18 Jul What’s in it for me?
More companies are telling us about the importance they are placing on having a well-considered Employee Value Proposition (EVP). Recruitment used to be a relatively simple process but with today’s ever changing business world, more thought needs to go into more aspects of how any organisation can attract and retain employees. Bottom line – your organisation will need an EVP in today’s marketplace.
What is it that will set your company apart from others? How can your company compete in today’s competitive market? How can your organisation communicate your positive differences? Most suggest it is via your own and unique EVP.
The EVP adds another level to the well-versed mission statement and telling the world how your business functions. Our conversations with organisations suggest more specific and unique offerings for the individual need to be evident in communication pieces across all platforms.
A few things we have noticed you may want to consider as you develop your EVP:
- The obvious one is to decide to have an EVP. Those who have not made this decision are potentially flying blind in the marketplace – particularly for recruitment.
- Your EVP needs to highlight obvious points of difference. What elements could be included in your unique EVP? For example – our data suggests that recruitment and retention are enhanced by having an integrated health, wellbeing and performance program embedded in your EVP.
- Avoid loading your EVP up with overt physical offerings like free lunches and gym memberships. The more discerning individuals are looking for higher level benefits. Social benefits, collaboration process and ethical pursuits are but some elements to consider.
- Your EVP needs to deal in specifics. Tell the story of what it is like to work within your organisation. The reader will be then making a better-informed decision. Use easy to understand language. Make your EVP real and tangible.
- Consider that an authentic EVP needs input from all levels within the organisation…not just the leadership group. Most successful recruitment comes from the current workforce. Word of mouth needs to be authentic. This can be supported by a well-developed EVP. The feedback data we have highlights the overwhelming support for companies that offer an integrated health and wellbeing program. This type of program enhances the EVP automatically.
- Ensure you can move smoothly from an overarching EVP to one that can address the specific aspects of any region and different teams. The point is, by developing “specific elements” within your EVP you can accommodate the differences across your workforce and allow for better communication.
- The EVP that mentions the actual product the company delivers and the problems that the company is aiming to solve, is well received. If the candidate can see the bigger and maybe better picture, what they will be working on and who they may be helping – it certainly adds clarity in their eyes. It also adds another level as to why work with our company.
Creating an EVP may not be on your radar now but if you consider creating one then it will give you a head start attracting those who wish to work with you, as well as helping retain those who are currently employed with you.