Considering that 90% of the current job market is candidate-driven (rather than by organizations), HR has had no choice but to evolve over the past 5-6 years to attract quality talent and retain employees. Organizations are adding marketing strategies, expressing their unique DNA and value proposition, and aimed at employee satisfaction and retention. Identifying the employers’ unique advantages and encapsulating them into a single message is what EVP (employee value proposition) is all about.
Due to this job market shift, and in the attempt to draw as much attention as possible, employers must develop a strong, attractive brand and communicate it in the 10-14 touchpoints a candidate usually has with their future employers before joining. Essentially, EVP is to employees as USP (unique selling proposition) is to customers. Creating a compelling EVP narrative is more likely to attract a larger share of potential employees (including passive candidates) than an outlandish publicity campaign.
Bringing EVP to Life
While the “Great Resignation” has yet to vanish, candidates are pursuing the right path to their perfect careers. Most people today are seeking employment stability, shared values, connections, work-life balance, and particularly for a place where they can freely be themselves. It’s no longer only about compensation and benefits; there’s a greater emphasis on employee experience; their wellbeing, the company’s culture, workplace environment, and growth opportunities.
Studies reveal that employees who share the company’s values and culture will work harder, perform better, and be more actively engaged at work. In contrast, employees who don’t share the company’s values and culture can end up costing the organization a great deal. Consequently, your employee experience is integral to your success when trying to attract and retain talents.
Keeping up the good work(er)
Thus, the employee experience should be well captured in the EVP, internalized, broadcasted, and flagged in every way and place possible, from planned campaigns to company communication, from social media to your website and job interviews. The employee experience should be at the center as the holistic impact of the organization and the job on the individual. Essentially, it is about how an employee feels, how their potential and abilities are perceived, how their expectations are met, and how it all impacts their wellbeing.
Not only will it put your organization at a competitive advantage, but it also makes for better business outcomes. From the new employee to the tenured veteran, when you prioritize the employee experience, your organization reaps the benefits. If your employees are happier, they’re more likely to stay and contribute more effectively, leading to more productivity, improved company culture, and better overall morale, thereby elevating the company to new heights. Happy employees and better business performance really go hand-in-hand.