How to activate your Employee Value Proposition (with examples)

Key Takeaways

• An Employee Value Proposition (EVP) is a strategic offering by companies that encompasses benefits such as compensation, culture, career development, and work-life balance to attract and retain top talent.
• It’s at the core of your Employer Brand, but lives everywhere from your recruitment marketing to team engagementand advoacy.
• Activating your EVP involves bringing it to life in a way that resonates with both current employees and potential candidates, often through employee-generated content, especially video testimonials.
• A compelling EVP aligns with the company’s mission and values and includes elements like employee advocacy and showcasing via digital platforms like employee videos to enhance employer branding and engagement.
• Effectiveness of an EVP can be assessed and optimized through feedback mechanisms, tracking retention, and leveraging platforms like Seenit to create authentic, relatable employer brand content.

Understanding the Employee Value Proposition (EVP)

An attractive employee value proposition (EVP) offers an insight into what an employee can expect in return for their work at a company, reflecting the unique offerings and competitive edge of a company in the market. A great employee value proposition can be a game-changer for organizations looking to attract and retain top talent. To better understand this concept, one can look at various employee value proposition examples available online or within industry-specific resources. In a similar vein, an employer value proposition focuses on the unique benefits and offerings that a company provides to attract and retain top talent. By developing strong employee value propositions, companies can effectively communicate their EVP and stand out in the competitive market.

An good EVP can:

• Influence an organization’s ability to attract top talent
• Engage current employees
• Ultimately contribute to the company’s success and reputation in the labor market.

The significance of EVP is not limited to its internal promise of unique benefits provided to employees. It plays a vital role in enhancing the employer brand, the external image of the company as an appealing place to work. A compelling EVP should consistently articulate the organization’s strengths providing convincing reasons for employees to associate with the company.

Crafting a Strong EVP: The Essentials

A strong EVP is not an overnight creation. It aligns with the company’s mission, fosters a shared purpose, and integrates employer branding with the employee experience. It’s a blend of key components such as:

• Compensation
• Respect
• Culture
• Belonging

It’s vital to ensure that the proposition is genuine and delivers on what it promises, as seen in various Employee Value Proposition Examples.

Compensation and Benefits

When it comes to creating a winning EVP, financial rewards and benefits play a crucial role. These encompass salary, bonuses, and stock options, as well as health insurance, retirement benefits, paid leaves, gym memberships, and company-sponsored holidays. When designing your EVP, it’s crucial to include attractive benefits such as paid time off, health insurance, parental leave, and retirement plans. These offerings can enhance the overall appeal of your organization to potential candidates..

The importance of these offerings cannot be overstated. Employees satisfied with their pay and benefits are 13% more likely to stick with their current employers for at least three additional years. What’s more, an appealing EVP can enhance a company’s ability to attract talent and may reduce the necessary compensation premium by 50%. So, it’s no surprise that compensation has been indicated as the most desired feature in an EVP.

Company culture

Your EVP conveys more than the tangible benefits. It is a mirror of the company’s dedication to creating a collaborative and enjoyable work environment. Companies like SailPoint, for example, emphasize productivity paired with a fun-loving atmosphere. Others like BetterCloud stress the importance of employee contributions towards a shared mission, reflecting a culture that values individual impact on collective goals.

Some EVPs focus on the adaptability and commitment of the workforce, as seen with Avalara, which uses descriptors like ‘adaptable’ and ‘intensely committed’ to define its company culture. Others highlight the company’s unconventional and vibrant work setting, like LiveLike’s emphasis on a laid-back attitude paired with a drive to achieve meaningful work. This shows how an EVP can effectively project the company’s focus on team success and collective achievement, as well as its commitment to professional growth and the wellbeing of its employees.

Mission and purpose

An EVP that resonates with today’s workforce often includes a mission that transcends just the work itself, emphasizing values that extend beyond profit-making, such as supporting social movements or environmental sustainability. Candidates are increasingly attracted to companies with a clear vision and values that are actively practiced by its current employees, which signifies a meaningful work atmosphere.

Genuine company missions could involve backing social justice movements, promoting environmental equity, enhancing community development, or supporting mental health initiatives. Companies can express their commitment to their mission through activities such as paid volunteer days, charitable donations with company matching, and team fundraising events. Thus, the EVP related to mission and purpose often emphasizes the impact an individual employee can have towards the company’s larger goals.

Career Development, Goals and Growth

Career development is at the heart of an effective EVP. This includes technical and leadership training, sponsored educational courses, mentoring, career guidance, and a range of professional experiences. Organizations like PwC and Merck set standards for supporting career progression with initiatives that include developing leaders at all levels, providing digital and comprehensive training, and incorporating regular performance reviews.

Shopify’s EVP, for instance, emphasizes individual growth and impact as central to its culture, while Trader Joe’s promotes career development by engaging crew members in a variety of tasks and responsibilities, and prioritizing internal promotions based on performance.

To retain motivated employees, companies must offer robust development opportunities, well-structured training programs, and clear career paths as foundational elements of their EVP.

Work-Life Harmony

Promoting a healthy work-life balance is an essential aspect of an Employee Value Proposition. This can be achieved through flexible schedules, remote work options, and parental leave. Studies have shown that remote-friendly EVPs significantly contribute to employee engagement, with an observed increase of 35%, and can lead to a 40% boost in productivity among remote workers.

Organizations that offer flexible policies and wellness programs to support work-life balance are more effective at retaining employees. PwC’s emphasis on a healthy work-life balance in their EVP through flexible working arrangements is a noteworthy case that demonstrates the practical application of these principles.

Activating Your Employee Value Proposition

Once you have crafted a compelling Employee Value Proposition (EVP), the next critical step is activation. Activating your EVP means bringing it to life in a way that resonates with both current employees and potential candidates. One of the most effective ways to do this is through employee-generated content, particularly video content. Authentic employee stories and testimonials captured on video can vividly communicate the essence of your EVP.

EVP Activation examples

For example, Amazon has successfully activated its EVP by showcasing employee stories that highlight the company’s culture of innovation and customer obsession. Through a series of videos, employees from various departments share how they are empowered to innovate and make a difference. This approach not only illustrates Amazon’s EVP but also humanizes the brand and makes it more attractive to job seekers.

Electronic Arts (EA) activates its EVP by highlighting the creativity and passion of its employees in the gaming industry. They share behind-the-scenes looks at game development and employee-led initiatives that contribute to a dynamic workplace culture. This not only demonstrates the company’s commitment to innovation and employee engagement but also attracts talent passionate about gaming and entertainment.

PayPal, on the other hand, focuses on showcasing its commitment to creating an inclusive work environment. They feature stories from diverse employees who share their experiences with PayPal’s supportive culture and how it fosters their professional growth. By doing so, PayPal reinforces its reputation as a company that values diversity and empowers employees.

Similarly, HSBC has leveraged video content to activate its EVP by focusing on the global opportunities and diversity within the company. Their videos feature employees from different parts of the world, discussing the inclusive culture and international mobility that HSBC offers. This global perspective reinforces the bank’s reputation as a world-leading financial institution that values diversity and career growth.

By following the lead of brands like these, companies can effectively activate their EVP, ensuring it’s not just a statement on a website but a living, breathing aspect of the company culture. Videos allow for a dynamic presentation of the EVP and can be shared across various platforms, from the company’s career site to social media, increasing reach and impact.

Showcasing Your EVP: The Power of Employee Videos

In the digital age, the best way to showcase your employee value proposition is through employee videos. Employee videos provide a platform for sharing personal testimonials and insights, making the EVP relatable and authentic, and they are considered the best way to showcase an EVP. Seenit’s technology assists with creating employer brand videos that enhance EVP communication and engagement efforts, doubling click-through rates on career sites.

Video content engages audiences with elements like curiosity and emotion, increasing the retention of the EVP message. The combination of visual, auditory elements, and emotional appeal in videos can effectively showcase a company’s culture and values. High-quality EVP videos can be created using simple tools such as smartphones and basic editing software, making it accessible for companies of all sizes.

Leveraging EVP for Talent Attraction and Retention

A well-executed EVP can decrease annual employee turnover by almost 70% and increase new hire commitment by about 30%. An effective EVP can lead to lower recruitment costs by decreasing turnover, resulting in saved training and hiring expenses.

It also influences the organization’s employer brand, making it essential for talent acquisition and retention.

Integrating EVP into the Employee Journey

To ensure a consistent experience that aligns with the company’s values and goals, the EVP should be incorporated into daily business workings and the employee lifecycle. This means the EVP should be a fundamental component of the employee journey at every stage, including:

• Career site visit
• Interview Process
• Onboarding
• Development
• Engagement
• Advocacy
• Alumni

Internal Communications and EVP

To enhance internal communication and demonstrate the EVP effectively, consider adopting the following strategies:

• Encourage leaders to share their experiences and commitment to the EVP through personalized video messages, fostering a more human and relatable connection with employees.
• Empower employees to create and share their own video content that illustrates the EVP in action, such as their work-life balance, professional development, or community involvement.
• Host virtual Q&A sessions with executives where employees can see firsthand how leadership embodies the EVP and ask questions about its role in company strategy.
• Feature a regular segment in the company newsletter or on the intranet that showcases employee-generated content, including videos and stories that bring the EVP to life.
• Organize monthly all-hands meetings with a dedicated portion for showcasing videos and testimonials from employees across different levels and departments, highlighting how the EVP aligns with their daily work and the company’s broader mission.

Creating a lasting impact on employee engagement and satisfaction is achieved by ensuring employees are consistently reminded of the values and benefits that the EVP promises throughout their time with the company.

Employee advocacy

Employee advocacy includes employees acting as spokespersons for their employer’s brand across various platforms. This can involve employees:

• sharing about interesting projects or culture initiatives on social media
• participating in industry events and conferences as representatives of the company
• writing blog posts or articles about their work or the company
• speaking at industry conferences or events
• participating in media interviews or press releases

Encouraging employees to share company-related content can lead to attracting potential customers and high-quality potential employees.

Companies can use strategies such as leaderboards and prizes to incentivize employees to share content about the company. Moreover, they can use employee advocacy to share support for social, environmental, or political causes.

Employee video testimonials

 Employee video testimonials can significantly enhance a company’s reputation and attract top talent by providing a genuine peek into the work environment. Job seekers often value employer reputation, and employee testimonials offer an authentic perspective that can influence their application decisions.

Testimonials from existing employees, especially regular ones, are trusted more than messages from senior executives, thus building trust among potential candidates. The power of storytelling through employee testimonials makes company qualities more memorable and impactful for job candidates.

When shared across social media platforms, these authentic stories can increase the employer brand’s reach and impact.

Evaluating and Enhancing Your EVP

The effectiveness of an Employee Value Proposition can be evaluated through employee engagement surveys, feedback, and tracking key metrics such as retention rates. High employee engagement leads to increased profitability and improved customer loyalty, which can be achieved by incorporating employee opinions into the EVP and focusing on key engagement and retention drivers.

Feedback Mechanisms

Transparent communication within an organization via feedback mechanisms, such as employee surveys, increases trust and can lead to better talent retention. These employee surveys used to gather actionable insights should contain questions that evaluate whether the organization’s EVP offerings align with employee expectations.

Surveys can be utilized to measure the effectiveness of the EVP by including specific questions regarding changes in employees’ perception and engagement. This way, companies can use employee feedback to optimize their EVP and make it more appealing and effective.

Tracking Retention Metrics

Tracking retention metrics is a crucial part of evaluating the success of an EVP. Implementing a strong Employee Value Proposition can lead to a decrease in annual employee turnover by up to 69%. Thus, retention metrics, particularly employee turnover rates, are critical indicators of the success of an EVP.

Creating an Authentic EVP with Seenit

Seenit helps businesses establish their employer brand by leveraging employee-generated content, offering an authentic view of working at the company and making the company’s EVP more relatable and effective. With Seenit, businesses have complete control over the narrative by allowing them to choose and edit the employee-generated content into their desired formats.

Seenit is an accessible platform that accommodates various budgets and provides resource assistance, guaranteeing ROI and supporting companies in content creation. It supports companies in showcasing their commitment to equity and inclusion by sharing diverse stories and initiatives through video.

Companies can start creating videos with Seenit almost immediately, usually within the first week, thus swiftly bringing their EVP to the forefront.

Summary

To sum up, a strong Employee Value Proposition is a powerful tool in the competition for talent. It’s more than just the tangible benefits an employee receives; it’s also about the company culture, mission, career development opportunities, and work-life balance. With effective strategies, including the use of employee-generated content and feedback mechanisms, companies can create an EVP that resonates with both current and potential employees, leading to enhanced engagement, retention, and overall business success.

Frequently Asked Questions

What is the role of employee videos in showcasing the EVP?

Employee videos play a crucial role in showcasing the Employee Value Proposition (EVP) as they provide personal testimonials and insights, making the EVP relatable and authentic. They are considered the best way to showcase an EVP.

How can employee feedback enhance the EVP?

Employee feedback can help in assessing the effectiveness of the EVP and making adjustments to better meet employee expectations.

What are the key components of a strong EVP?

A strong EVP includes competitive compensation, a positive company culture, alignment with the company’s mission and purpose, opportunities for career development, and a healthy work-life balance, which are key components in attracting and retaining top talent.

How can I track the success of my EVP?

You can track the success of your EVP through employee engagement surveys, feedback, and key metrics such as retention rates. These methods will provide valuable insights into the effectiveness of your EVP.

How does Seenit help in creating an authentic EVP?

Seenit helps in creating an authentic EVP by leveraging employee-generated content to provide a relatable view of working at the company and allowing businesses control over the narrative. This makes the EVP more effective and relatable to potential candidates.