Growing organizations have a great opportunity to design their employees’ experiences in ways that attracts top talent to work with them. Yes, salary and benefits competition with the traditional market (esp. the big players) will persist for a few more years, however this might soon be outweighed by the rising interest and demand of talent to work for purposeful organizations that are clearly communicating and delivering their promise to employees.
Besides salary and health cover, a lot of the value you can provide to your employees evolves around their non-monetary needs: growth, learning, belonging, enjoyment, purpose, fairness, autonomy, achievement, fulfilment, balancing personal and work life, friendship, support etc.
Having an Employee Value Proposition means defining what employer you want your organization to be, and then consistently delivering that value.
Want to start the journey of creating your own EVP? Start small with the steps below!
- Research internally: Ask your current team (especially the longest serving employees): Why do they like working in this organization? Get honest feedback on what don’t they like, too!
- Benchmark with similar organizations in your space: What are they doing that is increasing their employee retention? What are they doing or not doing that is increasing their attrition? Then define what you can borrow or do differently!
- Find out: What do candidates interested in a career in your space want from their employers?
Define how you want job seekers to perceive you
- Take time to define: What value do you want to promise your employees? Both current and future potential candidates. What is your strategy to achieve this?
- Live your promise! Put in place activities that will foster the kind of employer brand you desire (more tips in blog below). Your daily actions should be a true reflection of your promise! Your new employees will only stay if they receive what they signed up for.
- Communicate! Keep talking about why you are the best organization to work for. Externally in events, workshops, conferences, use social media, your website, remind employees e.g. through rewards and recognitions for a) those who are adding more value by living the org values b) those who refer candidates that are successfully hired and retained
Keep track of the impact of your employer brand!
- Measure. Consistency is key. Keep yourself in check though monitoring and tracking your employer brand. Number of applications for jobs advertised? What is your retention rate? How satisfied are your current employees? What is your cost per hire? How far and wide is your brand known?
- Keep innovating on activities to position you as an attractive employer!
- Remember our post on why people resign? Avoid broken promises.
We wish you all the best, we would love to hear how the journey unfolds for you!