7x7 EVP Framework Fundamentals

Developing an effective people strategy seems straightforward enough, yet for anyone who manages their People & Culture or Talent Acquisition function, we know this is far from the truth. 

And while there’s no silver bullet, control over your people strategy is absolutely in your hands. You set the direction. Cultivating a powerful and differentiated Employee Value Proposition (EVP) not only gives your company a competitive edge but also expedites your growth into a transformational leader. 

In this primer, we set the stage for our 7x7 Employee Value Proposition Framework — a seven-part blog series for designing and developing an impactful EVP of your own. But first, we explain why EVP is crucial for businesses of every scale and where to begin.  

What exactly is an Employee Value Proposition?

An EVP is essentially a distinct set of benefits and rewards that an organisation offers to its employees in exchange for their skills, knowledge and contributions. It encompasses everything from compensation and benefits to opportunities for development, health and wellbeing, work-life balance, belonging, and of course, the company culture and climate. 

Simply put, the EVP communicates the company's unique value proposition to potential employees. This provides you with a framework for aligning the needs and expectations of your people with the goals and objectives of the business.

Why bother?

• Attract top talent. A company’s EVP can effectively draw interest from skilled individuals and differentiate itself in a competitive job market. This can improve the quality of the workforce, leading to increased productivity and business performance.
• Align employee and organisational goals. The EVP’s emotional resonance is equally important as its strategic alignment. It helps drive performance, productivity and employee satisfaction. 
• Improve employee engagement. Effective EVPs make employees feel valued and motivated, leading to higher levels of engagement, job satisfaction and loyalty. Long-term, this translates into lower turnover rates and improved morale and performance among employees.
• Support diversity and inclusion. EVPs can support the creation of a workplace culture that is respectful, supportive and inclusive. It sends a message that people from diverse backgrounds are valued and celebrated in the workplace, which fosters greater innovation and collaboration.
• Build a positive reputation. A well-communicated EVP can enhance a company's reputation as a great place to work, attract top talent and strengthen relationships with customers and other stakeholders.

5 reasons companies slip up on EVP  

Despite the clear business case, many companies have not defined their EVPs. Here are five reasons why:

• Lack of understanding. Some leaders may not fully understand the importance of an EVP or the benefits it can provide. They may perceive it as a low priority or overlook the direct connection between an EVP and business performance.
• Limited resources. Developing and implementing an EVP can be a complex and time-consuming process that requires significant resources, including time, budget and expertise. Some companies may desire an EVP but are too low on resources or capacity to invest in its creation. 
• Difficulty in measuring impact. Measuring the impact of an EVP can be challenging, just as it can be difficult to quantify ROI. This can make it difficult to justify the investment and prioritise its development.
• Lack of focus on employee needs. Many companies place too little emphasis on understanding the needs and expectations of their employees. Developing an EVP that resonates with them proves difficult. 
• Inadequate communication and delivery. Even if an EVP is developed, it must be effectively communicated and consistently delivered to have an impact. Putting this into practice can be challenging for companies without well-established communication channels or processes in place.

Creating your Employee Value Proposition Framework

Knowing the value of an EVP is a great jumping-off point, as is setting intentions to create a compelling proposition of your own. However, crafting a differentiated message requires research and inquisitiveness, long-term planning and a commitment to leading change. 

This is where Harrier’s Employee Value Proposition Framework comes in, covering:

• Company culture and climate
• Employee rewards and recognition
• Mental health and wellbeing
• DE&I and belonging 
• Work-life balance
• Opportunities for growth and development
• Competitive compensation and benefits

In the following posts, we detail the seven components of an impactful EVP, and for each one, provide seven pieces of advice for implementing them in your business. We hope you find our EVP Framework Series valuable and that it helps you create a powerful, lasting employee value proposition. Read part one: Culture and Climate.