It can be hard to make a claim for the full worth of an EVP.
A panel discussion I watched from EB Stars (link at the bottom) put it really well. It’s not about an ROI, because it’s not like consumer marketing where money spent = customers acquired.
Instead, it’s more about cost-benefit. If you invest in EVP – and the brand activation that follows – what benefits can you hope to realise from that?
And I thought it was worth exploring that a bit further, because if you haven’t considered all of the benefits, then an EVP can be a harder sell.
Making sure we’re on the same page
I’m going to start by making one of those important but subtle clarifications, because I’m increasingly seeing “EVP” being used in two slightly different senses.
There’s EVP in the sense that I’m using it here: The total value of working for an employer / the deal and the feel and specifically using that as a tool to drive target audience’s perception of working for you.
And there’s also EVP in the sense of: The total value of working for an employer (same!) – but this being about what the employer constructs and facilitates to make this a place that attracts, motivates and retains people.
Simply, the former is a bit more about branding, the latter more about “product”.
(Want to explore the difference? Jaguar first showed their new branding, then their new product. A few people made comment on these).
Why an EVP is important
It’s one thing having a great product, and once people have a chance to fully experience it, they can understand and appreciate it.
But you can’t give everyone a full experience of your brand, when you’re offering a job. It’s quite hard to even offer the equivalent of a “test drive”.
Your branding therefore becomes important. All branding worth the name follows a value proposition. If it doesn’t, it just becomes shouting good stuff. And the risk is that if you shout unconnected good stuff, you confuse.
Your employer value proposition will tell people the total value of working for YOU, that cannot be claimed by anyone else. It is all of the evidenced reasons why someone should work for you.
It is then the task of your branding to construct a complete picture of the experience of working for you. To show all the facets of that EVP; to give people a test drive from the comfort of their own home. To move their perception from wherever it was, to one that most closely matches your reality.
The uses for an EVP
Most frequently, an EVP is used for attraction and recruitment. And that might be driven by a number of different motivations:
· For smaller organisations, or those with a lower profile, to build a presence and bring them to a similar presence as bigger or better-known organisations
· To reframe your employer reputation: Not just if your reputation which is unknown. You may instead have a reputation as an employer that is dated, or just not in keeping with reality, or so linked to your public face that it misses vital aspects.
· To differentiate: You may have a very similar product offering as a competitor – but a quite distinct offer to employees. You may need to use your EVP to separate you
· Supporting your Consumer Value Proposition: Your EVP can be blended with your Consumer Value Proposition. Perhaps, the way your treat your people makes you a more attractive organisation to buy from. Or perhaps the quality or personality of your product is a reflection of the quality or personality of your people.
How can your EVP do even more work for you?
Your EVP can – and should – also be seen as a motivational and retention tool.
When you are offering more to your people
Maybe in the case of enhanced benefits, it should never be presented alone. A season ticket loan and an additional pension contribution? That’s nice. A season ticket loan and an additional pension contribution on top of everything else? That’s more thought-provoking.
When you are asking more of your people
It can seem less natural, but in the case of when you need people to step up, or are in the process of change, you can use your EVP too.
Your EVP should, after all, include lots of emotive elements – things like pride and prestige of working for the organisation. And it should show future direction, what you are all trying to build together.
A good leader or communicator will instinctively know to draw on these anyway. Your EVP gives them the structure to make sure they press the right buttons, and are linking to past and future messages.
Messaging like this becomes important when you need to galvanise people for change or disruption.
Among other things, an EVP can help you to:
· Maintain focus on Organisational Goals: By clearly articulating the company's mission and the strategy to get there, an EVP ensures that everyone is working towards the same objectives, fostering a unified and purpose-driven workforce.
· Preserve a Strong Company Culture: Including a definition of what the company stands for and what it expects of employees, the EVP can cultivate a sense of belonging and consistency among employees, which can bring people together.
· Boost Performance: With a regular appreciation of the unique benefits and opportunities on offer - and by ensuring more of the right people join and stay – you can increase the chances of a more motivated and engaged workforce. That should then ensure maximised chances of greater productivity.
· Drive Innovation and Creativity: An EVP that emphasises the value of personal, professional and organisational growth can inspire employees to think creatively. When employees feel ideas are valued and supported, they are more likely to take the initiative, driving innovation.
Unlock the Full Potential of Your EVP Today
When defined well, and applied in all the right places, your EVP is a powerful tool. It’s far more than just a way to attract. It’s a strategic asset that drives engagement, boosts performance, and fosters a strong, unified company culture. By clearly articulating the unique value your organisation offers, you can attract top talent, retain key employees, and inspire innovation.
Ready to maximise the impact of your EVP? Contact me for tailored advice and to explore how you can harness the full power of your EVP to achieve your organisational goals.
Let's improve the experience in your workplace together. Book a free, no-obligation chat today.
Here’s the panel discussion from EB Stars: https://ebstarsacademy.com/courses/panel-discussion-roi-in-employer-branding/
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