Hueman Blog

What Is An Employee Value Proposition (EVP)?

Posted by Joe Marino

Two women in chairs smiling

Do you know the definition of an "employee value proposition" (EVP)?

An EVP is a statement communicating the value your company's employees gain from working in your organization. Defining your EVP and communicating it to job seekers is critical to becoming a World-Class Recruiter.

In Hueman's experience, businesses with a clearly defined brand and EVP are more successful in both recruiting candidates and retaining good employees.

What can an employee value proposition do for YOUR company?

  • It can attract top talent for your business
  • Explain why someone should work for you
  • Help candidates discover if they would be a good fit for the job
  • Attract more desirable and competitive candidates for your business
  • Grab the attention of candidates who value a company's clear vision and mission

Why is an EVP important?

Did you know 84 percent of the world's top 100 most attractive employers have an Employee Value Proposition? Companies such as Google, Microsoft, and Apple are more successful because their leadership has invested the time to think through their company's values, mission, and ultimately, what they stand for as a business.

In great companies, leadership translates that into action items to improve the experience of their employees.

According to Gartner, companies that effectively deliver their EVP can:

  • Increase new hire commitment by 29 percent
  • Decrease annual employee turnover by 69%

If your business does not already have an EVP, at the very least you should create one for your specific hiring needs. The goal of your EVP is to succinctly communicate what's unique about your company culture. In a few sentences, articulate:

  • Who you are? - Employer Brand
  • What do you do? - Recruitment Strategy, Opportunity
  • And why do you do it? - People, Benefits and Rewards, etc.

Think of an EVP as your company's elevator pitch!

After you define your organization's EVP, represent it digitally in a consistent way across all job sites, company review sites, Google, etc. You want to make sure that your EVP is a true representation of your company. Whether it be relatable, emotional, selling the experience, ambitious, or all of the above.

Having an employee value proposition forces you to see your company through the eyes of prospective employees.

Check out our employee value proposition and that of other companies below:

icon-blue-hueman-rpo-logo-transparent-background

 "Creating great employment experiences by building a people-centric culture"

Hubspot Logo
Hubspot

"We're building a company people love. A company that will stand the test of time, so we invest in our people and optimize for your long-term happiness."

 

Google Logo

Google

"Together, we create access to information and build products that improve people's lives."

 

Nike Logo
Nike

"We lead. We invent. We deliver. We use the power of sport to move the world."

 

Loreal Logo
L'Oreal

"Lead the future of Beauty. When you love your work and the people you work with, amazing things can happen."

 

Microsoft Logo
Microsoft

"We believe in what people make possible; Our mission is to empower every person and every organization on the planet to achieve more."

 

Hyatt Logo
Hyatt

"To care for people so they can be their best."

 

Happiness is the ultimate employee value proposition.

In the long run, developing a strong EVP will help communicate your "offer" to job candidates and potential employees. It also defines your brand strategy for talent acquisition that leads to better employee engagement and an increase in the candidate talent pool.

Happiness is the ultimate employee value proposition.

For constant growth of your business and consistency, collect data on how employees perceive your company's EVP. You can do this through performance reviews or employee surveys. Employee needs and expectations based on recruitment and retention metrics can also indicate how well your EVP fits.

After developing an EVP, it's important to keep it relevant for your current workforce. Continue to implement, review, and measure your company's EVP on a recurring basis. Doing so will guarantee that it stays aligned with the value of your company and what it offers. Taking the steps outlined in this article to craft an exceptional Employee Value Proposition will set you on your way to attracting great candidates and retaining more employees.

To learn more about EVPs and world-class recruitment, download our World-Class Recruitment Guide.

Topics: recruitment, Digital Recruitment Marketing