The hiring process has changed in recent years. Talent and potential candidates don’t look just for a salary now—they want a workplace that values them and gives them purpose as well. So, if you’re still focusing just on providing a high salary, without talking about your organization’s culture and amenities, you’re losing out on the top talent.
This is why you need to focus on your Employee Value Proposition (EVP). In this post, we’ll break down what you need to know about EVP and how it can help you attract and retain the best employees!
An Employee Value Proposition (EVP) is the set of experiences and benefits that you, as an organization, offer to your employees.
Think of it like this: Your EVP will dictate the narrative of the most important question on the candidate’s mind, “Why should I work here?”
The EVP bridges the gap between your brand’s external image and your internal work culture. If your brand seems employee-friendly from the outside (due to the image it’s built), it should offer benefits that align with this image.
This is why companies like Microsoft, Adobe, and Alphabet regularly make it to the best employers lists. Every corporate employee around the world wants to work at these companies because they value their employees’ growth and well-being.
In short, if your organization provides a strong EVP, you’ll never face a lack of top-tier candidates.
There are 5 components in an EVP pertaining to what employees want from their employers. Let’s check them out:
Salary: Of course, the salary is the first and foremost aspect that candidates consider. They want a salary that aligns with their experience, skillsets, and the new role’s requirements.
Benefits: Apart from the salary, the company must be willing to provide benefits like parental leave, healthcare, and pension fund contribution.
Career Development: No employee wants to join a company that has a poor track record of investing in its employees. Candidates want to be given the opportunity to upskill and use their newfound skills in bigger roles within the company.
Work Culture: A toxic work culture leads to burnout, unproductivity, and low retention rates. Create a workplace culture that values employees, listens to their feedback, and recognizes their contributions.
Purpose: When hiring for senior roles, you’ll have to ensure that your purpose, mission, and company vision can create a long-term impact. Employees (especially those in upper management) want to work for organizations that have a long-term plan that highlights a specific goal.
Together, these 5 components will dictate the quality of talent that you attract, and how many of your current employees you retain.
Your EVP is an excellent determinant of your employer branding. Employees don’t just look for vague phrases like “great work culture;” they want concrete examples that showcase how you treat your workers.
With a strong and well-defined EVP, you set the bar for the organization’s external image.
Here’s how your EVP can help you with your employer branding:
Do you have a lengthy blog or multiple pages highlighting why employees should choose you? Chances are that they’re not converting as much as you’d like them to. But, if you consider shorter attention spans and a desire for transparency, you can pair your existing content with interactive video marketing.
You can repurpose the content into interactive experiences for potential candidates, providing them an immersive experience that’s authentic and transparent.
Let’s understand this in a little more detail:
Your EVP shouldn’t be like a single-use tissue. You need to craft an EVP strategy that not only bridges the gap between what the employees want and what you offer, but also evolves continuously. This is a lengthy process, but highly rewarding as well.
Here are the steps you can take to build an EVP strategy that converts.
Without a doubt, this is the most important step of the entire process. Your EVP won’t be compelling if it doesn’t actually understand what employees want from their organizations. You can start by talking with your current employees and taking their feedback.
Another effective method would be to create a focus group. Also remember to use the insights you get from salary negotiation interviews and exit interviews, as this can also be incorporated into your EVP.
These methods will give you on-the-ground data that’s highly relevant to the work culture demands of today.
Once you’ve gathered the feedback or data about what employees value, it’s time to tally that with the organization’s goals to find an effective compromise. Not every employee ask can be fulfilled without incurring losses. So the idea is to find a middle ground that offers enough value in core areas, while ensuring that it can meet the organization’s requirements.
For example, if career development is something that the employees are asking for the most, check how your organization offers learning opportunities. It could be courses and sponsored education opportunities relevant to the organization’s requirements.
If you’re not offering these, then you’ll have to realign the EVP accordingly or change your approach to career development.
Imagine that you’ve created a great EVP, but it’s not converting and attracting the best talent. In this case, chances are that you aren’t sure how to communicate effectively about your EVP.
So here’s how you can remedy this issue:
We already know that social media is a great tool for communicating and creating your brand image. When you combine this with interactive video content, you can reach much wider audiences and attract amazing talent for your open roles.
Use interactive videos to highlight work culture, benefits, amenities, and employee testimonials. This will give a high-intent signal to prospects that you’re willing to work hand-in-hand for their career, as well as the organization’s goals.
Your EVP can be best communicated by current employees. Encourage them to share their experiences with the company on social media. They can talk about their onboarding experience, general work culture, and specific instances of how a helpful and collaborative team helped them through difficult periods.
This not only gives a great storytelling aspect to the EVP, but also provides much higher engagement (up to 8x higher engagement than brand stories, in fact).
You won’t know how great your EVP communication is unless you start tracking performance metrics. Here are a few important figures to monitor:
If you’re still not convinced about how important your EVP is, take a look at these real-life examples:
These companies’ EVPs are strong examples of how the right optics can guarantee the best candidates for every major role.
EVP and recruitment marketing will head towards more AI-driven creation and personalization. This will lead to hyper-personalization in recruitment efforts, with teams using data to tailor experiences based on candidate requirements.
With Interactive video marketing and creation platforms, like Life Inside, recruiters will use interactive content to provide insights into the company’s work culture. This can include messages from leaders, virtual office tours, and behind-the-scenes videos.
Moreover, employee-generated content will have a strong foothold thanks to the authenticity factor. Prospects will check employee testimonials and experiences to gain a better understanding of the company’s various processes.
Life Inside is an interactive video platform that helps you create interactive videos for your EVP communication. You can add interactive elements like polls, quizzes, forms, and “choose your own adventure” narrative video funnels.
The platform allows you to create and automate the distribution of these videos across all your channels, including website landing pages and social media accounts. It’s also easy to integrate into your existing recruitment marketing tech stack!
To truly connect with the best talent and put the spotlight on your EVP, sign up for Life Inside today!
Video content, especially interactive video content, can give a tangible and authentic look into your organization’s work culture and benefits. With employee testimonials, you can build brand trust, leading to higher engagement and career page conversions.
Leading companies take their employee feedback into consideration, ensure that this feedback aligns with the organization’s vision, and constantly evolve their EVP communication. This ensures they’re always ahead of trends and apply an authentic approach to all their EVP touchpoints!