Employee Value Proposition – does your organisation attract the right candidates?

In the current candidate led market, it is essential for organisations to stand out with their Employee Value Propositions – EVP. So there is a clear communication of benefits to attract top talent. Candidates are in the position where they are receiving multiple job offers and in our experience the value of the benefit packages added onto the basic salary, plays a significant part in the decision-making process. 

With unemployment reaching a new record low, we have put together a check list of what we believe makes your organisation stand out!  In order to win candidates over any additional offers including counter offers. 

Does your organisation have an unique offering for candidates?

• EVP is based on reality not aspiration​; candidates seek out tangible benefits to be able to compare with either their existing offering or counter offers they may be considering alongside yours.
• Attraction and retention​; having an EVP in place equally works towards attracting the calibre of potential candidates for new roles and ensuring your existing workforce feels valued and content where they are.
• Post pandemic life has driven ​people to rethink their priorities; without taking away focus from their career individuals are striving towards a healthier work and home life balance.

Here are the key components that form an Employee Value Proposition:

Compensation:

Let’s face it, no matter how much we love our work we ultimately go to work to make money.  Your organisation will have a ceiling for salary bands you can offer, however, there are other ways to give your employees financial benefits.  Does your company offer bonus schemes or employee share options? Enhanced pension schemes or car allowances.  These are all valuable assets for candidates to be made aware of. Remember member it is unusual for an employee to leave purely as a result of finances – it may also be how they have been treated, their boss, too much pressure or a lack of flexibility or they are simply in the wrong role.  Consider: 

• Basic Salary ​
  • Salary band​
• Travel & other allowances​
• Overtime payments​
• Variable payments ​
  • Incentives​
  • OTE​
  • Bonus​
  • Cost of living 

Benefits:

You may not be aware of the perks your current employees love the most – so ask them.  You might be surprised to find the Nespresso coffee machine makes them get to work 5 minutes early so they can make a cup or the annual conference which involves travel is something they always look forward to, through to walking meetings or lunch with the MD.  Consider: 

Career & Growth:

How do you invest in your employees and develop their careers? What courses do you offer them? Do they have a coach and mentor? Would they like to be a mentor or do you select ‘Experts’ who are responsible for training both existing and new staff in their expertise? Have you considered an annual Learning and Development budget that your colleagues have autonomy on spending? Do you have a budget for non-work-related learning such as learning a musical instrument or a language?  Is the career path transparent?  Consider: 

• Technical training and workshops​
• Soft Skills training​
• Promotion and Leadership opportunities​
• Mentoring and Coaching ​
• Funded Courses and qualifications​
• Top management interactions​
• Client facing opportunities​
• Opportunities to work in other departments or on high profile projects​
• Annual Personal Development budget per employee

Work Environment:

Hybrid and remote working have become part of candidates check list of desirables when looking for their next role.  How flexible is your company? Is it all working from home or all ‘office’ based or can you offer a hybrid option? Do your working hours have to be fixed? Can the hours be more flexible, and can you offer earlier or later starts? How would a four day week work in your organisation – could you trial this? How much holiday do you offer – is it statutory or more? Could you accommodate a holiday purchase scheme or a day off on birthdays?   Whichever policy you have in place maximise its value to the candidate.  Consider: 

Culture & Purpose:

How easy is it for your colleagues and future talent to see if your values match with an individuals’ values. When researching a potential employer, Corporate Social Responsibility can be a key attraction for a number of candidates, the company’s proactive involvement in a charity or giving colleagues some time in their diary to support an individual charity. Consider: 

• The company’s vision, mission, and values – aligning to individual values
• ​Diversity, Inclusion and Diversity​
• Team member communication and collaboration
• ​Transparency and accountability in workflows​
• ​Leadership style​
• Conflict management
• ​Encouragement for innovation and risk-taking​
• What are companies giving back
• ​Employee Engagement

Calculate the value of your benefits package  

We have created a benefits package calculator which can help you work out the value of your benefits package. If you can quantify a £ figure to add on to a basic salary and display this in your advert or on your website i.e. £2,500 worth of benefits £20,000 worth of benefits – often training can add up to considerable figures, that will ultimately attract the top candidates for your business.   

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