With unemployment rates currently at their lowest since the mid-1970s, the job market is arguably in the hands of the candidate. When looking for a job and settling on an offer, it’s frequently the little things that can clinch the deal. A great employee value proposition (EVP) can help rein in the best of the talent pool.
An EVP is comprised of an employee’s salary, benefits, and perks which can include flexible working, private health insurance and cycle to work schemes, among others. It also includes the outward perception of your company. By honing these elements, you can attract as well as retain the best people. Here’s how:
1. Ascertain the outward perception of your company
If candidates like your company and its ethos, it will weigh heavily in your favour. Gather feedback from your past, current, and potential employees. Why did your past employees leave and your current employees stay? Why are your current potential candidates attracted to you?
2. Determine your USPs
Gather your strengths that were mentioned in the feedback – these are your unique selling points (USPs) that are promotable in your EVP. You can now create unique proposals for your candidates while they consider a career with you.
3. Communicate and integrate
Congratulations, you’ve upgraded your EVP – now promote it. Make a point of communicating your EVP as equal to the job description in your job listings. Spread this message throughout your organisation and incorporate it into your internal compensation package. Your best customers are your current employees so make sure you’re looking after them too.
Make sure to regularly review your EVP to make sure that your company image and its compensation package are always at its best.
If your business could benefit from a recruiter with EVP development and implementation experience, contact Resource Management for more information and advice.