In today’s candidate-driven hiring market, marked by jobs growth, low unemployment, and high quit rates, employers need to ensure they’re positioning themselves as competitively as possible to attract and retain top-performing talent.
Beyond the standard job description, a well-thought-out employee value proposition (EVP) needs to create a compelling vision of what the company stands for, what its mission, is and what value it brings to its employees and prospective employees.
Positioned strategically, an EVP is critical to answering the question, “Why should I choose to join your organization instead of another?” Here are some recommendations for how employers can create an EVP that accurately represents the organization and resonates with job seekers.
Attracting and retaining in-demand employees, especially in mission-critical roles, is essential to achieving business goals and perhaps to maintain a competitive edge. Top accounting and finance talent is more sought-after than ever. But even more important than access to a quantity of talent is ensuring your company is attracting the right quality of candidates: the ones that offer the most value and fit best within your organization.
For employers, EVP is critical to ensuring that the right candidates are drawn to your brand, and existing employees remain productive and focused. With elements of both branding and engagement, an effective EVP creates a sense of meaning and belonging for prospective and current employees.
To accurately reflect the company, engage employees at all levels of the organization when building an EVP. Make sure to have an idea of how similar companies are presenting themselves in the marketplace and what value differentiators your company possesses. Focus on positioning the company and its jobs competitively. Make sure, above all, to be honest and authentic.
Although it’s important to ensure they meet the particular style of your company, there are certain factors that should be included in a company’s EVP:
Once a strong EVP is in place, make sure job seekers see it. A 2018 poll of Fortune 500 companies found that 59% of them neglected to communicate information on why employees would want to work for them during the recruitment and hiring process, which is a serious missed opportunity. Ensure that the human resources department is working with all hiring managers so they can articulate the unique value proposition. If you’re working with a recruitment partner, it should also be able to present the EVP accurately and compellingly.
Feature the EVP on the company’s website and in job descriptions to support talent acquisition efforts. But also make sure that current employees have access to it; they can serve as the best brand ambassadors, since they have first-hand knowledge and credibility.
A generic job description won’t ensure that a company gets quality candidates. Investing in developing and communicating the EVP takes advantage of a great opportunity to attract and retain top-performing employees and help the company become known as an employer of choice.
Keith Mirabile is executive director at Aerotek, a recruitment and staffing agency.