The ABC of EVP
In this article, we take a look at how you can understand your organisation’s current employee value proposition (EVP) and what steps you can take to start developing an authentic, unique and desirable employment offering that will attract the talent your business needs to thrive.
Your EVP is the quid pro quo you offer your employees in return for their time, skills, and efforts. It includes the benefits that you offer, your company culture, purpose and values, and everything else that you provide to your employees that they derive value from.
If you understand your EVP from the perspective of your employees and prospective employees, and relative to what your competitors are offering, you can develop an EVP that will create a point of difference and present a clear and compelling reason to join, and stay with, your company.
Understanding your EVP
The first step to understanding your EVP is to conduct research on the attitudes, desires, and experiences of current and prospective employees. This is particularly important following any time of change or great challenge - so if you have not done this previously, 2021 is your year!
Aim to collect a strong data set with even representation from across the business so that you capture demographic influences and also those relating to the work situation, such as position type, role level, leadership impact, tenure, and team. Make sure also to include former employees - finding out why a person has left the business is as valuable as understanding why someone stays!
During your research, you should pay close attention to whether your current EVP is understood, championed, and consistently applied across your organisation. For example, before advertising flexible working benefits, you need to ensure that flexible work is available to your current staff. This means that the relevant policies should be in place and flexible working options should be offered in an equitable way that your employees and managers understand. If an inclusive culture is the foundation of your EVP, then you should be sure that your employees feel a strong sense of belonging and respect in their everyday interactions with their colleagues and leaders.
Once you have collected and analysed the data, you will be able to determine if what you are currently offering is attractive, whether it is the true experience for all employees, and whether it is something that differentiates your business in the market.
Developing and communicating your EVP
Perhaps most critical to developing and communicating your EVP is understanding that the lived experience comes first. Once you understand what motivates people to join and stay with your organisation, you can start the process of identifying and creating people experiences that matter to them and craft compelling messages that communicate these experiences both internally and externally.
When it comes to EVP, an aspirational quality is commendable - making promises you can’t deliver is not. Using the data gathered, your strategy should effectively balance communicating what you currently offer with a plan to close any gaps and maximise opportunities identified. Start by focusing on those areas that your business does well and that clearly differentiates you from your competitors and regularly measure how effectively you deliver these experiences.
It is also critical that you measure the effectiveness of your communications plan. For example, are you building awareness of your employer brand, and are you driving greater preference to join your business in your key talent markets? In particular, pay close attention to the extent to which new hires feel that the promises you make have been delivered (you can find out more about how to measure your EVP and employer brand strategies here).
Finally, remember, if you find yourself needing to focus heavily on salary and financial incentives to attract the talent you need then, quite simply, your EVP and your employer brand are not doing their jobs!
If you would like to review your EVP, Harrier can help you to build your business case, conduct research, and define your strategy, as well as support the cultural change program required to strengthen your employer brand.
Not sure where to start? Harrier offers a free consultation to help you define your objectives and articulate a roadmap for success. Please reach out to us using the form provided.