4 Key steps to a great Employee Value Proposition
If you want your employer branding to be successful, a clear employee value proposition should be at the core.
An employer value proposition (EVP) is basically the value that your employees gain from working at your organization. This can include rewards and benefits like work-life balance or professional development. A well-thought-through EVP can help your organization drive engagement, highlight HR priorities and attract top talent.
In this blog post, we give you 4 key steps to develop your organization’s employee value proposition.
1. Dig and listen
Before you start building your EVP, dig a little at what your company offers employees today. You need to go below the surface of just a paycheck. A lot of employers take a very narrow view of compensations, looking only at a number on the paycheck. Make sure you define every aspect of the reward system and take a look at the total rewards perspective.
It’s not only important to look at what you have, but listen to your employees and find out what matters.
- Why do employees like working for you? Why did they join and why did they stay?
- What drives engagement?
- Why do employees leave?
- Would they recommend a friend to join your company? Why?
It’s also good to take a look at your competitors and learn how your EVP is different from other employers who are looking for the same kind of talent.
2. Analyse what your target audience wants
The EVP is meant to create the give and get agreement between employer and employee. So, you need to know what employees expect. It’s all about thinking about your target candidates and whether your benefits align with what they want.
Analyzing the data you already have can help you identify your target audience. (i.e. employees of a certain segment of the company, or where ever you want to extract data from). It also allows you to see if you are offering the right benefits at the moment.
3. Build your Employer Value Proposition
Using the research and insights you have gained. You can translate key themes into a marketable EVP that reflects the culture of your company and its values.
An example by L’Oréal, their EVP is broken down into three pillars:
- A thrilling experience — a truly global business with a clear purpose and vision will ensure that candidates can see how they would fit this into their own trajectory.
- An environment that will inspire — with the amount of science, corporate social responsibility, and sustainable business practices, there will be something to inspire most employees.
- A school of excellence — world-leading brands and products that attract the best people and skills, as a candidate you could be attracted to that environment for your career growth.
4. Monitor, measure and adjust
Organizations can change over time and sometimes faster than you realize. Don’t forget to monitor your EVP after implementation to ensure it still reflects your organization.
An easy way to do this is to send out surveys to your employees.
Having a strong EVP can be a powerful weapon in the war for the best staff.