Amid the downsizing and economic downturn, employee disengagement has risen to be a critical issue across a variety of organisations.
One of the main causes of this disengagement is as a result of the massive changes employees have experienced when it comes to their employment value proposition (EVP). To put it simply, the value that employees gain by working for a particular organisation has altered dramatically as companies struggle to stay afloat.
An EVP is the commonly used term to describe the characteristics and appeal of working for an organisation. It’s more than just salaries and benefits; it reflects the entire employment experience from culture and management style to career development and reward. It is the deal struck between an organisation and employee in return for their hard work and performance.
But as companies begin to emerge from the global crisis, particular attention must be paid to their EVP. Even more so, as organisations compete to secure and attract the best talent in an increasingly candidate-rich market.
Here are some tips to help you create an effective and successful EVP.
Understand existing views: To develop a strong, realistic EVP, you must first understand what perceptions existing staff have about your company brand and culture. Brain storm with employees and find out what attracts potential candidates to your company? What do existing employees value most about working with you? Why do they stay? Why do they leave?
Differentiate your EVP: Differentiation is crucial if an organisation wants to stand out from the crowd. Consider what makes your company unique and what you stand for. Determine the aspects of your business that people value most and use this to draft an EVP.
When identifying your USPs, consider whether you have painted a realistic picture of what it’s like working for your company. Does it appeal to different groups? Are you able to clearly differentiate your company?
Creatively Communicate your EVP: Once you’ve defined and differentiated your EVP, find ways to communicate it to the people you’re trying to attract. It’s particularly important to ensure your EVP is conveyed within your hiring channels, including company website, social profiles and the interview process.
You also want passive candidates to form a positive perception about the value of working for your company. As such, additionally communicate your EVP through PR, marketing and branding.
Cultivate Brand Ambassadors: Existing employees are your most powerful source of promotion. Not only will they play a key role in helping to attract talent, but they will also ensure that such talent has the right culture fit.
Bearing this is mind; ensure your employees can see consistency in the image you sell externally, and in the day-to-day reality of working for your company.
Monitor Your EVP: Companies are constantly evolving, so remember to review your EVP annually to ensure that it continues to reflect the changing employee experience.
When used and communicated effectively, an EVP becomes a powerful tool in connecting employees’ desires with what the employer provides.
Those organisations that do invest time and energy to rebuild their EVP will not only benefit by employee performance in their current environment, but will also benefit from improved retention and star attraction.