What is an Employer Value Proposition (EVP) and how can you create one?
Your Employer Value Proposition (EVP) is essentially all of your company's core benefits that make up your wider employer brand. Think of it as a promise between an employer and an employee who’s just accepted a job. Your EVP is essentially the perks your company and culture offer them, in exchange for their skills and experience. We’re delving into why it’s so important for your business to have an EVP and how to go about building one.
What’s the purpose of it?
Let’s face it: money is no longer the only driver for job seekers. People want more than just a salary from a job these days. In fact, this study found that stability is a bigger priority for recent graduates than remuneration. Many job seekers also want a friendly culture, learning opportunities, flexible working and so on.
The purpose of an EVP is twofold. The first reason to create a strong EVP is that presenting a list of employee benefits means you’re more likely to attract the right candidate for each role. If a potential applicant can view a comprehensive bundle of the perks on offer, they’ll know what they’re getting themselves into and there will be no surprises when they join. The more extensive and personalised your EVP is, the better a candidate will be able to decide whether it’s the right role – and company – for them.
Secondly, building a well-presented EVP can help to strengthen your overall employer brand. Showing you have a clear vision is something most job applicants will find appealing, so you’ll be more likely to open yourself up to the best talent.
How is an EVP different from your employer brand?
The biggest difference is that an EVP is internal, while your employer brand is external. Your employer brand is how potential applicants and the general public perceive you: think of it as a window into a clothing shop. The window display gives you a vague idea as to what the rest of the shop might be like, so you get a flavour of whether or not it’s to your taste. Your EVP, on the other hand, is a more detailed list of benefits an employee will get from an employer. It’s the exact trousers, shoes and accessories you see when you wander around the shop.
What should you include in your EVP?
Your EVP can be as exhaustive as you like, but here are some key elements to consider including. Try to be as specific as possible, to give potential candidates the most accurate picture of what it’s like to work for you.
Pay and other financial rewards - It goes without saying, but you’ll want to include the salary and any bonuses or commission associated with the job. Have a read of our compensation philosophy to learn how to set an attractive pay strategy.
Benefits - Be sure to include a list of all the employee benefits you offer your team! These are what make you stand out in the talent market and showcase what your company stands for. Offer an awesome wellbeing budget? Mental health support? Private medical insurance? Shout about them!!
Likewise, if your company offers any cool policies e.g., people get an extra day off for their birthday, or remote working opportunities, maybe even a pet-friendly office – say so! These are the kind of ‘nice to have’ perks that can reinforce why your company is the right choice for a candidate.
A description of the role - Of course, people want to know what they’ll be doing on a daily basis. Make sure you list the working hours, duties of the role, team structure and other important day-to-day details that could affect a job seeker’s decision.
Culture and the company’s history - How a company operates and treats its staff can play a big part in someone deciding whether to take a job with you. Sharing your company value, attitudes and approach to learning and development, as well as an introduction to the company’s creators and founding date, can help a job seeker make an informed decision.
Your unique selling point (USP) - What makes your company special? This could be the edge your product or service has over the competition, or a flat hierarchy that puts all employees on a level playing field, or unlimited annual leave – whatever you consider makes you stand out from similar businesses.
Struggling to get started? Here are some examples from other brands to help you feel inspired.
How to write your EVP
Now you know what’s included in an EVP and why it’s so important for recruitment, it’s time to put pen to paper and create your own.
It’s a good idea to ask your Head of HR to write the document, as they’re likely to have an eye for what’s important to job seekers and how best to position your company. They may also have come across multiple EVPs before, and so they’ll recognise what makes a really good one. Having said that, you might want to get input from around the business too. For example, the hiring manager for each role is likely to be best placed to provide the daily duties, and your CEO or founder might have strong opinions on how the culture and company history section is worded.
When writing your EVP, make sure to use clear, uncomplicated language so it’s accessible to everyone. Remember that not everyone is a native English speaker, and some people are from minority groups, so it’s important to use simple, inclusive wording that doesn’t discriminate.
Before it’s finalised, check that it’s based in truth. Your EVP is more than just descriptive sentences brimming with glowing adjectives about how great you are as an employer. It should contain relevant facts and statistics, which may need to be revisited every so often to make sure they’re still correct.
Once you’re happy with your EVP, you can start to bring it to life. That means communicating it across all the key touchpoints, not just in your job descriptions and on your Careers page. You might want to include a copy of the EVP in new joiner welcome packs, for example, to remind them of what they’ll be gaining by working for you. Similarly, if you claim to offer generous parental leave or wellbeing perks, make sure to reference your EVP in your company policies. (Need a hand writing your policies? Try our free, easy to use templates.)
Don’t forget to assess the effectiveness of your EVP once it’s live. You could do this through a number of measures. For example, check if you’re receiving more (or better quality) job applications, or ask people who’ve been at the company for a few months whether they think the promise of the job matches up to the reality. It’s okay to edit your EVP based on these results – you might need to review it anyway if you decide to add new perks to your offering.
That’s everything you need to know about building an employer value proposition to help you hire the best talent, provide a great employee experience and elevate your entire employer brand. Armed with the key ingredients for creating a strong EVP, you’re ready to start writing. Over to you!