Employer Value Proposition (EVP): What and why?

What distinguishes those businesses that are able to attract good candidates from others? What do companies do that retain their most talented people? 

Companies that are successful in recruiting and retaining talented employees have a good understanding of their employer value proposition (EVP). Your employer value proposition is the cornerstone of your employer brand. What positive emotions do you create in your current and potential employees?

In this article, we will explore various aspects of EVP, how it is 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, which make the business attractive and competitive in the job market. Developing this is a central part of the work with employer branding .

What does an EVP actually consist of?

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

• “Competitive salary”

• “Opportunities for career growth”

• “A positive work environment”

• "Extra vacation week"

Is this part of an EVP?

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

Employee benefits such as company cabins, extra vacation, training time off, canteen lunches and other tempting benefits and perks are often an opportunity to stand out, but it also requires that you have the financial means to do so. And candidates who crave extra time off may not be the ones you want most?

Where the best workplaces really stand out is that they manage to create positive emotions around working in the company. It's 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 is in the company's identity and culture that the magic is created. This is what we at Mission help many businesses with.

Designing a good EVP

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

A good employer value proposition is the culmination of an employer branding process and begins with taking an interest in your employees - both existing and potential. Get to know and understand their needs and expectations; What do they want from their workplace? What makes work meaningful? What do they want their workday to be like? What elements of the company's culture do they particularly enjoy?

In this process, you must also map out competitors and, just like in branding, figure out how you can stand out in a positive and distinct way.

Our goal when helping clients with employer branding is to end up with an EVP story and an EVP statement . It should be a story that employees can identify with and 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 ". Such pegs to hang the culture on make it much easier to convey the 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. At Salesforce, good pension plans and health insurance are a natural part of the EVP.

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

In their work on brand identity, Evry managed to reduce employee turnover by 40%. Their focus was "Digital Advantage" and with that focus in both external and internal branding work, they were able to differentiate themselves from their competitors who only talked about digital transformation and change. Transformation hurts. Benefits do good. And although extracting digital benefits is about the same thing as transformation, the approach is more positive. The EVP "Digital Advantage" 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 for. You avoid employees wondering if they really fit in.

EVP is important in brand building: If you can't get your own 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're the ones who meet the customers.

A strong EVP not only attracts top talent, but also fosters loyalty among existing employees. Employees with pride in their work and the brand they represent make the lives of leaders a lot easier.

And last but not least, such an EVP/employer branding process gives managers insight into what is 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 showcasing 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 carry weight in the fight against larger, established businesses, and show potential employees that they are building 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 EVP?

• Key EVP indicators, such as employee satisfaction, turnover, and successful recruitments, 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 work and are happy to help you develop a comprehensive strategy that includes a strong employer value proposition (EVP).

Contact us at 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.