A strong employee value proposition (EVP) is not so much what organisations say they do but rather what employees, prospective candidates and customers think about an organisation. Today, employees and customers alike have a strong say on which organisation is considered to be a good employer. This is amplified through social media tools used on a daily basis.
In order to create a solid EVP, leaders and HR executives need to embed their EVP strategy within job descriptions’ key performance indicators, in employees’ onboarding process, performance review and exit interviews. This will involve a lot of internal and external research by the organisation. A good EVP is very much linked to the employer brand or image of the organisation. Therefore in trying to attract great talent, the organisation needs to use more sophisticated HR tools and processes and less workplace gimmicks such as, work-life balance initiatives, and company tokens. Employees must feel proud that they are part of the organisation and future candidates should aspire to join an organisation because of its reputation and what it stands for. Attracting and retaining top talent is a critical part of global organisations’ competitive advantage – as important as capital and innovation - without which a company cannot create sustainability.
According to the Harvard Business Review, “As the global economy picks up, there is growing concern among CEOs about finding and keeping the best talent to achieve their growth ambitions. Different surveys show that in 2014, 36% of global employers reported talent shortage. The highest percentage since 2007, and in a more recent 2015 survey, 73% of CEOs reported being concerned about the availability of key skills”.