Employer Value Proposition (EVP): What and why?

What separates the companies that are able to attract good candidates from others? What do the companies that retain their best people do? 

Companies that are successful in recruiting and retaining talented employees often understand the "employer value proposition" (EVP). The employer value proposition is the cornerstone of your employer brand. What positive emotions are you able to create in existing and potential employees?

In this article, we'll explore different aspects of EVP, how it's designed, and why forward-thinking businesses should take this work seriously.

EVP definition

EVP is an abbreviation for employer value proposition. EVP is the sum of the unique benefits, rewards and experiences an employer offers its employees that make the company attractive and competitive in the labor market. Developing this is a key part of employer branding.

What does an EVP actually consist of?

There are a few things that recur in many job advertisements:

• "Competitive salary"

• "Opportunities for career growth"

• "A positive working environment"

• "Extra holiday week"

Is this part of an EVP?

A decent salary and a good working environment are important when choosing a place to work, but it's also quite banal; all serious businesses have these things in place. If you want to be the best in employer branding, you need to be far better than "competitive".

Employee benefits such as a company cabin, extra vacation, gym time, cafeteria lunches and other tempting perks and benefits are often an opportunity to stand out, but it also requires that you have the financial means to do so. And candidates who thrive on extra time off might not be the ones you want?

Where the best workplaces really stand out is that they are able to create positive emotions around working in the business. That's what it's all about:

• A clear identity - Values and mission

• A well-communicated - and attractive - culture

• Unique employee experiences

• Meaningful work

An attractive and clear culture is something everyone has the opportunity to create. But that doesn't mean it's easy. It requires you to understand the processes behind it, how culture is expressed and what it takes to build it over time and create appeal.

It's in the company's identity and culture that the magic is created. This is something we help many businesses with at Mission.

Designing a good EVP

Dale Carnegie - the author of the book "How to Win Friends and Influence People" - once said: "You'll make more friends in two weeks by being interested in others than in two years by trying to get others interested in you." 

A good employer value proposition is a culmination of an employer branding process and begins with taking an interest in your employees - both existing and potential. Understand their needs and expectations; what do they want from their workplace? What makes their work meaningful? What do they want their working day to look like? What elements of the company's culture are they particularly fond of?

In this process, you also need to map your competitors and, just like in branding, find out how you can stand out in a positive and distinctive way.

Our goal when we help customers with employer branding is to end up with an EVP story and an EVP statement. It should be a story that employees recognize and can retell. Something that makes it easy to associate positive feelings with you as an employer.

Examples of successful EVPs

CRM company Salesforce has a distinct EVP based on the "Ohana" culture. This Hawaiian term means"family", but also "nest" and "extended family". This kind of cultural peg makes it much easier to convey what kind of work environment the company is trying to create and what it's like to work there. It also makes it easier to choose which employee benefits to focus on. In Salesforce, good pension schemes and health insurance are a natural part of the EVP.

Google's EVP statement is "Do cool things that matter". Who doesn't want to do that?

In their brand identity work, Evry managed to reduce employee turnover by 40%. Their focus was "Digital Advantage" and with that focus in both external and internal brand work, they were able to differentiate themselves from competitors who only talked about digital transformation and change. Transformation hurts. Advantage does good. And while gaining digital advantage is the same as transformation, the approach is more positive. The Digital Advantage EVP creates positive energy

Why employer value proposition?

It's expensive to recruit. It's expensive to lose good people. It's expensive to hire people who don't fit in. By having a clear "employee promise", you avoid people wondering what kind of company they're applying to work for. You avoid employees wondering if they really fit in.

EVP is important in brand building: If you can't get your employees to believe in the brand, you don't stand a chance in the market! It's the employees who will take the brand out into the world. They are the ones who meet the customers.

A strong EVP not only attracts top talent, but also fosters loyalty among existing employees. Employees who take pride in the work they do and the brand they represent make managers' lives much easier.

And not least, such an EVP/employer branding process gives managers insight into what's really going on in the hearts and minds of their employees. And that's where the value is greatest.

Frequently Asked Questions about EVP (FAQs)

What is the main purpose of an employer value proposition?

• The primary purpose is to attract and retain good employees by showing the unique benefits of working for a particular company.

How often should companies update their EVP?

• Regular updates are essential to ensure that the EVP remains relevant in the face of changing workforce expectations.

Can small businesses create influential EVPs?

• Absolutely. A good EVP can go a long way in the battle against larger established businesses and show that potential employees are helping to build something.

How does diversity contribute to a compelling EVP?

• Diversity and inclusion initiatives contribute positively to an EVP by creating an inclusive and supportive work environment.

Are there specific KPIs to measure the effectiveness of the EVP?

• EVP key performance indicators, such as employee satisfaction, turnover and successful recruitment, help measure the impact of an EVP.

A good employer branding strategy can be the key to attracting and retaining the best talent. At Mission, we have extensive experience in this area and are happy to help you develop a comprehensive strategy that includes a strong employer value proposition (EVP).

Get in touch with us on 24 10 35 00 or send an email to hello@mission.no for a no-obligation chat about how we can help you strengthen your brand as an employer.