What is an EVP and how is it created?
It is the answer to the question “What do you promise for me to start working in your company (or stay here)?” to be asked by a candidate or an employee. It describes what it is like to be working in your organization as well as its functional (salary, side benefits etc.) and emotional benefits (culture, working environment, colleagues etc.). It is the set of values that differentiates you from your competitors. It is the most important factor in the candidates’ decision-making.
Why is it important?
A well-structured EVP is important because it will reflect the facts of your company and differentiate you from your competitors in the labour market with clear statements. You express what you promise to your candidates and employees and what kind of an employer and company you are in the clearest way. It prevents confusion. It also helps you bring forward your propositions other than salary and fringe benefits. It makes it easier for you to prioritize the tasks you will fulfil as the HR team. It should also answer the following questions:
Do we make promises to our employees that we can keep? Do we allocate our energy to the right things? What characteristics do we have that we can bring to the fore other than the salary and side benefits?
What are the elements of a good Employee Value Proposition?
- A very well-defined target employee profile
- Main promise (your other promises will cluster around this)
- Clearly-stated other promises
- Convincing elements to support these promises
- Your expectations in return for the values you promise
How is it created?
Among your promises are such emotional benefits as the cultural characteristics of the company, its position in the market, its working environment, and the benefits it provides to society as well as functional benefits such as the salary, personal and professional developments and the side benefits. In some way, you describe the day-to-day experience of an employee at the work place. First of all, list those characteristics that your respective industry and the labour market cannot promise. All this work should be in accordance with your corporate/product brand. Do not create an EVP that does not connect with your company’s stance or overlaps with its values. Revisit the facts you revealed at the discovery stage. Can they be promised? Or what are the things you can promise? Do not forget that the promises you make to the candidates must overlap with the realities experienced inside. Broken promises will only increase your employee turnover rate leading to enlarge your recruitment department.
The first questions to find answers to:
How do we want to be known as an employer? What is our most important characteristic as an employer?
What can we promise to the people who will work with us?
When answering your questions, you can check the validity of the list you made with four follow-up questions.
- Is your EVP reliable and convincing?
- Is it suited to our vision; will it gain us momentum on our way to our target?
- Will it make us different from our competitors?
- Will it attract the target employee profile that will take us to the future?
Now you have an employee value proposition that reflects the facts about your company and will engage and satisfy the employee who will take your company to the future.
Arrange the target employee profile and EVP in accordance with the current realities of the company, its vision, and its future. Should there be any conflicting situations, you can arrange them gradually, step by step. You may test the elements you have arranged with focus groups or move directly to the next step.
You can download the Employer Brand book here: http://lp2.aliayaz.com