In today’s competitive job market, attracting and retaining top talent hinges on more than just salary and benefits. The Employee Value Proposition (EVP) has emerged as a critical factor, defining what makes a company an exceptional place to work, and ultimately a commercial success.
At a recent webinar we ran for our portfolio as part of our ECI Unlocked series, we hosted Christine Armstrong, a communications and management expert, and recently named sixth in the top 50 Global Future of Work influencers. Here, she outlines 5 ways to create a competitive EVP that sets your company apart in the war for attracting top talent:
1. Your working model really matters
The flexible/hybrid work model has become a cornerstone of modern workplaces, promising flexibility and employee autonomy.
However, many companies are now rolling back the concessions they made during the pandemic, shifting hybrid policies to be more office-focussed. Businesses like Disney, Twitter, and KPMG – once strong advocates of flexible work – have since reversed their policies, pointing the need for productivity, collaboration, and stronger company culture. As a result, many organisations are struggling to strike the right balance, leading to confusion and frustration among employees and inconsistent policies across industries.
What the data is showing us now is that in reality, what employees want the most is predictability. People want to plan their lives and understand when and where they’re needed. Inconsistency and unclear guidance, often in the name of flexibility, makes this harder to achieve.
A key tactic is to provide the “why” to employees, as simply requiring them to be in the office without a clear purpose can be counterproductive.
2. Clearly define your EVP and what it says about your company
To define your unique EVP, it’s important to ask yourself about the ‘promise’ and the ‘deal’:
- The Promise: What unique value do you offer prospective employees? What does it mean to work at your company?
- The Deal: How does the reality of working at your company – including pay and benefits, growth opportunities, training and development, and the sense of connection and community – align with the promise you make?
A strong indicator of success is employee sentiment, reflected through platforms like Glassdoor or certifications such as Great Place to Work. Positive feedback not only improves your company’s reputation as a great place to work, but also directly impacts your hiring efforts. Research indicates that companies with robust employer brands can reduce recruitment costs by 50% and experience a 28% increase in retention rates. Additionally, organisations with a strong culture have seen a fourfold increase in revenue growth.
However, overpromising in you EVP and failing to deliver on those promises can lead to employee disappointment, ultimately damaging your company’s reputation in the talent market. A strong, authentic EVP is key to fostering trust and maintaining positive sentiment.
3. Addressing the unique needs of different employee generations
It’s important to understand your own talent pool, and part of that comes down to the different priorities amongst the generations.
Unlike previous generations, Gen Z have largely entered the working place in the remote/hybrid era and are fluent in modern technology. This has shaped their higher expectations around flexibility and seamless digital tools, with poor technical onboarding likely to be a big turnoff. As a result, their approach to work-life balance is different. The mindset sometimes associated with Gen Z isn’t about disengagement; it’s about rethinking traditional work structures.
Younger generations are much more aware of their own mental health, give more importance to how they feel, and are much better at communicating that. Managers need to ensure they can adjust their leadership styles to accommodate these evolving perspectives.
Fundamentally, it’s important to be aware of this as you plan for the future, and how your workforce will adjust over time.
4. Communicate it effectively
Numerous successful companies leverage their EVPs and online presence strategies to create powerful employer brands, allowing potential employees to quickly assess whether the company’s culture and values align with their own. For example, Salesforce prominently features its commitment to equality and sustainability across its careers page and social media channels, attracting like-minded talent. Similarly, Spotify’s Life at Spotify Instagram account shares employee stories, office life as well as creative projects, giving potential hires a peek into their company culture. When thinking about promoting your EVP, the goal should be to evoke an emotional reaction to it, so people know if this is the right kind of place for them or not.
It’s also a good story to tell internally, especially when creating those moments of progress. Bringing your current employees along on the journey and sharing the wins will improve the sense of pride of working for your company and improve retention.
5. Employee advocacy
A strong employee advocacy strategy should extend to external platforms like Glassdoor, where company culture plays a crucial role in shaping perceptions. These platforms are increasingly influential, with 77% of job seekers considering company culture before applying. However, even the most impressive EVPs, can be undermined if their Glassdoor ratings tell a different story.
Work with your current employee base to share their reviews on a public forum, ensuring that public brand perception aligns with employee experiences. Positive Glassdoor reviews attract a larger pool of high-quality applicants, often leading to a shorter time-to-hire and reduced recruitment costs.
To talk to us more about this, please contact Rich Pearce.
