Your employee value proposition (EVP) is your pitch on why someone should want to work for you. It’s crucial for bringing in top talent, and one of your best assets when it comes to building a productive team.
There are a lot of benefits to building an EVP — both in the process itself and in the end result. Ultimately, your EVP needs to be a direct accounting of what your organisation is all about, including its mission, core values, and company culture. All of these aspects help prospective employees get a full idea of what they could expect as part of your team, bolstering your claims about what you have to offer an individual above and beyond a monthly paycheck.
So how do you go about building your employee value proposition? Here are the four steps you need to follow in order to define and deliver on your EVP.
Step 1: Gather Information
The first step of building an employee value proposition is usually the most time intensive too. At this stage, your goal is to gather as much “proof” as possible regarding how great your employer brand is. Because it’s one thing to tell a prospective employee that they’ll love working for you — it’s a whole other thing to show them numbers and testimonials that illustrate why.
Start by looking at your employee perks and benefits, and then build out on their core themes and trends. From there, dig into the data to find support for these key points, using everything from employee exit interviews to retention metrics to prove that these values truly matter to you. As part of your information gathering process, you might also ask current employees to fill out a survey so you have a wealth of firsthand accounts and testimonials to build in to your EVP.
Step 2: Take It To The Top
All hierarchies on the employment ladder should be represented in your EVP. In addition to going to your core workforce for information, sit down with team leaders and upper management so that you can get an even broader perspective of your employer brand. Schedule one-on-one opportunities to discuss the employee experience from their point of view, and incorporate these unique perspectives into your final EVP.
Step 3: Write It All Out
Here’s where everything will start to come together. There are five main components that you want to be sure to include in your employee value proposition and each of them should be well flushed out through the supporting evidence that you’ve gathered.
Here are the five components, with a few ideas of what you’ll want to include for each.
- Monetary rewards – Salary, stock options, bonuses, commissions.
- Employee benefits – Health insurance, paid or personal time off, vacation days, retirement benefits.
- Company culture – Team building initiatives, guiding values, internal promotion structure.
- Work environment – Workspace initiatives, remote work capabilities, work-life balance.
- Career growth and development – Extended learning opportunities, technical training, mentorship, certifications.
As you write, you’ll probably notice gaps that you can go back in and fill with additional data and reporting. Once complete, your EVP should give a comprehensive view of what it means to be an employee at your company, with a highlight on the features that make it such an excellent place to lend your time and talents.
Step 4: Deliver
This step can (and should) be read in two ways: first, delivering your EVP to candidates themselves and making it accessible in the right places; and second, making sure that you’re always delivering on the promises within in. A great-sounding EVP is valueless if you don’t actually live it and breathe it. Now that you’ve encapsulated your employer brand on paper, make sure it’s a reality and not just a pipe dream.
A well thought out EVP will encourage better talent to join your team. Write yours today and future-proof your recruitment process for years to come.