Employer Value Proposition

How do you create an Employer Value Proposition?

You should answer the following while creating a great Employer Value Proposition:

• What does your company offer to its employees in terms of culture, job security, career progression, etc?
• What sets you apart from your competition?
• What kind of experience can an employee expect while working at your organization?
• What kind of talent will help you achieve your big-picture goals and what matters to them?
• What are your strengths?
• Does your EVP align with your overall company strategy, guiding vision, and working philosophy?

What makes a good Employer Value Proposition?

An EVP is a brand that your organization makes. If you want to make a good EVP then you must ensure that it genuinely attracts, engages and retains the top talent that is hired or will be hired. A good EVP should generate good returns for your company.

Who Should Develop Your Company’s EVP?

Ideally, it is the HR who creates the company’s EVP. But the senior leadership, senior executives, and managers should also be aligned with it. All the employees can offer suggestions for its improvement.

How do you calculate Employer Value Proposition?

To calculate the EVP, sum up the external and internal hiring costs and divide the resultant by the total number of new hires. A decrease in the cost per hire indicates that the EVP is good enough.

Why should companies encourage Employer Value Proposition?

EVP is necessary to build trust in your employees and is a great way to build employee engagement. This will indirectly result in high retention rates and this way your employees will be the ambassadors for your Employer Brand.

What are the elements of Employer Value Proposition?

According to Gartner, following are the elements of Employer Value Proposition:

1. Compensation
2. Work-life balance
3. Stability
4. Location
5. Respect