Why your organization needs a strong EVP
A carefully crafted Employer Value Proposition enables organizations to attract the most suitable candidates, retain them over longer
Why your organization needs a strong EVP
Contents
Contents
What is an Employer Value Proposition?
An Employer Value Proposition (popularly known as the EVP) strategically presents the value that an employer offers in exchange for the value that employees bring to the organization.
The ‘value’ here goes far beyond the monetary value. The value that employees bring to the organization can include their long-honed skills, the experience they have gathered while working for other or the same organization, their contribution in terms of time and effort, and even other unquantifiable aspects such as loyalty, commitment, and alignment with the organizational goals.
The value that the organization offers can include compensation, benefits, flexibility, stability, learning, growth, worldly exposure, a supportive work culture, a community of like-minded people, role alignment, meaningful work, purpose-driven business, and even opportunities to contribute to society at large.
Considering this context, the ‘value’ here includes a broad range of aspects beyond the monetary value. Creating an Employer Value Proposition is a strategic exercise to identify, articulate and present the value that the organization offers.
How does an Employer Value Proposition affect employee experience and employer brand?
Like any strategy, the employer value proposition shows its impact only through good implementation. When implemented properly and consistently, its positive effects can be seen in both the employee experience and the employer brand. Let’s look at how they are different from the EVP.
Employee experience and employer brand are much larger umbrellas than the EVP. An employer brand is the perception of your organization as an employer. A positive employer brand can help your organization attract and retain the talent that you need to build a great team. An employer brand needs to be built both internally and externally. Whereas, employee experience is only an internal phenomenon. It can be different for each employee associated with your organization.
There are several factors shaping the employer brand and the employee experience. EVP can be one of the key drivers behind both of them. When a carefully crafted EVP guides the communication created for various employer branding touchpoints, it positively affects the audience’s perception of your organization as an employer. Similarly, the EVP also provides a direction to the organization’s effort to enhance employee experience. When your team is aware of the EVP, they also help shape the employee experience for every employee throughout their employment lifecycle.
Why does your organization need a strong EVP?
A carefully crafted and well-articulated employer value proposition helps attract, retain and align talent to your organization. It provides a direction for multiple communication touchpoints used during the employment lifecycle. When organizations make an effort to communicate, it helps potential and present employees have a better understanding of what they can expect at the organization. Let us look at some examples of the relevant communication topics and how they help employees deepen their understanding.
Compensation and benefits
- Does the compensation for my role align with my expectations?
- Does the organization offer the benefits that I’m looking for?
- Does it offer the work-life balance that I need to sustain in the job?
Culture and community
- Is the work culture suitable for my preferences?
- Will I be able to meet and work with like-minded people?
- Will I have an opportunity to meet and work with a diverse team?
- How can I contribute to the organization and the community at large?
Security and stability
- Does the role align with my skills and preferences?
- Are the present work processes suitable for me to deliver on the role expectations?
- Are the travel requirements right for my current life stage and personal preferences?
- Is the role right for my requirements around stability and flexibility?
Learning and development
- What are the opportunities for learning and growth?
- Are there any opportunities for relocation or national/international exposure?
- What kind of career path I can look forward to?
- Does the role offer any scope for vertical or lateral movement?
Vision and values
- Does the organization’s vision and values align with mine?
- What is the scope for me to do meaningful work?
- Which social and environmental causes the organization is committed to?
- How is it fulfilling its corporate social responsibility and how can I contribute?
A strong EVP helps attract, retain and align talent to your organization
Enhanced brand perception
Employees are the first ambassadors for the organization. With a better employee experience and a great employer brand, the organization also enhances its overall brand perception. Over the long term, this impact is evident even in a broader circle of stakeholders like customers, investors, vendors, partners, and the community in general.
To conclude, a well-crafted EVP is a starting point for a better employee experience, a stronger employer brand, greater business performance, and an overall improved perception of the organization.
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