Employee Value Propositions (EVPs) are a growing consideration for HR departments, business owners and internal recruiters. A recent Glassdoor survey suggests that two thirds of employees, would choose culture over salary when considering their next role.
89 percent of UK adults believe it is important for an employer to have a clear mission and purpose, 77 percent would consider a company’s mission before applying for a job there, demonstrating just how important a clear mission is to recruitment, and, 60 percent of employed UK adults say their company’s mission is one of the main reasons they stay in their job. EVPs are a way of helping employees see the role that they play in that mission.
Using EVPs to grow employee loyalty
With a growing emphasis on creating a holistic workplace experience for their staff, employers are looking to Employee Value Propositions (EVPs) as a way of enticing top talent into their companies, earning their loyalty, and showing them the value they add.
EVPs are a way of defining the unique culture and essence of your organisation and distilling it into the perceived benefits of working for the company; the things that will motivate a candidate to be a part of the team and give their best to it.
As workplaces begin to reopen, many employers are looking at ways to re-connect with their staff and make sure they can attract new talent.
With compensation being only a small part of what candidates now consider when making a choice between roles, there’s never been a better time to begin crafting your EVP.
Some of our favourite EVPs:
Innocent says they’re only as good as the people that work for them, and they work hard to attract talent – or “game raisers”. On top of a dizzying list of benefits including free breakfast, mental health resources, scholarships, paid parental leave, Innocent’s EVPs prioritise training and development for their people. They run courses to develop leadership courses and emotional intelligence, and they encourage people to own their personal development.
“Be a part of the story”
Canva have a range of benefits on offer to their employees – free gym memberships, breakfast and lunch prepared on site, a relocation budget
and more. Canva’s EVP emphasises that every individual employee has an impact on the company’s mission, and that they’ll have a host of opportunities to grow as they do.
“We want you to achieve success that matters to you.”
Toyota’s EVPs are organised around driving employee engagement and work/life balance. They offer cycle to work schemes, free lunches, flexi-time, and buy/sell holidays, but they also put effort into surveying colleagues at all levels to hear their voice.
“Freedom over Responsibility”
Netflix uses their unusual employee culture as a hook. They build a “dream team” and encourage independent decision-making by employees – aiming for everyone to become leaders in their own right.
Working harder to attract talent
It’s no longer the case that employers can argue necessity for their staff being in the office. Which means making their workplace culture irresistible, both in the office and out of it, must be high on the list of priorities for businesses wanting to attract the best talent on the market. Your EVPs are going to become the crucial differentiator that sets you apart.
Use your EVPs as a way of showing your employees the value they will bring, and the value they will receive in return for their hard work.