Here we explain what makes a strong EVP, and how it will help you to attract and retain the right people for your organisation.
So, what is an EVP?
According to Clare Vague, HR Director at Wingate, “An EVP is a relationship between the employer and employee – the employer employs the person to contribute to the success of the company and in return the EVP is what’s in it for the employee.”
An EVP is everything a business does to attract and retain its employees – think pay, perks, culture, career development, benefits and rewards. It’s also a way that organisations can differentiate themselves.
The secret to a strong EVP
Your EVP should be fit for purpose, which means it needs to be research-driven and support the strategic direction of your company. That’s why it’s critical to involve all staff in the EVP development process – seek feedback, meet 1:1 and leverage this to introduce new ideas.
Unlike employer branding, which is more about your external company image, an EVP is an internal tool that showcases what makes you unique and answers the key employee questions, “What’s in it for me and what do I need to do in return?”
According to Vague, “An EVP shouldn’t just be about the fun, fluffy stuff, it should have substance.” She says an EVP should enhance people’s lives, help them grow and be great at what they do, and in return, they help to create a high performing culture. Why? Because they have a sense of purpose and value in the company.
How do I promote my EVP?
Firstly, an EVP should be communicated through your networks as an introduction to your business and tie in with your existing brand identity.
As part of her practice, Vague ensures that Wingate’s EVP is also shared at other key touchpoints, including:
- Recruitment – where it is naturally tied into conversation in the recruitment process.
- Onboarding – as part of Wingate’s employment pack and induction process.
- Ongoing – promoting key initiatives and successes to keep staff engaged and help with retention.
- Offboarding – using EVP messaging during this stage can help to alleviate any concerns and leave a good lasting impression.
How will my EVP attract the top talent?
A compelling EVP will help to give you a competitive edge and make you an employer of choice, particularly for candidates who may be considering other offers. “Strong EVPs attract talent as people know they well be developed, rewarded and valued,” Vague says.
An EVP is a huge drawcard for potential new employees, especially now that many people are seeking opportunities to join a business whose goals and values align with theirs. Candidates will research companies before they even apply for a role, so a solid EVP means you are connecting from the get-go and differentiating yourself in a crowded market.
An EVP is a key driver of positive employer-employee relationships and, when done well, it will help to engage and retain existing staff too. Employees can see how they’re part of the broader picture and how they can contribute to the overall success of your organisation.
Wingate’s people strategy supports and highlights their EVP. “We hire the best people, to be successful in a high-performing culture and we support their development and wellbeing by ensuring they are rewarded and feel valued for what they do,” Vague says.