Employer value proposition – Best practices - Emptor

In a connected world, with the explosion of social media, it is now more important than ever to look out for your company’s reputation. According to a Randstad study, 86% of workers wouldn’t apply for a job position or continue to work for a company that has a bad reputation with former employees or the general public.

The ultimate goal with employer branding and a well-planned employer value proposition is to communicate across all channels a great message that resonates with the proper audience and the right potential collaborators in order to attract and retain top talent. A key obstacle in the candidate experience when looking for a job is not knowing what it’s like to work at an organization.

What is an Employer Value Proposition?

As a concept, the employer value proposition is the image and reputation that an external person has about your company. It is part of employer branding and represents the overall reputation and the perceptions formed about your company in the eyes of both internal and external sources, such as employees (culture), social media, PR communications, and being qualified as a great place to work.

Employer branding helps you to attract and retain top talent, reduces turnover, increases engagement, and maximizes cost per hire.

Applying Lean Branding Recipe to Your Employer Branding

Author Laura Busche in her book Lean Branding proposes a framework that establishes how to create brands that generate conversion, which you can revisit when shaping your employer branding.

Many companies invest in brand storytelling for their products or services, so you also need to invest in and take care of your employer branding. It’s the best approach to building great branding on all fronts.

According to a LinkedIn study, well-defined employer branding and employer value propositions can reduce turnover by 28% and cost per hire by 50%, while increasing the number of qualified applicants by 50%.

Key Concepts to Review

1. Position Statement

   • Defining your employer value proposition involves everything you want to transmit to your employees: mission, vision, core values, teamwork, and belonging.
   • Trace your core message by defining concepts that can serve as pillars standing your position in the market.

2. Promise

   • During the post-COVID years, employees want to make a difference and be a part of a company with a vision and impact.
   • Top performers are looking for more than just a salary; alignment with a vision, the ability to make an impact, and feeling proud of their work are crucial for them.
   • The promise of such commitment needs to be carefully crafted to nurture great relationships and maintain employee engagement.

3. Personas

   • Every brand story needs characters, which is why creating personas is essential. You need to picture real people looking for a job within your company.
     • What are their daily expectations?
     • What kind of flexibility can you offer for those positions?
     • What benefits will they enjoy?
     • Are you offering competitive salaries and performance bonuses?
     • Is there a clear path for growth and career planning?

4. Experience

   • Picture the work experience within your company:
     • What challenges will your collaborators face?
     • What rewards can they expect for outstanding performance?
     • Beyond salary and benefits, do they have access to equity?
     • Is there a clear career progression?

5. Recruitment Marketing

   • Referring to recruitment marketing in 2022 involves building a strategy that continuously attracts talent to your organization while keeping engagement high.
   • Choosing the Right Recruitment Channels
     • Understanding different recruiting channels is crucial for defining which ones bring the most qualified candidates.
     • Regularly track your investments to gather information on where to allocate more budget and maximize return on investment.
     • In many countries, LinkedIn is the primary option to advertise job positions, while in others, job boards remain the better choice.
     • According to a study by Glassdoor, 79% of job applicants consider social media recruiting as one of the most popular talent acquisition channels.

6. Providing the Best Candidate Experience

   • Candidates now expect a clear journey during the application process, including fast and seamless application processes, timely post-interview feedback, and transparent reasons for rejections to shape a positive candidate experience.

7. Employee Advocacy

   • Great employee branding relies on your employees. Encourage them to generate content that showcases their experiences. These testimonials and stories are what candidates care about. Share this content on your social media platforms regularly.

Frequently Asked Questions

Q. What is an Employer Value Proposition (EVP)?
A. An Employer Value Proposition (EVP) encompasses a set of unique offerings and benefits provided to employees, including tangible and intangible benefits such as compensation, career growth opportunities, work-life balance, company culture, and more.

Q. Why is an EVP important for an organization?
A. An EVP is essential for attracting and retaining top talent. It clarifies what the organization offers to its employees, facilitating the communication of the value of working for that organization, ultimately fostering a strong employer brand and improving employee engagement and loyalty.

Q. How do you create an EVP?
A. Creating an EVP involves understanding what motivates and engages employees, defining the organization’s values, culture, and goals, and identifying unique offerings provided by the organization. This process typically involves gathering feedback from employees and researching industry best practices.

Q. What are some examples of EVP offerings?
A. Examples of EVP offerings include competitive salary and benefits, career development opportunities, flexible work arrangements, a positive company culture, social impact opportunities, and a commitment to diversity, equity, and inclusion.

Q. How do you measure the success of an EVP?
A. Success can be measured through metrics like employee engagement, retention rates, the quality of new hires, and business performance. Regular employee feedback through surveys or other methods helps assess the effectiveness of the EVP and identify areas for improvement.

Emptor Helps You in Your Screening Stage

Strengthening your strategies in every step of the hiring process is vital for attracting and retaining top talent. However, it’s essential to emphasize that all new hires should undergo a background check prior to official hiring to protect the company from potential harm through proper due diligence.

Emptor can provide companies with fast and reliable background checks, ensuring you hire the right people for open positions. Book a free demo by clicking on the image.