When your prospective candidates are searching for a job, they have more resources than ever before to help them decipher whether your organization is the right fit. From reading employee reviews to checking out your career site, job seekers are doing their research.
So how can you make sure that your company makes a good impression on the best talent?
Build a strong employee value proposition (EVP).
What exactly is an EVP?
An employment value proposition is the combination of rewards and benefits that you promise to provide employees in exchange for their productivity, time and energy. It can include tangible things like salary, benefits, and special employee programs (think training & development, wellness programs or flexible vacation time).
But it also includes intangible elements. The things that don’t show up on a paycheck but still carry high regard. Consider an engaging company culture, challenging work, meaningful results, or the opportunity to excel.
Basically, an EVP is everything your employees brag about to their peers.
How will it help my company?
It turns out, a strategically designed EVP has shown to be a key tool in attracting, retaining and motivating employees to drive your organization to success.
It’s what brings the best candidates in while ensuring those same superior individuals stay longer.
But not all EVPs are successful. You have to make sure it genuinely connects with your workforce. In fact, the degree to which your employees connect with the EVP determines the amount of effort they will commit to your organization.
Where do I begin?
Building an EVP is not a simple process. You have to commit the time and energy to researching and identifying the key elements of your value proposition. The good news is it’s worth the effort. Putting an effective EVP in place today will lead your organization to better productivity and profitability in the future.
Step 1 – Assess
First, take a full evaluation of what your company offers to employees. A good starting point is to ask yourself “why do I stay?” It’s most likely shared by many of your colleagues.
Step 2 – Research
Start your research by asking several teams what they like most and least about being employees. We’d recommend collecting the feedback anonymously to help generate more candid answers. Using your results, identify the most common themes.
Step 3 – Address
Determine if these elements align with your candidate demographic. It’s important that your EVP addresses their needs and preferences.
Here’s an example: You’re looking to recruit developers and designers. Because this demographic appreciates the right tools for success, it would be important to highlight your technology and development programs as part of your EVP.
Step 4 – Create
Translate the chosen themes into terms that reflect your company, culture and values. Remember that a marketable EVP is concise and uses conversational language.
Here’s an example: McDonald’s has three pillars for their EVP and use employee quotes to define them:
- Family & Friends – “I work in an enjoyable, energizing atmosphere where everyone feels part of the team.”
- Flexibility – “I have a challenging, varied job that has the flexibility to fit into my lifestyle.”
- Future – “I have an opportunity to grow and progress by learning personal and work skills that will last me a lifetime, whatever I choose to do.”
Step 5 – Execute and Adopt
Before launching your new EVP, share the final themes with your best internal brand ambassadors to ensure you’ve hit every point. Invite them to help inform the rest of the workforce about the new, formal EVP.
Then, it’s time to broadcast it to your prospective candidates. Incorporate your value proposition throughout the recruitment process: onto your career site, within your job postings and into a recruiting video.
Step 6 – Review, review, review
An EVP is never truly complete. In fact, an strategic employee value proposition should be continually reviewed year after year. Gain feedback from new hires and regularly evaluate your EVP to ensure it’s aligned with your recruiting, hiring and retention goals.
An effective EVP can be the difference between your organization losing and attracting the best candidates. When you make a solid promise to your prospective employees, you create a commitment that goes beyond a paycheck. Use these steps to create a strategic EVP today, so can ensure lasting results for your workforce and business tomorrow.