Employee Value Proposition aka EVP is a set of values which are offered to the employees by their employers. They are often used to attract new hires and also help to engage and retain existing employees. It is basically the total package which employee gets in return of their time and effort invested in their performance at workplace. It is important to stress out that it’s more than just a simple addition of compensation and benefits. A great EVP is actually a balance of tangible and intangible rewards like flexible working hours, comfortable company culture and meaningful projects to work upon.
EVP is essence of the company which is directly impacts the talent and experience value propositions of the company. As per latest market survey, HR professional’s claims that current recruitment market is 90% candidate driven which means companies don’t pick up talent anymore but Talent picks companies.
To retain top performers and attract best external talent company should create a compelling EPV package. Company should gather information with the help of employee surveys, exit interviews and feedbacks from former associates to understand the existing perception of your company brand and culture. While designing the EVP, determine and test all the key selling points which makes an individual want to work for you. Once it is finalized, make sure the message is clearly communicated through all possible channels to all the crowd you want to attract.
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