As an employer, one of your top priorities is to attract and retain top talent. In order to do this, you need to have a clear and compelling message that outlines the benefits employees can expect to receive in return for their contribution. This message is known as an employee value proposition (EVP).
The EVP is different than the Employer Brand, which is the external messaging you cultivate to communicate the benefits of your company to perspective talent. EVP is the internal culture, values, compensation packages, and experience of your current employees. They work together to ensure you have the top talent competing to be a part of your organisation.
Offer Competitive Compensation
There are several key elements that should be included in an EVP to help you attract talent. First and foremost, your EVP should include information about the competitive salaries and benefits that you offer to your employees. Not only a key element when presenting an offer to a candidate, the benefits are a big part of keeping your staff for longer. This includes things like health insurance, retirement plans, remote work options, and other perks that can help to make your company an attractive place to work.
Development and growth Opportunities
In addition to competitive salaries and benefits, your EVP should also highlight the opportunities for growth and development that are available to your employees. This could include things like training and development programs, mentorship opportunities, and career advancement paths. You can alleviate employee turnover through good progression planning and training.
By offering these types of opportunities, you can show potential employees that your company is committed to helping them grow and develop their skills and careers.
The Employee Experience
Another important element of an EVP is the work environment and company culture. In order for new staff to be effective they not only need to be able to do the job, but they need to align to the values and ethos of the team. This could include things like a flexible work schedule, a collaborative and inclusive culture, and opportunities for employees to engage in team building and social activities. Sometimes the technology you offer your teams to do their job can make a huge impact on their work satisfaction. There are a multitude of elements that come together to create the employee experience.
The company values, a positive work environment, and fostering team collaboration can build an EVP which will attract applicants who align with your companies’ values.
On A Final Note
Ultimately, an EVP is an important tool for employers who are looking to attract and retain top talent. By clearly outlining the benefits and rewards that employees can expect to receive in return for their contributions, you can create a compelling message that will help to attract the best and brightest to your team.
Looking for someone to help you craft your Employee Value Proposition? Get in touch with Lisa today for a chat about how we can help you attract, retain and engage with your employees through your internal brand and marketing.
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