Since the pandemic, one thing has become clear: employees are no longer just seeking paychecks. Instead, they’re looking for companies that treat them respectfully, have a fantastic culture, and boast a mission and vision aligned with their interests.
With competition for talent ever-increasing, most forward-thinking companies have crafted an Employee Value Proposition (EVP) to promote their offering. That said, many are still getting it wrong with the old-school belief that an EVP is simply a long list of benefits and perks,
Building an EVP that prioritises your mission and values over benefits has never been more important. The best professionals predominantly seek purpose-driven roles, so get it right, and your EVP will become a secret weapon for attracting purpose-driven candidates who’ll drive your mission forward. The numbers don’t lie – companies with a strong EVP have seen a 12% increase in employee engagement and a 13% rise in retention!
In this blog post, we’ll share everything you need to know about crafting a strong, aligned Employee Value Proposition, and how to use it as a purpose-driven talent magnet.
What is an EVP – and why does it matter?
An Employee Value Proposition (EVP) is your company’s DNA – the values, benefits, opportunities, mission, and culture that make your business special. Essentially, it’s the pitch that tells talent why they should choose you over a competitor.
To distinguish between a “good” and a “bad” EVP, picture it as your company’s dating app profile. Lead with “I have a nice house and a car”, and you probably won’t get very far, because most people can (and will) pitch the same thing. That’s why crafting an EVP that highlights what makes you unique and focuses more on your mission than the material benefits you can offer is crucial.
Why bother aligning your EVP with your missions and values?
Your company’s mission and values represent the essence of your firm. Without speaking to a single team member, it tells prospective candidates what you stand for, believe in, and what you’re trying to achieve.
With a well-aligned EVP, you’re far more likely to attract like-minded professionals who want to make an impact. This is great news because mission-aligned employees are twice as likely to advocate for their company!
How to align your EVP with your mission and values.
Every company is unique, so there’s no one-size-fits-all approach to building an EVP. That said, here are some tips to put you on the right path.
- Start with your “why?”.
Revisit your company’s core principles:
- Why does your company exist?
- What’s your purpose beyond profit?
- What impact would you like to make on the world?
- Which values do you and your employees try to live by?
Also, review your organisational map and note how each employee contributes to the bigger picture. It’s imperative to ensure that every employee, no matter how senior or junior, understands the role they play.
- Listen to your team.
The easiest way to find out what makes your company unique is to ask your employees why they joined! Speaking to them will also help you identify what’s important from a candidate’s point of view, and what differentiates you from your competitors.
- Focus on tangible evidence.
Your EVP should reflect genuine commitments, not empty promises, so your mission and values should be more than words on a website. To build trust and authenticity, showcase examples of how you embed these in your operations.
Authenticity drives trust. Any company can advertise a “game-changing mission”, “people-first values” or “fun culture”, but only a handful of companies include evidence of them practising what they preach.
- Be prepared to evolve.
Crafting an EVP isn’t a do-it-once kind of task. Review it regularly, ensure that it remains truthful and authentic, and be open to letting it evolve as your business does.
How to showcase your purpose-driven EVP.
A whopping 57% of organisations have revamped their EVP in recent years to stay competitive, so here’s how to make sure yours stands out:
- Create employee-centric stories.
Authentic stories of impact and purpose are far more relatable than generic statements, so highlight employee experiences that demonstrate your values. For example, record a video of one of your employees discussing their journey and the impactful projects they’ve worked on so far.
- Share your EVP via multiple channels.
From LinkedIn posts to internal newsletters, your EVP should be communicated consistently across platforms. Current employees and prospective candidates should receive a unified message, regardless of where they interact with your brand.
- Get your leaders on board.
Your leadership team is responsible for reinforcing your EVP to current and prospective employees. When they live by your values, it’ll naturally trickle down to the rest of the business. Don’t be afraid to take action against leaders who do not follow your core values, because even the best EVP can be destroyed by one rogue leader who damages your reputation.
How a mission-aligned EVP attracts purpose-driven talent.
Purpose-driven professionals aren’t chasing paychecks or benefits; they’re searching for companies that will give them a chance to make a difference. A well-crafted, mission-aligned, values-driven EVP speaks directly to these people.
The impact of a well-crafted EVP is pretty impressive. Companies that use theirs to attract purpose-driven talent can lower annual employee turnover by 69% and increase new hire commitment by up to 29%!
That said, it’s essential to ensure your EVP is seen by people beyond those who stumble across your website. By working with a trusted recruitment partner who understands the value of the EVP, you can be assured that it’ll reach the eyes of the purpose-driven professionals you’d love to have on your side.
Ready to attract mission-aligned individuals?
At SR2, we understand that attracting purpose-driven talent takes more than a compelling job advert. As a B-Corp certified recruitment partner specialising in helping purpose driven organizations scale, we help our clients align their EVP with their purpose and attract professionals who share their vision.
Want to learn more about how we can help you develop and communicate a competitive EVP? Get in touch today to chat with our team.
