Creating a compelling Employer Value Proposition (EVP) is a crucial step for any organization aiming to attract and retain top talent. An EVP encapsulates the unique benefits and experiences you offer as an employer to your current and future employees.

Here’s a comprehensive guide on what an EVP is, why it matters, and how to create or refine one.

After watching, keep scrolling for a detailed breakdown with even more tips!

What is an EVP?

An Employer Value Proposition (EVP) can be summarized as the unique set of benefits and experiences that an employer provides to its employees.

These perks can range from compensation packages to non-monetary benefits, and include career development opportunities, work environment, and company culture.

Essentially, your EVP is the essence of your employer brand, forming the foundation upon which your company is built and communicated, both internally and externally.

Why Does an EVP Matter?

A well-crafted EVP offers numerous benefits:

Attracting and Retaining Talent:

A strong EVP not only attracts new talent but also helps in retaining existing employees. Data indicates that organizations delivering on their EVP have much lower turnover rates.

Boosting Reputation:

A good EVP can enhance your company’s reputation, fostering trust not just among employees but also with partners and customers.

Improving Performance:

Engaged and motivated employees, driven by a compelling EVP, often show improved performance.

Enhancing Workplace Satisfaction:

People spend a significant portion of their lives at work, so the “personality” of their employer is crucial.

Benefiting Organizations of All Sizes:

For smaller companies, an EVP can shift the focus from compensation alone to other valuable benefits.

How to Create Your EVP

1. Analyze

Begin by examining what your company offers in terms of both quantitative and qualitative benefits. Identify what makes your offerings unique.

This analysis should be genuine and comparative—understand your market but don’t simply copy competitors.

Evaluate Vision and Values: Since your EVP includes work environment and culture, reassess your business’s vision and values.

Highlight aspects that underscore your uniqueness, helping candidates connect their values with yours.

2. Draft

Condense your findings into a concise, engaging statement that answers the question: “Why should someone choose to work for you?”

Use straightforward, human language instead of business jargon.

Cover All Perks: Ensure your EVP addresses financial rewards, non-monetary benefits, career development opportunities, work environment, company culture, and your organization’s purpose.

Verify Claims: Double-check all claims and ensure they are backed by tangible examples.

3. Review

Think of your EVP as a two-way street—it’s an overlap of what your company can offer and what your ideal candidates want.

Tailor and refine your EVP to attract the right people, but ensure any changes are supported by tangible benefits.

Employee Feedback: Use surveys during job interviews, onboarding, and exit interviews to gather honest feedback about benefits and culture. This can help you fine-tune your EVP.

Re-evaluate Regularly: Update your EVP based on new learnings and benefits.

4. Communicate

Once your EVP is polished, it’s crucial to communicate it effectively both internally and externally.

• Internal Communication: Use onboarding materials, company blogs, newsletters, and town halls to share your EVP within the organization.
• External Communication: Promote your EVP through job adverts, your careers page, social media, and employee referral programs.
• Organic Promotion: Encourage employees to speak about your EVP organically, through genuine videos highlighting your company culture, environment, or specific benefits.

EditMate provides a streamlined software and video editing service to help you create this type of authentic, employee-generated videos

By following these steps, you can create an EVP that not only attracts the right top talent but also fosters a motivated and engaged workforce, ultimately driving your company towards greater success!