The Elusive Concept of EVP: How to Define and Evaluate Your Unique Value Proposition
Working with good people is not just a "nice to have" - it's a necessity if you want to enjoy your work and produce quality work. Beyond that, working with people you respect and admire can improve team morale, increase collaboration and creativity, and lead to a more positive work culture.
I know firsthand the benefits of working with good people. I've worked with Clint for the last seven years, and we've recently started partnering on some exciting new projects.
We were both at the same organization before - Clint was the Head of Recruitment and Learning, and I was the Head of Employee Experience and Communications. We won some HR awards together and now, with Clint's organizational psychology, leadership development, and recruitment background, and my marketing, employee experience, and engagement experience (as well as our combined research and data skills), we make a great team.
One of our current projects focuses on Employee Value Proposition (EVP). We're discovering that EVP can be an elusive concept. Like a broody, teenage heartthrob from a 90s sitcom - it’s often misunderstood.
Yes, most businesses understand that it's important to have a great EVP because it can help them attract and retain top talent, build a positive employer brand, improve employee engagement, and reduce recruitment costs. However, when it comes to creating a top-class EVP, we’ve found that many businesses are looking for a good starting point and a solid framework for evaluating their existing EVP and defining their desired one.
If you're thinking about your EVP, then we've pulled together some simple, impactful models that can help. However, we'd also like to talk about the challenges businesses face when creating an EVP. It can be tough to define your unique value proposition, or you may not have the necessary resources to create an effective EVP.
To make your EVP creation or evaluation process easier, here are a couple of things we put together to help.
The first is this - The Three Elements of a Great EVP:
An Employee Value Proposition (EVP) is essentially the answer to the question: 'why would I want to work here?' To answer these questions effectively, top companies create their EVP by drawing upon and three elements - the Big Picture, the Status Quo, and the Key Differentiator.
And, we also created this one - which I really like. It’s a graphic that basically shows you what and how to evaluate EVP Strategy and Success
Of course, many things contribute to EVP - from the strategy, benefits and brand that guides it, to the campaigns and communications that promote and articulate it.
EVP is influenced by organisational and departmental strategy - and is often brought to life through recruitment and employee experience strategy.
Overall, having a positive work environment and a great EVP can have a significant impact on employee satisfaction, retention, and overall business success. By working with great people and creating a compelling EVP, you can create a workplace culture where employees are happy, engaged, and motivated to perform at their best.
If you're interested in learning more about creating a great EVP for your organisation or want to discuss partnering with us on an EVP project, please don't hesitate to contact us. We'd be happy to chat with you about how we can help you attract and retain top talent, improve employee engagement, and build a positive employer brand.
Contact us today to get started!