A compelling employee value proposition (or EVP for short) is essential for retaining top performers and attracting the best talent. So, if your organisation isn’t currently putting your best foot forward, you’ll probably want to read on.
What exactly is the EVP?
An EVP encapsulates what your talent is looking for and what your organisation offers. It is made up of a unique set of benefits and conditions which an employee receives from the business in return for the skills, capabilities and experience they bring to a company. While this looks different in every business, there are a number of components that can make this up – here are a few of the biggest ones:
- Compensation – i.e. satisfaction with salary and frequency of reviews
- Benefits and perks – i.e. flexible working, holiday entitlement
- Career development and progression – i.e. training and development provided, clear career paths
- Organisational culture – i.e. trust and confidence in leaders, ways of working, collaboration
Who are EVP champions?
There’s no doubt that the companies getting their EVP right reap the rewards. The examples we’ve picked out here can be considered leaders in their respective fields but what they also show is that there’s no exact science or universal blueprint for this – it is about pinpointing what the EVP should be for your organisation and ensuring its authenticity. Here are those two case study examples…
“We are building a company people love. A company that will stand the test of time. So we invest in our people, and optimize for your long term happiness.”
Hubspot brings this to life by using their careers page to highlight employees’ own stories and insights about life working there through videos and testimonials. Their focus is on getting across the friendliness and informality of their culture, while also demonstrating the creativity, innovation and career growth opportunities that are central to their EVP.
“PwC provides you with the support you need to help you develop your career. You’ll work with people from diverse backgrounds and industries to solve important problems. Are you ready to grow?”
PwC very clearly demonstrate their understanding of the change in what matters most for employees now, particularly younger generations in the workplace who increasingly are demanding more than just money from their career. In building their EVP, they have majored on the diversity of their work, opportunities and people to attract future talent. This message is further reinforced by the prominence of accreditation logos for being among the best employers for both women and graduates.
3. The LEGO Group:
“Our ultimate purpose is to inspire and develop children to think creatively, reason systematically and release their potential to shape their own future”
The LEGO Group is a great example of a purpose-driven organisation. The customer and employer brand messaging alignment is seamless after a major overhaul back in the noughties. There’s also clever use of their mini figures and products in their communications. What comes across strongly in their EVP is the collective focus, of being part of this big mission and purpose that drives them. And there is also a strong emphasis on values such as collaboration, creativity and having fun at work.
You can find a few other examples including from our client Starbucks in another post we wrote here.
Understanding your business
Think about what most attracts prospective employees attracted to your company. You’ll find a lot of the answers though from your existing employees. We recommend running focus groups across the business to understand what your employees think or say is unique about the business? What do they value most about working there? Why do they choose to stay or leave?
Your employee survey is an invaluable tool at your disposal when it comes to garnering deep insights across the business about what your employees think about the company as an employer – the good, the bad and the sometimes ugly. By asking questions that cover the key areas mentioned earlier that can make up your EVP, you’ll end up with some invaluable data. Analysing it will give you a real sense as to how the organisation is perceived now, where strengths lie and what most appeals to your people to support the design of your EVP.
Defining what you want your EVP to be
Consider whether your EVP is inspirational – is it distinctive? How clear is it and will it have broad enough appeal for different groups? Does it align with your strategic objectives? And, last but certainly not least, does it paint a realistic, authentic picture of what it is like to work in your organisation both for existing employees and a potential workforce?
Whatever your own conclusions based on the questions posed, you’ll need to validate your EVP with a wider sample of people. Use focus groups to test the EVP with existing employees and other stakeholder groups externally – graduates or customers, for example.
Getting the word out
Skipping ahead a little… Once you’re happy that your EVP fits the bill, you’ll want to get the message out. Communicate externally through all hiring channels, update your website and interview process and use platforms like Glassdoor and LinkedIn to project this messaging.
Embedding your EVP
As we already alluded to, authenticity is key where your EVP is concerned. There is absolutely nothing to be gained from projecting a wonderful, mythical, fantastical image of your organisation in the EVP if it doesn’t reflect the day-to-day reality.
Incorporate the EVP into every relevant touch point internally – your on-boarding programmes and materials, reward and recognition schemes, internal communications, processes and business plans.
And, one final point. Don’t lose sight of the fact that your EVP, like most other aspects of organisations, is pretty organic. It will evolve and it’s important you keep track of EVP perceptions and review it regularly to ensure its continued relevance.