Put simply, your Employee Value Proposition or "EVP” is a clear and consistent message about the experience of working at your organisation and highlights the unique aspects you offer that attract, engage and retain top talent. Its why people want to work for you. Your EVP must be at its finest now more than ever, with the market as it is and top talent increasingly difficult to come by. It isn't only about attracting new people; it's also important to prevent your current employees from seeking greener pastures elsewhere. Fulfillment and passion for the business and the brand, are critical for keeping workers happy and your business running smoothly.

A good EVP should be clear, concise, and easy to understand. It should include everything from the benefits and perks you offer, to your culture and core values. Your EVP is a key differentiator in the employment market as it allows you to clearly outline what makes your company unique – this is especially important if you are hiring for skilled roles where there are more job opportunities available than candidates willing to take them up.  When it comes to your EVP, think about what would make you want to work for your company. What are the unique selling points? What makes your team stand out from the rest? Is there a sense of community among employees, or is it a more disconnected work environment? The answers to these questions will help you get started on your path to crafting the ideal EVP for your organisation. The next step would be coming up with specific ways that employees can experience those benefits at their company, then ensuring they actually do so through ongoing feedback and evaluation processes.

In addition to having a great EVP, it's also important to make sure that your recruitment materials are up-to-date and accurate. This includes your website, job postings, social media profiles and more. The way you portray your company to potential employees is just as important as the benefits that you offer them. Finally, creating an EVP is not a once off process, it should be updated and refined regularly to stay relevant for your employees.

How do you create an excellent Employee Value Proposition?

Ever wondered how some companies manage to have amazing reputations for being an ‘employer of choice’ while others struggle to even get on the radar? The answer is their Employee Value Proposition.

The first step is to get input from your employees about the benefits that matter most to them. The second step is to decide which of those benefits can be offered by your company. The third step is combining these to create a formalised EVP that will help you attract and retain staff. The final step is to ensure the benefits are communicated effectively to your employees (and to the market), so people know what's available and how it works for them.

We are a business that constantly has access to a range of company EVP's across Sydney, the team at West Recruitment certainly see a fair share of variety and it's safe to say some are far better than others in their overall offering and presentation thereof - here we share our top 5 areas that your EVP should absolutely define and cover.

1.        Company culture

According to LinkedIn’s global trends report, 67% of candidates are more engaged when companies talk about culture. Your company's culture is the foundation of your business – it sets the tone for how employees interact with each other, with customers, and the world around them. It’s no surprise the best companies have a strong and ingrained company culture that supports their core values while encouraging innovation among staff members. Company culture should be clearly defined and include clear communication both internally and externally about what the company stands for, the values and mission, and a demonstration of how they are incorporated into everyday activities and actions of those who work there.

2.       Company brand

The employer brand is what people think (or how it makes them feel) about when they hear or read about your company. The key is to ensure that this message is communicated clearly and consistently across all channels: from social media posts, email newsletters, blog posts on your website to the way people speak about it in person when talking with friends or family. The employer brand should be positive and authentic for employees at every level of the organisation – from entry-level employees to senior management. The brand should reinforce what makes your company unique as an employer: its values, culture, and employee benefits package as well as innovation and place in the market.

3.       Ensure employees feel valued

Employees are a company’s most valuable asset and employees who are recognised for their hard work will be more engaged in the workplace. The first step is to create an atmosphere where employees feel valued – this could include recognition programs like Employee of the Month, or simply recognition and saying thank you for a job well done. The second step is to ensure that employees have the opportunity to give and receive feedback. This can help improve communication, create an atmosphere of trust, and identify areas where employees need more development. The third step is to provide opportunities for growth and development. Employees who feel they are stagnating in their current role may start looking elsewhere so it's important to provide training courses, internal projects, and new challenges or mentoring opportunities where possible.

Little extras also go a long way - reward employees who go above and beyond their job description with perks like free lunch on Fridays, public kudos, flexible working hours, milestone celebrations etc... Get creative and focus on what you can offer. The list goes on and doesn't have to significantly impact the financials!

4.      Personal development plan (PDP)

A good PDP provides a framework for your employees to achieve their short-term goals as well as long-term objectives career wise, which in turn will create an environment where everyone is working towards common goals – more productive staff members who feel valued by their company are likely to stay longer than those who do not receive support, feedback, enrichment opportunities and encouragement from management.

5.       Benefits package

A 2021 survey by LinkedIn of what matters most to job seekers around the world found that the No. 1 employee value proposition is good work-life balance, followed by excellent compensation and benefits. A strong benefits package is crucial for attracting and retaining talent as well as building employee loyalty and we're not talking ping pong tables, lolly jars, and casual Fridays. The benefits you choose to offer will be based on what's important to your employees, so it's important to include a variety of benefits that appeal to a wide range of people. This could include health and wellness benefits, savings plans, paid vacation days, charity and 'give back' days, parental leave, flexible work arrangements, education, career advancement subsidies, and many more.

The importance of having a great EVP cannot be overstated – it's one of the crucial ways to attract and retain top talent, build employee loyalty, and create a positive company culture. By focusing on your companies’ values, culture, and benefits package you can create an employer brand that resonates with employees and attracts the best talent out there and the best way to prove you're a great place to work is by having your employees sing it from the rooftops!

We would love to hear about your EVP and what engagement strategies you have adopted post pandemic to ensure you capture the talent you need. If you would like some market insights and guidance around your current EVP, please don’t hesitate to reach out to the team at West Recruitment.