Employment6 Jun 2023
The Importance of an Employee Value Proposition in Recruiting
When it comes to the recruitment of potential employees, the importance of an Employee Value Proposition (EVP) cannot be overstated in the slightest. Indeed, the EVP - as it is known in the hiring business - is quite possibly the number one factor associated with hiring the most top-of-the-line potential employees within any given sector.
However, before diving into the details of the essential nature of the Employee Value Proposition when it comes to attracting potential new recruits, we here at Belong Creative must first establish what, exactly, an Employee Value Proposition is in the first place.
An Employee Value Proposition relates to the unique array of benefits, perks, cultural experience and opportunities an employee receives from an employer in return for their unique set of skills, capabilities and experience.
On the flipside, an Employee Value Proposition helps businesses clearly define the human essence of their offering. The EVP reflects and supports a company’s values, culture and overall brand strategy as well.
A cohesive Employee Value Proposition, within the larger context of a corporate culture, is an imperative tool to not only attract candidates but also to support the engagement and retention of talent who are already employed.
Why is an Employee Value Proposition important in recruiting?
Conveying a clear and compelling Employee Value Proposition to potential employees is an essential part of recruiting. The more intimately familiar candidates are with the benefits of working with your company they will be far more likely to accept a role. Indeed, your EVP can be a vital tool in engaging, exciting and motivating candidates to become loyal and productive employees from day one on the job and beyond. On the flip side, an authentic EVP can also help the wrong sort of people deselect in the recruitment process and that can save your business thousands of dollars and headaches in the long run.
Who should develop your company’s EVP?
As with most things, it is important to develop your company’s cohesive Employee Value Proposition by sourcing data from a variety of sources and perspectives to ensure rigour and authenticity. EVPs that work well are founded around research insights. Some organisations do this research themselves (although this is not recommended as sometimes employees hold-back on their true experience) or you can hire an external EVP specialist agency or consultant. Research can cover leadership, hiring managers, current employees, new starters, missed candidates, exited employees and returning employees, Don’t forget to research your competitors as well. You don’t want to create an EVP in a bubble! It’s integral that your EVP is authentic but also differentiating.
Updating your Employee Value Proposition
So when should you update your EVP. There is no hard and fast rule, but when significant changes occur in the employment experience, so should your promise. Some of these changes might be;
1. Shift in business or talent strategy
2. Merger or acquisition
3. Major change in executive leadership
4. Brand-related or value and behavioural changes
5. Major product or service changes that require new/different talent
6. Geographical/Workplace location changes (expansions or reductions or refurbishments)
7. Major policy changes
8. Opportunities due to socio-economic changes
Evolving your EVP as business changes will allow you and your company to better attract and recruit the right employees at any given time - regardless of any macro or micro changes in the job market in the years to come.
What are the key elements of an Employee Value Proposition that can be used in recruiting?
There are several key elements which make up your EVP that should be leveraged during the recruitment process. These include:
Tangible rewards such as compensation, benefits, discounts, flexibility policies, perks and reward programs are an important part of attracting potential employees as they are comparing these against other employers. Alongside the more intangibles of your EVP, these rewards should be routinely reviewed to make sure they are competitive, or even better, unique in the marketplace.
Your corporate purpose, mission and values are a core element of your employment offering. It gives potential employees a greater sense of why your business exists, how employees are expected to behave and what is the driving goal or journey the company is working towards. This allows candidates to ‘self-select’ by aligning their personal values with your corporate one.
Whether it is career pathways, on-the-job training, paid courses, secondments or opportunities for progression, all these ways to develop yourself professionally is something that attracts and retains great talent. Promoting regular personalised conversations around opportunities can give employees a sense of their future growth which can be very appealing.
A sense of belonging is a human need. And this is just as important at work which makes up a large part of our lives. The power of connection has become even more important since the Covid-19 pandemic which kept us separated and changed the way the world works. When diversity in all its forms is celebrated and employees feel heard and included in decisions that affect them, this creates a safe environment for them to feel like they can show up as their whole-selves. The result is a happier, more cohesive and respectful workforce.
One of the most unique aspects of any organisation is its people. While familiarising potential employees with your company’s inner organisational structure is a start, it’s beneficial to go further than this. Share bios and testimonials of your leadership team and key personnel in your business. The more that people can get to know who they will be working alongside the more appealing joining the organisation will become.
Similarly, showcasing videos of the way people in the organisation behave and interact demonstrates the culture of the company which again may attract the right employees and deter the wrong ones!
Conveying to potential employees the tasks and duties and the way the work should be performed are fundamental aspects of applying for a role. But your EVP can convey beyond this. It could be the impact that the work has on customers, community or planet. It’s also HOW you work. Maybe your employees love working autonomously and empowered to make quick decisions, or perhaps your people are collaborative and take the time to develop concepts through data driven insights. For potential employees to know how work is done can be both attractive and differentiating from other employers.
How to communicate your Employee Value Proposition to recruiters?
Recruiters love an EVP, as it is a playbook to help them sell your company as an employer in a genuine way. It also guides them on finding better fit talent for your desired culture moving forward. Make sure you provide all the key messages of your EVP both tangible and intangible so they have a well rounded view of the employee experience. To be even more effective, use sub-evps that are divisional or team specific to really convey the intimate localised culture that the candidate is signing up for.
Frequently asked questions
The development of a comprehensive EVP is a collaborative one. As such questions will arise as to how best to develop your EVP. Here are a few answers to typical questions we get from our clients interested in developing an EVP:
Q. What is a strong Employee Value Proposition (EVP)?
A strong Employee Value Proposition, is a strategic one that is research-led. It must be grounded in proof points, sourced from internal and external sources. This ensures your EVP is authentic (you can deliver on your promise), relatable (you’re offering something people want) and differentiating (you offer something no-one else is). Beyond this, it’s bringing these messages to life via your Employer Brand activities.
Q. What's the difference between your EVP and your Employer Brand?
EVP is messaging that encapsulates all the benefits a potential employee might expect to receive working for your company AND what is expected from them. An Employer Brand is how that EVP is expressed in colours, video, testimonials and consistently across all employment marketing channels. Based on strategy, your Employer Brand’s objective may be to build awareness, shift misconceptions, attract talent or retain talent. Ultimately your Employer Brand lives in the hearts and minds of your employees, candidates and wider industry.
Q. How do you evaluate the effectiveness of your EVP?
Evaluation of your EVP, can be measured at the end of the recruitment process. Was your company able to attract the quantity and quality of hires you were searching for in the first place? If so, the EVP was well crafted and has done its job. If not, you may need to do more work on your competitive differentiation. Take on board any feedback from missed candidates as to why they did not accept your offer. Is this feedback authentic, a misconception, or an opportunity to redesign your employee experience to set you apart?
