What's Your Employee Value Proposition and Why Does it Matter?
Updated: Sep 30, 2020
Unless you’re deep in the HR world, chances are you may not have heard of an employee value proposition. Sometimes referred to as an EVP, it’s critical to recruiting and hiring new talent. This is especially true in the tech space - with far more jobs open than technical employees available, a strong EVP can make or break a candidate’s opinion of your company.
So what is an employee value proposition?
Simply put, an employee value proposition is what you offer employees that makes them want to work there. If you’re thinking that sounds like a standard benefits package, you’re not wrong - but it’s more nuanced than just health insurance, free soda, and PTO days. It also encompasses your company’s values and culture, which might be hard to define when you’re first starting out.
How do you figure out what your employee value proposition actually is? It requires some thought, and probably some insight from other people within your company, but it’s not enormously difficult to determine.
Consider the following elements - they can all make up a portion of your EVP.
If you’re trying to define your employee value proposition in an attempt to sway more candidates in your direction, think about what you offer that your employees value. Sometimes these items fall squarely on the benefits or compensation side of things. Competitive pay, retirement accounts or pension programs, health insurance, stock options, and annual bonuses are all things people care about that have their place in an employee value proposition.
When you’re creating your brand’s employee value proposition, don’t stop with the things that have a dollar sign attached. As hiring managers have learned over the past decade, candidates care about more than just the compensation. Make a list of perks you offer that aren’t traditional “benefits.”
Does your company provide unique learning and experience opportunities? Is the environment casual rather than strictly business-formal? Perhaps your team attends industry events or provides access or otherwise closed off organizations. Do certain teams have role rotation initiatives that let people develop their careers while gaining exposure to new teams and projects?
Benefits that increase a person's quality of life and personal/professional gross can be just as valuable, if not more, than traditional financial benefits.
Your corporate culture is a huge factor in a candidate’s decision to accept or decline a role. Consider yours, honestly, and determine how you can package it into your EVP.
Does your company put an emphasis on culture by hosting regular social events? Happy hours, lunch and learns, game nights and industry networking sessions are all more than ways for employees to chat and get to know one another - they’re critical to building a strong company culture and adding to your value proposition. Do your teams embrace open, honest feedback year-round instead of just during an annual review process? This is a great example of a culture that people want to work with and, therefore, should be highlighted.
What does your company stand for? What traits does it want to see in employees, customers, or other stakeholders? All brands, including those that are for-profit, have values that speak to candidates. Maybe your organization is committed to sourcing fair-trade items, limiting carbon emissions, or hiring diverse employees and suppliers. Some businesses donate to different nonprofits, local charities, or host blood drives with the Red Cross. Others have quarterly volunteer days, during which employees spend their time helping others, rather than doing their day jobs. These are things that can - and should - be highlighted in your employee value proposition. Job seekers want to work for companies that do good, so showcase your values and commitments in your EVP.
You have an employee value proposition. What’s next?
Use it! You don’t need to put an EVP out on your careers site and ask current employees to plaster it all over their LinkedIn profiles, but don’t be afraid to work the key elements into your job descriptions and careers page. When you’re sharing, figure out what really sets you apart as an employer.
Why would someone choose your company over someone else in the industry or a completely different company down the street?
What do you have to offer that’s different and enticing?
If you’re interviewing great candidates, share your value proposition with them. Remember, an interview is a two-way street - you need to see if an applicant can do the job and mesh well with the team, but a prospective employee is also evaluating your company to see if it’s somewhere they can envision working. Being able to speak to your company’s perks, values, and culture, in addition to standard benefits, will offer candidates more insight to your brand and - hopefully - have them eager to accept an offer.
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About the Company:
Peterson Technology Partners (PTP) has been Chicago's premier Information Technology (IT) staffing, consulting, and recruiting firm for over 22+ years. Named after Chicago's historic Peterson Avenue, PTP has built its reputation by developing lasting relationships, leading digital transformation, and inspiring technical innovation throughout Chicagoland.
Based in Park Ridge, IL, PTP's 250+ employees have a narrow focus on a single market (Chicago) and expertise in 4 innovative technical areas;
Artificial Intelligence/Machine Learning/Data Science
Robotics/Robotic Process Automation (RPA)
PTP exists to ensure that all of our partners (clients and candidates alike) make the best hiring and career decisions.
Peterson Technology Partners is an equal opportunity employer.