Why Do You Need An Employer Value Proposition?
An Employer Value Proposition (EVP) is a list of your company's essential features that contribute to your overall employer brand. Consider it a contract between an employer and a prospective employee.
In exchange for their talent, abilities, and experience, what can your organization and culture give them? An EVP is a place to explain and make your case for elite personnel.
What is Employee Value Proposition?
A well-rounded EVP can help to polish your company's identity and culture, boost your employer brand, and promote better recruiting overall. However, this is also due to a shift in the balance of candidates and employers.
The fight for talent has begun, and top applicants are now spoilt for choice when it comes to new opportunities. As a result, an EVP is critical when sourcing potential applicants or when they come across your job posting.
So, if your firm wants to recruit top talent, you must have a well-defined, appealing, and candidate-focused EVP to give prospects a reason to apply. Furthermore, provide them a cause to desire to work for your organization.
The development of your company's employer value proposition should be spearheaded by HR, but it should also include input from practically every department. Executives, senior managers, normal workers, and persons particularly tasked with recruiting talent are all examples of this.
However, your EVP should also be in line with your company's overarching strategy, guiding vision, and working philosophy. As a result, having buy-in from the top is advantageous.
Before you can create an effective EVP, you must first have an honest and personal insight into who you are and what others think of you. An employer brand audit might assist you in obtaining this information. You may gain a clear picture of your strengths and limitations, why people appreciate working with you, and what makes you unique by speaking with potential applicants, existing workers, and alumni. Without these vital insights, you will be unable to explain your EVP.
If you haven't already, finish your employer brand audit by following our guide, which lays down the actions to take and the questions to ask to obtain the best insights.
After doing a comprehensive audit, you should have a good list of reasons why individuals want to work with you.
Warning: If you don't have specific reasons, you may have a greater issue to deal with. Don't try to create an EVP based on what you aspire to be; new workers will immediately realize they've been sold a sham. They will come in as exciting new recruits and shortly depart unhappily. Recruiting managers understand how time-consuming it may be to discover and hire the ideal applicant; the last thing you want is a high retention rate for new workers.
To begin, make a list of all of the advantages that were discovered throughout the audit. This can be a broad list. In the following phase, you will fine-tune them. But first, double-check that you haven't missed any highlights.
Now, look for similar themes in your list and prioritize/consolidate the most important advantages into three primary pillars around which you will develop your EVP. (Note: Some brands utilize more than three, which is OK; nevertheless, no more than five should be used.)
One method for determining which advantages to highlight is to divide them into two lists:
What draws customers to your business?
What keeps people coming back?
After that, you may compare the columns to see if there are any similar themes or throughlines in your employee experience that can be consolidated under one pillar.
Taking a thorough look at your competition is another simple approach to narrowing down your choices. What are your 3-5 talent competitors saying? What's not to like? Don't worry about your advantages being completely unique at this time; instead, utilize competitive data to determine where the "white space" in your business may exist.
It's time to start composing your EVP with your pillars in mind. You'll eventually want to create a few variations to go through as a group.
Don't allow your self-consciousness to get in the way at this point. Don't be concerned with the exact phrasing. The goal is to record your feelings.
Begin by writing three sentences describing each pillar. As you begin to create your whole EVP, you may mix and combine phrases to begin crystallizing a single EVP.
As you narrow down your options, ask yourself the following questions to assess your statement drafts:
Are they true, as evidenced by the rewards and other insights gleaned through your fundamental work?
Do they distinguish you and say anything distinct from your competitors?
Will they be compatible with your company's external customer brand? (but not step on its toes)
You may then disseminate choices to your team for feedback.
It is now time to tighten, trim, and colorize your versions. As you go over them, make certain that they are:
Succinctly: they should explain concrete benefits rather than overwhelm individuals with flowery jargon. Keep it brief and to the point.
Specific: The only thing worse than having no EVP is having one that is extremely general. Make a point of emphasizing what distinguishes you. Asking yourself, "Could my competition use the same EVP?" is a straightforward approach to determine if you've done your job. " Sure, there is some overlap in sectors, but you should have enough distinct advantages to separate."
Descriptive: You have a great opportunity to paint a picture with language. Don't give up if it takes a few tries to get the phrasing just perfect.
On brand: It should capture your brand voice, personality, and tone.
It is now time for feedback. In addition to the immediate team working on the EVP, get feedback from a diverse range of other workers, as well as prior and present applicants, if feasible. To measure their responses, ask them:
Are the advantages obvious?
Which version piques people's interest the most?
Which has a greater emotional impact?
In terms of the day-to-day experience of working here, which one does the firm excel at?
You'll most likely have a clear frontrunner or at least a better idea of where to go. Iterate with your team until you've reached your best version.
There is plenty of evidence that good EVPs provide actual business advantages. There is a lot of work that goes into developing a strong EVP and employer brand in order to reap those rewards.
Companies must invest time researching, defining, creating, optimizing, and delivering an EVP that effectively portrays the company's value to workers before presenting it internally or internationally.