Employee Value Proposition, revisited.
The art of identifying, attracting and retaining global talent.
In a world where Talent is completely mobile, where prepared candidates can find opportunities anywhere, and digitalisation keeps transforming business all around the globe, Employee Value Proposition (EVP) has become a key factor for employers.
Organisations are now required to create solid, attractive and well-thought EVPs that define who they are as employers and what they offer to their new hires. Offering a competitive salary, a good health insurance plan or a gym membership is a given nowadays and most definitely not enough to attract and retain talent.
But compensation and benefits are just a small part of the EVP equation. Nowadays, employers are required to consider other factors such as purpose, culture, career — let’s explore those in more detail:
- Compensation: Salary satisfaction, compensation systems , raises & promotions, openness and fairness.
- Benefits: Time Off, Holidays, Insurance, Education, Flexible Working, Retirement, Health, Recognition etc.
- Career: Growth opportunities, Development opportunities, stability, feedback, personal growth, etc
- Work environment: Work-life balance, autonomy, challenging environment, recognition, impact, clarity on responsibilities, organisation fairness, job alignment with personal and professional interests etc.
- Culture: Social responsibility, leaders and managers, support, team spirit &organisation dynamics, reputation of the organisation, etc
- Purpose: Personal connection with the company’s mission and vision, fulfilling work, sense of belonging, empowerment, I&D,
EMPLOYER BRANDING FRAMEWORK
There are many different models to follow when building an EVP, but I will next go through the main stages employers would need follow when creating their own employer brand:
1- Collection & Analysis of data: to be done though internal surveys, focus groups and interviews with management.
2- Develop EVP: Use data to define desired attributes, people and organisational goals and draft an initial proposition.
3- Test & Approve: In different regions and groups, work with the Comms team to design a communication strategy.
4- Communication & Engagement: Internal & external comms plan. Roll out tasks connected EVP alignment.
5- EVP Management & Reporting: Designated team to monitor progress and report on KPIs.
In future posts, I will continue exploring EVP focusing on different stages (recruiting, onboarding, retention and development). I hope you have found it interesting!
Here are some great articles on EVP if you want to continue reading on it:
