4 REASONS YOU SHOULD BE INVESTING IN YOUR EVP
Just as companies need to explain their products and services to their customers, they must also be able to clearly explain why people choose to work for them and what they expect back in return.
There are many elements that go into the creation of an employer value proposition – company vision, strategy, purpose, values, total rewards, culture, the list goes on…
However, here are my top 4 reasons for making sure you articulate and communicate your proposition in the right way:
1. Understanding how your company is actually perceived internally
We all know that in order to create a proposition that truly resonates with the people your company needs, you need to be able to hear people’s perceptions first-hand, to discover what the current reality is.
In every EVP project I have undertaken, the research phase has uncovered the foundations under how we’ve gone on to create the proposition.
Speaking to your existing employees and really truly understanding what the current experience is like (and not just what HR says its like!) gives you the insight needed to create something truly authentic.
2. Understanding how your company is actually perceived externally
You also need to make sure you understand how your company is perceived externally by the talent you want to attract. So, speak to talent working at competitor organisations, speak to talent working at organisations that successfully hire the skillsets you’re looking for.
By building this insight you’re able to provide the direction needed for creating a proposition that is relevant to the talent you want to attract too – be that active or passive.
Balancing the perception vs reality of your proposition can be difficult but it’s essential that you’re honest. There is no point positioning yourself externally as something you’re not because you’ll get caught out… whether that’s in the first week, first 90 days or first year.
So make that investment and really make sure you understand your target audience the same way you do for your customers.
3. Aligning with your business strategy
The following statistic shows that it really is a no brainer for you to be escalating the conversation to the right level and investing in your EVP.
Negative reputation can also cost businesses 10% more per hire and so it’s critical that your EVP sits right alongside your business strategy.
EVP is not just about talent attraction its about how you attract, select and retain talent to be able to deliver on your business vision and strategy.
Every time your business changes its strategy, you’ll need to relook at your EVP to make sure that it’s aligned and delivering. For example, if the company decides that by 2025 they want to become the biggest digital software company in the world:
- Have you thought about what talent you’ll need to deliver on that vision?
- Have you thought about how much of your workforce you need to continue to retain and engage to deliver on that vision?
- Have you thought about whether you’re perceived in that way externally right now?
These are all big questions you should be asking and that you’re EVP should be helping you deliver on.
4. Communicating it the right way
Now you know what your EVP is, you have to tell people about it. The way you communicate your employer value proposition through your employer brand and the channels you use is just as important as the proposition itself.
In an era when only 12% of employees put a lot of trust in what employers say about themselves, companies must not only be true to their word but they must also increasingly rely on their employees to be their spokespeople.
Once you’ve established your EVP take the time to plan your employer brand communication strategy for both attracting and engaging talent and also using your own employees as advocates of your brand.
These are the four most important reasons but this is by no means a final list! This is only a snapshot, so if you want to know more then get in touch with me.
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