Attract and retain the best with a stand-out Employee Value Proposition
By Sophy Edmonds (5 minute read).
An employee value proposition (or EVP), in short, is a statement that explains what you have to offer as a workplace — what commitment you make to your employees in return for their service and loyalty to your organisation. A strong EVP attracts stronger candidates and helps retain and engage current employees.
In today’s competitive job market, organisations are struggling to fill roles. An Employee Value Proposition encapsulates the set of benefits to be gained from working with you, to help you effectively retain and engage the best possible people — with the necessary skills, attributes and values. Along with direct compensation, other benefits can include work-life balance, stability, location and workplace culture.
A compelling EVP can attract and retain high-performing, engaged employees — resulting in less employee turnover, organisational growth, trusted employee-employer relationships and improved customer loyalty. Your Employee Value Proposition helps place the right people in the right roles for your organisation to deliver the best customer experience and enable your organisation flourish.
The Edelman Trust Institute is a global communications firm that has researched the influence of trust — across government, media, business and NGOs — for two decades. Edelman consistently finds that an organisation’s ability to succeed or fail is determined by trust in their mission and leadership. Their special report, ‘Trust in the Workplace’, found that, against a backdrop of economic uncertainty, political instability and eroding institutional trust, employers have emerged as an anchor of trust and stability: 78% of employees around the world trust their employer.
Developing an Employee Value Proposition is part of your ongoing strategic marketing — an employer branding exercise that forms part of your wider strategy. As such, your organisation’s EVP should align with your
- strategic objectives
- brand purpose, values, principles and points of difference
- commitment to delivering high quality service
- formal and informal workplace benefits, initiatives and arrangements.
In order to understand the demographics of its workforce, employers should design the EVP with employees to ensure their preferences are captured and that it paints a realistic picture of what it’s like to work at your organisation. You’ll need to determine what it is about working at your organisation that employees value the most:
- Why are prospective employees attracted to working with you?
- Why do employees think your organisation is unique?
- What do they value most about working for you?
- Why do they stay? Why do they leave?
Having an effective Employee Value Proposition can help to attract new employees that have goals and values that are in alignment with organisational goals and values; in turn, research shows that employees are twice as likely to stay at a job they feel is meaningful and enjoyable. Your EVP should capture these specifics, but should also be inspirational and broad enough to appeal to different groups.
At Edmonds Marketing, we work with clients to develop their brand from all angles — including employer branding. With your wider business strategy in mind, there are many ways we help you define your brand’s employee value proposition:
- Find out why employees should choose you: we investigate key attributes and determine the aspects that people value the most about working at your organisation (as well as the least).
- Get the message out: develop internal and external communications plans to find creative and relevant ways to convey a clear and compelling perception of the value of your organisation.
- Help you retain the best of the best: deliver and implement brand engagement activities encompassing web, advertising and internal engagement practices.
Unsure where to start with employer branding? Edmonds Marketing is a strategic marketing consultancy based in Queensland and working with organisations Australia-wide.
For details on how to build a strong brand through an engaged team and clear communications, follow us on LinkedIn, read our blog or contact Sophy Edmonds email@example.com or call 0430 026739.