A great employee value proposition (EVP) is vital in persuading the best talent to join your organisation. This guest blog article from Penna explains what EVP actually means and how to create a compelling proposition.
Guest Blog by Penna: HR & People Management Services
Every organisation needs a compelling Employer Value Proposition or EVP
This is a statement that those in the world of HR can’t fail to have heard in recent years and at Penna we are certainly finding that defining a great EVP is more and more at the forefront of our clients’ agendas. But what does it mean? So often with the latest market trend, many of us would be hard pushed to sum it up in one sentence largely because there are so many different definitions out there. At its most simple, your organisation’s EVP is its character; its personality; all the great things that make people want to join and just as importantly, stay.
So what is the personality of your organisation? What is it that makes your employees go the extra mile? It could be the fun and friendly atmosphere; your commitment to training or your charity work in the community. When looking at the characteristics of your organisation it’s important to focus on things that make you stand out, that differentiate you from your competitors. It’s also vital that your EVP is a true reflection of what it’s like to work in your business. A misleading EVP is the work-based equivalent of ordering a luscious, juicy burger from a picture on the menu, only to be served a flat, limp, anaemic looking bun. It’s highly disappointing and increases the likelihood that people will look elsewhere.
That’s not to say that your EVP can’t be aspirational in part. As long as the majority of the message is true of your organisation now - a nod to your change agenda and aspirations can form a really compelling message and is more likely to attract the type of talent that you need to move the business forward.
Whilst EVPs are most often considered in relation to external recruitment messages, let’s not overlook the importance it can play within an organisation. Internal comms messaging, appraisal processes and coaching amongst many other areas will all benefit from an overarching sense of purpose that brings these types of activities together with a common look and feel.
Investing time to develop your EVP will reap rewards across your organisation. We have seen this time and again with our own clients who have increased the quality of their hires, increased retention, improved performance and enhanced employee engagement on the back of defining a great EVP.
So, how do you go about developing an EVP? It’s about research, listening to your employees and understanding your aspirations and those of your competitors. Our clients have found it extremely beneficial to have a supplier carry this work out given the independent eye we cast over the research findings. Over time our considerable work in this area has enabled us to develop a tried and tested methodology unique to Penna. JoinStay™ allows us to quickly and effectively identify the key elements of your EVP and has been successfully applied across a number of organisations in both the public and private sector.
With over 23 years’ experience in the industry, Penna’s Head of Brand Pete Rice will be hosting a series of events for YPO which will provide you with more information about establishing your EVP and also dispel many of the myths surrounding this very interesting subject area.
For more details about the events, please visit www.ypoprocurement.eventbrite.com. In the meantime if you have any questions about EVP or related topics please do not hesitate to contact Victoria Smith at Penna on 07718 652881; [email protected]
For more information on the HR Services and Solutions framework please contact Lizzy, Buyer - YPO; [email protected] or call 01924 821 779.