What your EVP is…
When we’re talking about Employer Branding – your EVP – is usually your organization’s Employee Value Proposition, not your Executive Vice President.
The EVP is a unique set of values and benefits that give current and future employees a reason to work for an employer. These offerings or associations are what will attract candidates to your organization and positively influence your employees. The EVP will be the differentiator between your company – and your competition and will reflect your company’s competitive advantage.
Developing a formalized way of expressing this EVP takes a lot of work. The foundation depends on knowing what your employees value and what your potential future employees value. It’s important to speak to your leaders, your candidates, your employees, and your external stakeholders to fully understand how your organization is perceived; to understand what holds value for your employees – and your target employees.
What your EVP is not…
Your EVP is not just a tagline. It’s not a catchy phrase for your job ads to drive more applications. It’s more like finding the words to describe those differentiators your employees appreciate. The EVP is what underlies the culture of the organization and is expressed in the way employees interact with each other.
Your EVP is not what you assume your employees value. Employees in entry level roles have a completely different experience than individuals in a leadership role – so it’s important to find out what the common thread is. It may not be what someone in marketing thinks is important – or it may not be what HR believes should be important to employees. You cannot base it around one or two water-cooler conversations with the same people. You have to do the footwork to truly understand what a vast cross-section of your employees value.
Your EVP is not just company perks and benefits. Perks and benefits are easily duplicated. Anyone can add an on-site massage chair. Your employees may appreciate certain benefits – and they definitely will be part of your value proposition, but this is not the unique part of your culture. At top performing organizations employees tend to value great leadership, growth opportunities, or colleagues. The EVP is centred around the work experience – rather than the compensation or benefits.
Why you need one…
You want to attract, engage, and retain top talent, but it’s critical that the talent is aligned with your organization. An employee who is a strong cultural fit, who feels that their own values are supported by the values of the organization – will be a more engaged, more productive employee. Understanding what is unique about your organization allows you to engage talent in a way your competition cannot. The EVP cannot be duplicated and this allows you to attract and retain the right talent you need to move your organization forward.
Your EVP is not something that can be manufactured overnight. It evolves with the organization and is an expression of your culture. It’s already there – it’s just waiting to be uncovered.