7 easy steps to defining your EVP

 

Attract the best candidates in 2021 with a compelling EVP

When you are hiring new talent or focusing on retaining current employees, your employer brand is what sets you apart from your competition. A key part of your employer brand is your Employee Value Proposition (EVP). An EVP articulates the rewards and benefits that your company offers its employees, in return for their performance within the workplace.

 

Read on to find out how an EVP can strengthen your brand and don’t forget to download our EVP creation template.


 

Let your brand shine

 

80% of talent acquisition professionals and HR managers around the world agree that a great brand makes it easier to recruit top talent, it’s clear that developing your EVP should be an area of focus. A compelling EVP creates a competitive advantage, by helping answer the employee question ?what makes your company the best choice?? and helps you define who you are as an employer and what you offer employees.

 

The world of work is currently in a state of disruption, driven by technology growth and changes in employee demographics. The organisations that will succeed in the new world of work, will be the ones that future-proof their brand against these changes today. LinkedIn did some research with showed that half of your potential candidates won’t even consider working for your company if it doesn’t have a strong employer brand, no matter how much money is on the table.

 

The organisations leading the charge today in attracting top talent and encouraging their talent to stay and grow within their company have put employee value and experience at the top of their agenda. They know 56% of professionals evaluate a brand’s reputation when contemplating a job offer, so they focus on creating a meaningful employee value proposition and delivering a positive employee experience.

 

The stats speak for themselves, a great EVP delivers the following benefits:

  • 24% INCREASE in employee recommendations
  • 28% REDUCTION in annual employee turnover
  • 20% BOOST in commitment from new employees

CEB Corporate Leadership Council (2014). 

 


 

The EVP discovery process 

 

Seek recently found through their data, that when applying for a job candidates don’t look at salary first, but they instead consider the benefits, and all other perks associated with a job first. In other words, top candidates are looking at the entire compensation package rather than just the monetary amount.

 

So where do you go to gather insights and understand what benefits are most attractive and compelling to your candidates?

 

Your greatest resource of course ? employees. Finding out what keeps you employees engaged is so important, on two levels: firstly employee engagement is the key to make your organisation more competitive as engaged employees are productive and invested in the work they do, but secondly understanding what keeps your current employees engaged will help you articulate and properly implement an Employee Value Proposition (EVP) to attract new talent. 
 

Peopleconnexion’s employee engagement surveys are a great way to gather input and intel from your employees about your employer brand, which you can then you can use that data to influence your EVP.

 

 

7Cs of implementing an effective EVP

 

We’ve broken down the process of defining an EVP into 7 steps. These steps don’t necessarily have a specific start or endpoint, and some organisations will be further along the journey of EVP creation than others and won’t need to touch all the steps. The 7 C’s are your model and template, if you don’t know where to start when creating a compelling EVP. 

 

 

With 2021 around the corner, now is the time to define your brand story and EVP, so you can attract top talent and retain your greatest assets.
 

Download the free step by step EVP creation guide to begin attracting quality candidates. 

 

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