Jobs are no longer viewed as merely a means to pay the bills. Candidates are seeking experiences that align with their values and beliefs, provide growth opportunities, and offer fulfilling work. Through your organization’s employee value proposition (EVP), you can communicate how your company will meet these expectations to stand out from your competitors to attract and retain top talent. Here are reasons why your company needs a strong EVP along with some examples.
Your company’s EVP is important in the recruitment process because it tells a candidate why to apply for a position at your organization. 75 percent of employees research a brand before submitting a job application. A strong EVP demonstrates to candidates what your organization offers in terms of company culture, growth opportunities, and benefits. Highlight your EVP in your job postings, on your website, and anywhere potential job applicants are searching for employment. An effective EVP can also help attract passive candidates not necessarily looking to change employers.
A strong EVP can help to retain your top performers by keeping them engaged and invested in your organization. Without a strong EVP, your employees can become disengaged and forget why they came to work at your organization in the first place. Gallup’s State of the Global Workplace report found that 85 percent of employees are not engaged–or are actively disengaged–at work resulting in approximately $7 trillion in lost productivity. To retain your top performers, it’s important to remind them of all the benefits your company offers by effectively integrating your EVP into the day-to-day operations of your business.
Examples of EVPs
Here are a few excerpts from examples of strong EVPs.
- “We are stronger as a result of the diverse strengths, styles, cultures, and experiences of our people. With different perspectives come different solutions that enable us to win for our stakeholders. We are one global team in which everyone has a voice and can make a difference. We ensure our people can fulfill their potential through individual development plans, on-the-job learning, and various formal career development programs. Providing our people with the opportunity to grow, gain experience, and take ownership moves us closer to realizing our winning aspiration.”
- “We may be young, but we take care of our employees. We focus on flexibility, and we reward excellence and contributions to our mission. Ultimately, this helps to nurture a community that inspires growth and innovation, so that together, we can make healthcare more affordable for employers, employees, and their families. You’ll have a platform to develop your skills. Furthermore, you can take on stretch assignments and be part of a unique brand that is shaking up the broken healthcare system. Our team is ready and willing to embrace innovative methods, including virtual and remote work arrangements, to ensure everyone can deliver their best. To stay connected, regular full company huddles give everyone a chance to engage directly with senior leadership – with no question off-limits. Our great benefits include medical, dental, vision, life, and disability insurance, a 401K plan, access to a health savings account, and a commuting and dependent care FSA. Furthermore, in addition to base pay, employees have the opportunity to earn bonuses and equity, so they can share in our company’s success.”
- “We recognize that our true strength is our people–people from different backgrounds, with different experiences, and different ways of thinking. While we boast a global presence, our managers and employees work hard to maintain a “small company spirit”. We provide an excellent working atmosphere that encourages an entrepreneurial attitude, open communication, and collaboration from the shop floor to the senior management team.”
- “We refuse to do things the way they’ve always been done. Motivated by a collective commitment to a sustainable future, we work to build an inclusive environment in which everyone—regardless of gender, race, religion, age, or background—can succeed. We’ve replaced corporate hierarchy and bureaucratic conventions with open communication and a collaborative working environment. By promoting a safe, innovative, and inclusive culture, anyone with the talent, energy, and focus to solve hard problems has a seat at the table. We provide employees and their families benefits like medical, dental, vision coverage, 401(k), and generous paid time off from day one. With flexible scheduling, fitness resources, and stock benefits for everyone, we invest in team members to help them do their best work.”
- “One Team. One Purpose. Many Voices. We trust in each other and are united in the service of our customers and our purpose. Collaboration, transparency, and mutual trust form the foundation of our team culture. Every voice and action matters. We aren’t afraid to take initiative because we’re upstanders, not bystanders, all of us active contributors to our culture and growth.”
With the current economic recovery and labor shortages, job seekers are experiencing a candidate-driven market where jobs are abundant and top talent is scarce. Candidates receive multiple job offers—providing them with more bargaining power. Counteroffers—used as a negotiation tool to help entice an employee to stay—are commonly used in response to an employee’s resignation announcement. To stand out among your competitors, it’s important to have an effective EVP to attract, engage, motivate, and retain employees toward peak productivity and brand advocacy.
For more information and some helpful tools, read our guide—How To Develop a Compelling Employee Value Proposition.