The Employer Value Proposition (EVP) is how your company is perceived, internally (employees) and externally (candidates). The interesting thing about EVP is that you have one whether you like it or not. The good news is that you can control what that perception is and more importantly make it a reality. This blog is not to tell you how to create your EVP (more on that later) but rather to explain why you should be acutely aware of your EVP.
It is surprising how little EVP is considered in relation to the candidate journey with a company. After-all, it impacts the interview stage, onboarding and retention. If you’re not aware of EVP, you could be missing out on great hires and also losing your best employees.
How does EVP affect hiring?
Every candidate will research your company on multiple platforms. They will look at your mission, values and working culture. They will talk to friends and ex-colleagues. All of these touch points impact your EVP.
60% of candidates who had a bad interview experience, are less likely to purchase the employer’s product – Glassdoor.
A bad candidate experience has endless knock on effects. EVP plays a huge part in that experience. The image you portray is what candidates are buying into. For some, it can be the reason they want to work for you. The content you provide about your company must be truthful and attractive. Remember, the interview is a window into your business. The interviewer is the face of your business. The interviewer should be able to sell or talk at length to answer a candidate’s questions and not just about the job itself. The company culture, values, mission etc, are all elements of your EVP that an interviewer should be able to discuss.
Top tip:
To make sure you don’t miss an opportunity to promote your EVP and build your brand with a candidate, make sure your interviewers are equipped with relevant talking points. Also, ensure the EVP you wish to be portrayed is accurate. This way the interviewer will be comfortable to talk in more detail while providing actual examples when answering questions.
Attrition issues?
You guessed it; Employer Value Proposition! Consider flexibility. What if a candidate agreed to work two days in the office but shortly after starting is told five days in the office is required. Childcare plans, transport, work life balance have all been altered. This is a major conflict in his/her perception of working for this company and could easily lead to attrition. The same can be said for career development. If a person is told there is a budget for learning and development or that promotion opportunities can occur twice per year only for that not to be true. This leads to immediate alarm bells on the decision this candidate has made. Essentially, the message that goes to the external market (candidates) needs to be a reality for your internal market (employees).
Top tip:
To ensure a reliable and attractive EVP, consistently engage with your employees and live up to your values or what you portray your EVP to be. At the same time, promote the narrative externally through employer brand methods. This way, candidates can easily see what it’s like to work for your business and employees can back this up at interviews.
Onboarding and Retention
Onboarding can make or break a hire. You must have a robust onboarding process for every new hire. Make sure your EVP is echoed throughout your onboarding program; from benefits to culture to extracurriculars; include it all in onboarding. This way, the research and information collected throughout the interview process will reaffirm the candidate’s decision to accept their offer and they will likely enjoy a rewarding career in your organisation.
EVP plays a role in retention as well. Your tenured employees are the most tuned in to what it’s like to work for you; career development, internal processes, internal politics. If the working conditions have changed or if the culture in the office has changed, you need to accept that and make sure the EVP you promote reflects the truth. If these changes are drastic and not an improvement, it is likely your tenured employees will consider leaving you. They certainly will not be comfortable interviewing potential candidates. Something to consider.
So, who would have thought your Employer Value Proposition could have such an impact? If you need support in this area or just have some questions you can contact [email protected] at your convenience.
More to come on how to build your Employer Value Proposition. Follow HireWise.ie to keep up to date with all things hiring.
