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Determining Your Employee Value Proposition: An Overview

Strong employee value propositions (EVPs) set you apart from the competition and can help you attract quality candidates and retain impressive employees. Creating an effective EVP involves learning what your current employees enjoy about your company and what candidates want in their ideal workplace.

Below, you’ll learn the EVP definition and how strong EVPs can help you recruit top talent. This article also covers the qualities that make a good EVP, and it provides several employee value proposition examples to help you define your own.

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What is EVP?

An employee value proposition is the set of benefits you offer employees in return for the skills, experience and qualities they bring to the position. In simple terms, what’s in it for them?

Your EVP typically includes the benefits, financial rewards, career development opportunities and additional perks employees receive. It also mentions your company’s values and vision. The goal of an EVP is to make employees excited to work for your company and it can help build your employer brand.

Many job seekers search for companies that share similar values. Seeing an employee value proposition that aligns with an employee’s goals and passions may convince them to choose your company over another. In fact, according to an Indeed survey, 21% of job seekers decided to accept the offer for their current job because their interests and values were reflected in the company’s mission.*

*Indeed survey, n=5,970

Not only that, but having a compelling EVP can attract passive candidates (i.e., those who are not actively looking for a job but are open to the right opportunity), which makes up a large percentage of the global workforce.

Overall, EVPs are to employees what unique selling propositions (USPs) are to customers and clients.

What makes a good employee value proposition?

A strong EVP stands out from your competitors and is relevant to your employees’ wants and needs. It should represent your company’s values and make your employees feel proud, motivated and encouraged to do their best work each day.

An effective EVP typically includes more than just a paycheck. Here are a few key elements commonly included in compelling EVPs:

  • Financial rewards like salary, stock options and bonuses.
  • Employment benefits like paid time off, health insurance, retirement funds, parental leave or company-sponsored holidays.
  • Career development opportunities like leadership training, technical training, mentorship programs, promotions, travel opportunities, tuition reimbursement or paid educational courses.
  • Additional monetary and non-monetary perks and incentives like gym memberships, free coffee and snacks, flexible work hours, work from home opportunities or team-building workshops. Check out 32 other employee incentives to consider offering here.
  • A positive work environment that provides autonomy, recognition and a good work/life balance.
  • Statements about company culture, goals and values like communication, collaboration and positive relationships between team members and supervisors.

Examples of EVPs

Here are some employee value proposition examples to consider:

  • “At Best Tech Unlimited, we’re dedicated to the success of our employees and helping them achieve their goals. Our leadership team is constantly encouraging employees to advance in their career by offering leadership training, team building workshops and free college courses to employees who stay on our team for at least a year. We’re committed to enhancing the lives of our team and helping them grow as people and as professionals.”
  • “Marking Solutions is looking for team members passionate about helping others. Our goal is to work side-by-side with our clients to promote their small businesses. We do this by thinking outside the box to craft creative content and marketing campaigns that drive consumers to these companies. To help our employees provide a one of a kind client-employee relationship, we offer benefits like paid travel to clients’ offices, customer service training retreats and career advancement opportunities.”
  • “Our team at Elevate values the importance of collaboration and engagement. That’s why we’re dedicated to making the office your favorite place to be. We want work to feel fun, instead of like a chore. To support this, we offer perks like a fully stocked kitchen, flexible hours, potential bonus opportunities, employee retreats and unlimited vacation. Come have fun with us and love where you work.”
  • “At Professional Solutions, we want our employees to grow with us. We value the contributions of every employee, and we believe our success is your success, which is why we’re starting an employee stock option program. For a set amount of time, we’re providing our employees with the option of purchasing shares of company stock at a lower price. Our hope is that this helps our valued employees increase their earnings.”

How to define your own employee value proposition

Your EVP must appeal to potential job candidates and encourage employee loyalty. Here are five steps to help you create a strong EVP you can include in your talent acquisition process:

Assess what your business currently offers

What are your company’s key selling points? Note the current benefits, perks, compensation, work environment and other opportunities your business offers employees. Over time, your values may change so it’s important to review your company’s EVP to ensure it continues to accurately represent your business as your company grows.

Related: 10 Perks and Benefits for Your Business to Consider

Make a list of qualities your ideal employees should possess

Sit down with your leadership team and list the qualities of top candidates you’d like to recruit, also known as your ideal candidate persona. Mention any skills, traits and characteristics of these ideal employees. Possible traits could include:

  • Dependable
  • Motivated
  • Experienced
  • Passionate
  • Self-disciplined

Knowing the qualities you want in candidates allows you to center your employee value proposition around them. For example, if you seek motivated employees, offer training and career development opportunities. This attracts the most motivated candidates who want to grow and advance in their careers.

Conduct surveys with current employees to learn their wants and needs

It’s important to attract new candidates while also retaining current talent to reduce employee turnover. Craft a list of questions asking your employees what they like about your company and what needs improvement. Use this list to understand which opportunities your current employees will benefit from the most.

Employees will feel more encouraged to stay at companies with EVPs that revolve around their needs. Seeing how passionate employees are about working at your company creates a positive atmosphere that candidates will want to join. Possible questions to include in your employee survey include:

  • What do you enjoy the most about working here?
  • What are some of your favorite benefits or perks we currently provide?
  • Which opportunities do you wish we provided?
  • Are the career paths at your company clear?
  • Do you feel like you’re doing meaningful work?
  • What support would you like our company to provide that contributes to your career development?
  • What do you think makes this company unique?

Conducting exit interviews is another great way to gather useful feedback you can use to build a strong EVP.

Cater your EVPs toward each candidate

To ensure you’re attracting your ideal candidates, target your messaging toward the specific audience you want to hire. For instance, if you want to fill your entry-level positions with candidates who have a desire to learn and grow, your employee value proposition might highlight any growth, career development or tuition reimbursement opportunities you offer. Even though you’re tweaking your messaging to speak to a certain audience, each EVP should still represent the values and career goals of your company as a whole.

Communicate your EVP

After you’ve defined your EVP, it’s time to share it with the candidates you want to attract. Consider including it in your job descriptions, on your company website, during the interview process, in job offer letters, on your social media account and in other parts of the hiring process. Remember, the goal of an EVP is to help you attract, hire and retain candidates that are the right fit for your business, so it’s important that they’re aware of what makes your company unique.

FAQs about employee value propositions

How do you evaluate the effectiveness of your EVP?

A few key performance indicators (KPIs) you can use to measure the effectiveness of your EVP include: employee satisfaction rate, traffic to your company career page, time to hire, applicant-to-interview ratios, cost-per-hire, turnover rate and online company ratings and reviews.

What is the difference between EVP and employer brand?

Your company’s EVP is why people want to work for you instead of anyone else, including the specific value you provide to current and future employees. Employer brand is closely related, but also involves the “what” and the “how” behind your business, including a company’s external reputation and image. Overall, an EVP is a building block of an employer’s brand.

What questions does the employment value proposition answer?

An EVP helps candidates answer the following questions about your company:

Why should I work for your company instead of a different company?

  • What’s in it for me?
  • What makes your company a great place to work?
  • What can you offer me that other companies won’t?
  • Why should I apply for this job?

What is a common mistake that employers make when creating an EVP?

The most common mistake employers unintentionally make when creating an EVP is putting perks before value. When employers focus only on perks such as free lunches and extra vacation time, this can take away from the overall values that employees get from working at their company. While perks are definitely an essential part of an EVP, it’s important to focus on the overall objectives of both the employer and potential employee.

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*Indeed provides this information as a courtesy to users of this site. Please note that we are not your recruiting or legal advisor, we are not responsible for the content of your job descriptions, and none of the information provided herein guarantees performance.

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