Why would a highly talented person choose to work for your company? Ed Michaels asked the question in his 2001 book The War for Talent, and the question is still relevant today. The labor market is tight, so it’s hard to find the best East Texas employees and just as hard to keep them.
Your customers have lots of choices. So do the people who apply at your company. You invest in developing your brand image and personality for consumers. Creating your Employee Value Proposition (EVP) is similar to that process, but it’s aimed at employees instead of customers.
Why You Need It
As the name implies, an Employee Value Proposition states the value employees receive when they work for you. When some of us were just starting out, a steady paycheck was compensation enough, but hiring has changed.
The best East Texas employees are in high demand, and they’re choosy about where they work. A strong EVP provides these benefits:
It sets you apart from your competitors. Just like branding clarifies how you are unique, your EVP makes it apparent how working for your organization is different from working for other companies in the same industry. If there’s not something that makes you stand out, all employees have for comparison are job responsibilities and salary. If you don’t pay more and your competitor does, there’s no incentive to choose your company. A strong EVP clearly communicates what else you offer.
An EVP improves retention rates. When you articulate brand values and goals, you attract candidates who support them. Those employees are more likely to be engaged and motivated and less likely to look elsewhere for employment.
The employees you hire strengthen your brand. When they care about the things that matter to your business and embody key organizational traits, they exhibit brand values at every point of consumer contact.
How to Create Your EVP
Decision-makers start by asking why the employees they’re looking for would want to apply, what would help them do their best, and what the company offers that motivates them to stay. Find answers by following these steps.
Step 1 – Identify Objectives
Decide what you want to accomplish through your EVP. Some of the most common reasons companies take the time to develop one is to attract and hire the right candidates, to improve engagement among current employees and reward top performers, to reinvigorate disengaged teams or to accomplish more with longer tenures and fewer hires.
Step 2 – Gather Information
Review employee engagement data, retention metrics and any other statistics you already have. Your best insight will come from talking to current and former employees. They’re the people who understand the best and worst aspects of working for your company. Create surveys, focus groups and exit interviews that ask questions like the following:
- Why did you first apply to work here? Were your job expectations met? Please elaborate.
- What tangible benefits we offer are most valuable in keeping you here?
- What intangible benefits mean the most?
- How would you describe working here to someone who was thinking about submitting their resume?
- For former employees, why did you choose to leave?
Identify your most productive employees and seek to understand what attracts them and why they stay. Use those benefits as part of your workforce planning strategy so your EVP attracts more of the same type of individual.
Prospective employees can offer an outside viewpoint into how your company is perceived to job seekers. Ask what their awareness is of your company’s culture, benefits, growth opportunities and job satisfaction and how they came to that awareness.
Step 3 – Analyze Results
Sift through the data to look for patterns. Are there benefits you offer that don’t seem to matter as much as you thought they would? Are some perks more important than others? In what areas does your company receive negative feedback? Identify ways you can provide benefits that delight employees and differentiate you from rivals.
Step 4 – Draft Your EVP
Take that research and create a simple statement that outlines your brand’s commitment to employees and what they will experience. It should be inspirational while offering a realistic view of what it’s like to work for your organization.
Spell out how your company is making a difference in your industry. Align it with your principles and culture. Then test your EVP with employee focus groups to see how it resonates.
Step 5 – Promote Your EVP
Once it’s created and tested, communicate your EVP through company emails, post it on your website, integrate it into job postings and hang it where employees can see it. Discuss it with new employees during onboarding and review it when people are promoted.
Step 6 – Regularly Reevaluate
Set a timeline for assessing the extent to which your EVP is making a difference in hiring and retention. Go back to your original objectives and see how well you’re doing.
Compare data like employee turnover rates and absenteeism after you implement your EVP to what it was before you had one. Continue to collect feedback from employees about their job satisfaction, what incentives matter most and whether they feel part of a diverse, high-performance culture.
Always Hire the Best
Brelsford Personnel successfully provides high performance employees to businesses in metro Tyler and Longview because we don’t just think in terms of filling a vacancy. We get to know each of the organizations we’re privileged to work with.
When we search our candidate database and prepare a job posting, we look at more than just qualifications, skills and educational experience. Our goal is to provide employees who are a good fit for the company culture and make sure our candidates are in a role that suits them best.
Instead of worrying about finding the best employees or dealing with the consequences of a bad hire, put our expertise to work. Find out more when you get in touch today.