive workplace with opportunities for career advancement? Whatever it is, it’s important to ensure that the EVP is an accurate portrayal of the company. If it isn’t, new employees will not be retained, and the company reputation will suffer.
- How it is promoted. This will be discussed further below, but there are a number of ways that an employer can promote their EVP. The best method will be determined by the type of company being promoted, the size of the company, and the benefits being put forward in the EVP.
How should employers develop and promote their EVP?
There are a number of different things that employers need to do in order to portray an accurate and compelling EVP. A good starting point is to define what your current employees actually value about working for you. Take any data that you have about your company and do an in-depth analysis of it. Using this (and paying special attention to employee comments) identify the key areas that your company excels in. You can also take this opportunity to fix other areas where you are found to be lacking.
The next step is to turn this information into an effective EVP. It should be a relatively simple statement, yet engaging and truthful. Make sure that you don’t pad your EVP out with false information, as this will NOT encourage employees to trust you, and could begin to plant the seeds of doubt in their minds.
The final step is to deliver your EVP to both your current employees and to any potential future employees. Obviously, include it in your recruitment process, making sure that it is something which stands out to people applying for jobs within your company. And, promote it across your social media pages and website careers page. Where possible, complement it with positive quotes from existing employees. If your budget permits, consider articles or advertising in industry journals, careers’ days at universities and colleges, and good-news stories in the press.
Maintaining your EVP
Even if you start from a strong position with an excellent EVP, you will need to zealously protect and nurture it. You must maintain the good things, minimise any bad bits, and avoid hiring any bad apples. You will never be able to provide complete career paths for all your good people, so it is only natural that some great ones will need to leave in order to fulfil their ambitions. Make sure your recruitment system captures the characteristics that made them great as benchmarks for new recruits.
About the author
Michael has been involved in IT solutions throughout his career enjoying a strong and very successful progression in Sales, Sales Management, General Management and running his own businesses. He has first-hand knowledge of the power of the employee value proposition from both sides, when choosing a new role and when attracting A-Player talent.
