What’s your Employee Value Proposition?

Having a well thought through and genuine Employee Value Proposition that is based on actual staff experience can give your organisation a better chance of attracting the right people, now more than ever. 

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How to approach Employer Branding and attract great talent.

In our final post of 2021, we explored the considerable – yet frequently underutilised – value of developing a strong and motivating Employer Brand for your teams. We also discussed why more and more Australian businesses, big and small, are finding it just as important to their bottom line as the external brand their customers see.

Why your Employer Brand matters.

The organisational culture and your ‘employee experience’ affects how your organisation’s brand is perceived both inside and outside of your business. This employee experience naturally influences whether people will stay or leave. Similarly, it will also have a huge impact on whether you can attract the right talent. Your Employer Brand can be the difference between successfully filling a new role with someone who will fit your company or failing to find the right person, costing you time and money.

Getting your EVP (Employee Value Proposition) right.

According to USA-based business and research consultants, Gartner, organisations that create and deliver an effective EVP can use it to decrease  employee turnover by a staggering 69% whilst also increasing new hire commitment by nearly 30%. Trouble is, the same study found just 31% of HR professionals believe their employees are satisfied with their current EVP. Even worse, 65% of job candidates reported pulling out of a hiring process due to an unattractive EVP. 

Having a well thought through and genuine Employee Value Proposition that is based on actual staff experience can give your organisation a better chance of attracting the right people, now more than ever. 

This shows there’s a real opportunity to be gained by developing a strong EVP – but you can’t make it up, it has to be based on real insights and employee experiences.

“An organisation’s EVP should not be built around pay or employee benefits, but an articulation of the Employee Experience. It’s an honest summary of why the experience is unique to that employer.”

Ian Moore, Employer Brand specialist.

Where to start with Employer Branding.

Employer Branding may not be something you’ve spent a lot of time thinking about. But with all the workforce disruptions and economic uncertainty of the past 24 months, there’s arguably never been a more important time to start than 2022.

Talent shortage is a global phenomenon and with conversations around ‘The Great Resignation’ being a real thing, it is beginning to create a lot of challenges for recruiters and employers alike. Employees are now driving the conversation and terms around how and where they work. This simply cannot be ignored by old ways of thinking. 

So, with a shortage of talent and a competitive market, your Employer Brand can be the difference between securing  the best talent or losing them to your competitors. This can be even more challenging for Australian regional businesses trying to attract talent from further afield, especially when this may include a big move from the city for a sea or tree change. There’s a lot at stake.

How to create an Employee Value Proposition.

Quite simply, you can’t make it up. You will most certainly have an idea as to what it is, but you must start with research. Authenticity is key here. Understanding why your employees stay or leave is crucial to identify your EVP and it will be more successful if your research is conducted independently. Understanding what your employee experience is can only be understood if it is based on fact. Only then can you begin to articulate why people would want to work in your organisation.

Once you have articulated your EVP, you can develop messaging to be used everywhere from your recruitment advertising and incentive programs to performance reviews and the setting of KPIs. Your EVP is a short and aspirational statement that outlines your workplace philosophy and the top reasons why someone would want to be part of your team, and stay part of it.

Writing your EVP may seem simple enough. But getting it right can actually be tricky. Try to avoid thinking about what you can give in terms of salary or bonus schemes, but more about the employee experience and why being part of your team is different to other organisations. Are there things you can own? Then test them with your employees to make sure they’re perceived to be valuable.

For example, it might be embracing flexible new ways of working. Your values may include associating with community or social issues that align with employees’ personal philosophies. Offering more paid holidays each year, or more training. An increased focus on health and wellbeing. Higher spec IT equipment. Or perhaps greater empowerment and leadership autonomy. These things can all be highly valuable without simply being salary or bonus-based. There are many more too.

5 things to consider when developing your EVP.

Every workforce is different and so is every EVP. That said, there are some key areas to keep in mind when establishing yours. According to Gartner, people look for five core things in a strong employee value proposition:

1. Compensation: No great surprise here, this includes things like salary levels, bonuses and commissions, superannuation and any other job-related benefits. It might include generous allowances for IT equipment and/or travel and work-from-home expenses.

2. Work-life balance: More flexible hours, remote working options and paid parental leave are some of the key things here. Offering easy access to health and wellness facilities (both physical and mental) is also increasingly appealing. 

3. Stability & growth: In such uncertain times, stability is hugely appealing to many employees – both in their current roles, but also by providing clearly-defined opportunities for continued learning and career growth.

4. Location: This doesn’t just mean a physical office or workspace. As remote working continues to rise in popularity, it encompasses the entire work environment, with a culture focussed on flexibility and personal empowerment, supported by access to all the tools and technology your team needs to succeed, wherever they are.

5. Respect: As we mentioned in our last post, employees increasingly want to feel ‘connected to mission’. They want to work for organisations whose values align with their own, with a culture that values positive relationships, support and teamwork. Many employees also want to see this extend beyond the organisation itself, with opportunities to give back to the local community.

4 Examples of interesting EVPs.

A quick Google reveals hundreds of examples of EVPs from all over the world, good and bad. Here are four that caught our eye and may provide some inspiration when penning your own EVP. Importantly each has a simple, memorable theme – but is also supported by real-world detail.

NETFLIX – ‘People over process’

DELOITTE – ‘We’re better together’

CANVA – ‘Be part of the story’

APPLE – ‘Join us. Be you’

Finally, practice what you preach.

Of course, writing an inspiring EVP is one thing, but it’s absolutely vital to follow through. That’s why your EVP needs to be grounded on real insights from within your business and your team. Listen to what they have to say, hear what they really want and value. Then find genuine ways to deliver on them.

Ready for the benefits of a strong Employer Branding strategy? Please get in touch.

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