A company's Employee Value Proposition (EVP) answers the employee's and candidate's question, “What can you, the company, do for me?” The Employee Value Proposition encapsulates the company's offer strategy for attracting new candidates and retaining current employees.
In the past, jobseekers asked themselves, “What can I do for the company?”, “Why should they hire me?”. As skilled labor has increased there has been a societal shift in jobseekers becoming more vocal about what they want out of their careers and work-life balance. Jobseekers know that their skills and talents are valued and sought after; allowing them to more choosy so that they can focus on their personal and professional growth through their careers. To combat this, companies have had to cultivate their employer brand as they compete to win the war of attracting and retaining top talent.
The Employee Value Proposition is used to communicate internally and externally. Internally, your EVP is at the core of your company's culture, and what drives many of your employees. Externally, the EVP is transcribed into testimonies, articles and stories that can better express to candidates what the company has to offer them.
Creating an Employee Value Proposition is an extensive process consisting of goal setting, gathering feedback from all levels of employees, and a willingness to change for the better. The steps listed below are an overview of the process of creating an Employee Value Proposition: