Define your Employee Value Proposition (EVP) and use it to attract candidates?
Employee Value Proposition (EVP) is a solution for attracting talent in a highly competitive job market. In order to make yourself their employer of choice, you have to be able to trigger your perfect candidates’ interest by differentiating your company from your competitors.
You can do that by presenting your unique Employee Value Proposition (EVP).
What is an Employee Value Proposition (EVP)?
Simply put, Employee Value Proposition (EVP) is a compelling answer to the following candidate’s questions:
“Why should I work for your company instead of somewhere else? What’s in it for me?
Why is your company a great place to work at? What can you offer me that other companies can’t?”
When faced with that questions, many companies highlight the salaries and benefits they offer.
However, compensations and benefits are just a part of an effective Employee Value Proposition (EVP).
Employee Value Proposition (EVP) is a comprehensive offering that companies provide to their employees, which has 5 main components:
1. Compensation
This component encompasses employee’s satisfaction with salary, but also additional rewards such as bonuses.
2. Benefits
This component incorporates different benefits (health, dental, retirement, tuition and disability), but also paid time off and life insurance.
3. Career
This component consists of employee’s career stability and a chance for its development, including opportunities for training and education.
4. Work environment
This component refers to a positive work environment, sense of personal achievement and a healthy work-life balance.
5. Company culture
This component is based on positive relationships and team spirit with your colleagues and managers.
How to define your company’s Employee Value Proposition (EVP) and use ti to attract candidates?
There are 4 crucial steps in the process of defining and using your Employee Value Proposition (EVP) in order to attract candidates:
Step #1: Define your candidate persona
The first step in defining your company’s Employee Value Proposition (EVP) is defining your candidate persona. 👩
Step 2#: Define each main component of your Employee Value Proposition (EVP)
The second step in defining your company’s Employee Value Proposition (EVP) is
specifying each of its main components with your candidate persona in your mind.
Step 4#: Personalize your Employee Value Proposition (EVP)
In order to use your Employee Value Proposition successfully, customization is the key. If you want to attract the right talent for your company and open positions, you need to segment and personalize your EVP for your target audience.
Step 5#: Promote your Employee Value Proposition (EVP)
There are many different types of content (such as team blogs and company videos) and communication channels (such as your career site, social networks etc.) which can be used for promoting your Employee Value Proposition (EVP).
Employee Value Proposition (EVP) examples
Here are 2 different, but very effective examples of Employee Value Propositions (EVPs), presented in a popular video format.
BMW’s Employee Value Proposition (EVP) video
In this video BMW employees explain what makes BMW Group such a special employer and what do they like the most about working for BMW. In this video you can see young, talented people explaining why they chose a career with BMW over other companies.
Deloitte’s Employee Value Proposition (EVP) video
This video offers a glimpse into the everyday experiences of Deloitte’s employees. At the same time, it very cleverly incorporates and showcases different components of Deloitte’s Employee Value Proposition (EVP).
We hope this two videos have inspired you and gave you some fresh ideas.
Now go on and start defining your own Employee Value Proposition (EVP)! :)
