Companies usually create an Employee Value Proposition or an EVP to make a consistent platform for employer branding and experience management. This is a great way to attract job candidates.
By definition, an Employee Value Proposition is a set of associations and offerings that are given by an organization in return for skills, experiences and capabilities that an employees provides to the firm.
In terms of an EVP, it is primarily employee-centered and is something that is already existing. It is integrated deep within the planning strategies as it is created by existing employees and the external target audience. For an EVP to flourish, it should be unique, compelling and relevant as it acts as a decision maker for talent attraction, retention and engagement. In this way, the Employee Value Proposition will create a unique set of values and offerings that positively influence targeted candidates.
Role of Employee Value Proposition
Recruitment has changed drastically compared to a few years ago. Now, candidates have more power during a job search. The current job market is 90% candidate driven. This means that you don’t pick talent but the talent chooses you.
In order to ensure that you are picked as the employer of choice then you need to trigger your perfect candidates’ interest based on differentiating the company from the competition. In this way, you will have to present your brand as an employer built on strong EVP and through strong recruitment marketing strategies.
The new method to engage with EVP is more efficient and easier through the mode of Inbound Marketing. The marketing methodologies needed to recruit and hire professionals is called recruitment marketing. This helps with creating a better experience for the candidate and builds on candidate engagement.
Key Building Blocks of Employee Value Proposition
You should know that employee value proposition is more than just your salary. Here are the elements that make up a successful EVP:
1. Compensation: Salary satisfaction, raises and promotions, timeliness and fairness.
2. Benefits: Time off, holidays, insurance, retirement and flexibility
3. Career: Stability, training, career development, education, consultation and evaluation
4. Work environment: Recognition, autonomy, achievements, challenges and understanding the roles and responsibilities
5. Culture: Understanding goals and plans, colleagues, leadership, support, trust and social responsibility
Five Steps to Create an Employee Branding Strategy
When it comes to developing a EVP, you need to first create an employee branding strategy that will go a long way in determining your EVP. Here are 5 major steps in defining the employee branding strategy:
1. Set your goals: Get applicants, improve presence, and reduce time and cost to hire
2. Identify your candidate persona: Learn about the characteristics of your perfect job candidate.
3. Define your Employee Value Proposition: What does your employee currently like about you as an employee?
4. Define channels and candidate touch-points: Where and how will you promote your brand?
5. Measurement: Measure the results of your strategy and efforts and adjust accordingly.
In order to make this possible, you should use these 5 EVP promotional channels that include recruiting events, career sites, social media, employee referrals and email campaigns. While keeping this in mind, you should know that the main reason for 43% of professionals leaving jobs is due to a limited career path.
You should develop content and a clear communication channel to promote your Employee Value Proposition. The best way to do it is to determine candidate personas. In the process, you will learn to master the right type of content and promotional channels needed to appeal to candidates.
Arnold Consulting Pvt. Ltd. provides leading global staffing solutions and we will do our best to help you on your way to your next role. Send us your updated resume to email@example.com today!