It stands for Employee Value Proposition.
Officially, it’s the salary, compensation and benefits that the employer pays to an employee who’s contracted to deliver skills, experience and productivity that further delivers the company’s business goals, mission, purpose and values.
EVP, in tandem with your Employer Brand, will be a key, determining factor attracting, retaining or losing talent from your organisation.
Why does EVP matter to businesses?
78% of job seekers use social media for their job search (Glassdoor) because they want to see if they will be a good fit in your company’s culture. So, if you’re not focusing on your sharing your EVP via these channels the majority of job seekers have already overlooked your company before they’ve even begun.
“In a market where 91% of job seekers think company culture is more important than salary and 80% of candidates consider employer brand when choosing where to apply, companies that have a strong EVP” (Pinpoint)
We’ve recently worked with clients in communications, social, tech, food, drinks and beauty sectors who find that they’re struggling with attracting the volume of quality candidates that they’d like and are increasingly looking inwards to make changes. And we’re not the only ones hearing this from clients; we’ve recently met with LinkedIn and Glassdoor who said that their client companies’ primary concern is around EVP and making themselves more attractive to potential employees.
As recruiters we are spending increasing amounts of time with clients discussing EVP; what used to be an interesting conversation or “add-on” is now a central tenet of how we develop candidate attraction campaigns.
EVP/EB trends have ranged from empowerment and CSR, to pay and holidays, and currently the environment and social conscience. The breadth of information available to candidates from a variety of sources means that unless you are in control of your messaging, candidates will make decisions about working for you without attending an interview. As recruiters, we used to persuade candidates to “just go and meet them” knowing that our clients would be appealing enough if we could only get them through the door, but most candidates now won’t invest time in a meeting if they don’t like what they’ve learned about you so far.
Even businesses who have traditionally been attractive to candidates have learnt that a well-stocked fruit bowl, the comfiest of all bean bags and an established brand are no longer enough for current or prospective employees who are deciding what their futures will look like.
“Candidates trust a company’s employees 3 times more than the company to provide credible information on what it’s like to work there.” (LinkedIn)
Companies common mistakes when trying to attract and retain:
- Limited content (videos, picture, blogs) showcasing your culture on your website or social media channels
- Few or bad ratings and reviews that are not addressed on Glassdoor, Google etc
- No external/internal alignment on the company vision / poor brand ambassadors
- Poor employer brand
In 2020, how can you enhance your profile?
- Tell your full employer brand story (origins, visions, goals etc and how as a potential employee you can play a part in helping to achieve this)
- Understanding what makes you unique – are you sharing this?
- Conveying all your key selling points for your company (don’t assume people know this)
- Showcasing why you’re a great place to work using dynamic content on your website, blog and social media feeds
- Articulate this EVP clearly to both current employees and potential new recruits – ensure your internal team know and believe the points above – they are your greatest ambassadors
- Showing your work: giving candidates a real view of how creative/interesting/challenging/meaningful your work is will resonate with the right candidate.
We can help you clearly define your EVP so you can actively attract and retain the right talent.
Whether it’s a beautifully crafted “work for us” doc, Glassdoor review maintenance or your social media tone of voice, we can build a cohesive programme tailored to your company and your recruitment objectives. Oh, and we’re amazing at recruitment too!
Want more info?
Talk to us for an initial chat at firstname.lastname@example.org