Contrary to popular belief, hiring a new candidate who fits the company’s culture can sometimes be problematic and time-consuming. For a long time, we had to deal with the market of the employee who could choose from a variety of job offers. Then how to convince candidates to work for our company? The answer is the employee value proposition (EVP). Read on to find out more.

What is an employee value proposition (EVP)?

What is an EVP – employee value proposition?

The EVP, which stands for the employee value proposition, is a proposal coming from a given company to attract the ideal candidate and retain those already in the company. It points out the added value that comes with employment at a given place.

The employee value proposition is the reason why people want to work in a particular place. It can be compared to a product but with a slightly different value for the customer.

Benefits of defining the employee value proposition

  • Competitive advantage – a well-crafted EVP can differentiate your company from the competition and attract candidates who match your profile,
  • Continuous improvement – by preparing the employee value proposition, you can find out which areas are considered attractive by other employees, and which still need some modification. This is valuable information because, thanks to it, you know what to improve and how to become even better in the market,
  • Selecting the best candidate for the job – an effective recruitment strategy to identify the best candidate for the job,
  • Reducing recruitment costs – this stems from the fact that an attractive offer will quickly attract applicants who match your requirements. Otherwise, you would be forced to pay additional fees for the help of recruitment agencies, posting ads, etc.,
  • Communicating the company’s values – by showing that you care about your employees by offering attractive benefits, and perks, you communicate what kind of organizational culture prevails in the workplace and the importance you place on this aspect.

How to define your employee value proposition?

Here are some solutions on how you can use the EVP to not only find the perfect new hire but also improve the relationship with your current employees.

  1. Ideal candidate profile

    2. Ask yourself what qualities your ideal candidate should have. Knowing their qualities will help you determine what is important to them in a job and what values they will look for during the hiring process. Will it be the ability to work remotely, specialized training in a particular field, or a convenient location?

  2. Pillars of the successful EVP

    3. An effective employee value proposition should have the following characteristics:

    • Stability – the company must provide the employee with job security,
    • Honesty – any information provided in the recruitment process can be verified by the candidate, so it is not worth lying about reality,
    • Emotionality – arousing (positive) emotions in the recipient is the key to establishing a relationship with them, which is what we care about,
    • Attractiveness – both the form and content of your EVP should be impeccable and free of any mistakes or shortcomings;
    • Uniqueness – in a highly competitive environment, you need to find a way to highlight your uniqueness and convince the recipient that working with you is one of their dreams.
  3. What to offer in the EVP?

    4. Most importantly, it should be consistent with your company’s mission and meet the needs of your employees. Components of the EVP might include, for example:

    • Salary, bonuses,
    • Benefits, for example, stress leave or parental leave,
    • Free medical care,
    • Remote or hybrid work,
    • Pet-friendly office,
    • Flexible working hours,
    • Courses and training,
    • Attention to work-life balance
    • Easily accessible location,
    • Free parking,
    • Travel allowance.

Measuring the employee value proposition

You should regularly check the state of your EVP. Is it still attractive to potential employees, or does it need any improvement?

  1. Define your employee value proposition. Make a list of all the current benefits (financial and non-financial) you offer as an employer. It is important that this list is consistent with reality. If you see any discrepancies between what you offer and the facts, make improvements.
  2. Once you have highlighted individual EVPs, assign KPIs to them. It will allow you to monitor the situation and your position in the market. Useful parameters will be, for example, the rate of employee turnover, the time it takes to find a new person for a job, the cost of hiring, and employee satisfaction. It is also a good idea to monitor and respond to what is being said about your company on the web and social media.
  3. If it’s necessary, improve your EVP.
Collect employee feedback

Human capital is a company’s most important resource. That is why it is so important to take an interest in your employees’ opinions and feelings about the workplace. Even a small comment can point out a problem that has been there for a long time, but you have not been able to see it due to the lack of a broader perspective.

  1. You can get information from daily conversations with employees (keep in mind, however, that they may not always be honest).
  2. Conduct anonymous surveys among employees and talk to those who have decided to leave the company.
  3. Try to find out as much as you can without judging their decisions or accusing them of any particular behavior. Focus on getting answers to the following questions:
    • Why do some employees stay and others leave?
    • What attracts candidates to my company?
    • What do current employees value about the company?
    • What other benefits or perks would be attractive to employees?
    • Are there areas of my company that need more attention and improvement (e.g., HR)?
    • What makes our company better than the competition?

Promote your EVP

Getting the best candidate for the job requires taking initiative. Take care of your communication on social media and show your audience that working for you is a dream come true. Be present on a number of recruitment portals, and post your job ad on your website. Pay attention to how you present the position to the potential recipient. Tailor your communication style to the recipient and don’t forget all the practical aspects that should be included in a good job ad.