How to Create an Employee Value Proposition for Tech Talent
A solid employee value proposition, or EVP for short, helps businesses and organizations to attract qualified tech talent. It gives a clear message of not only what your company is about, but what also being a part of it is like.
A more progressive wave of employee value proposition is a human-centered value proposition, which promotes seeing employees not as workers, but people first and foremost ❤️.
But in this article, we are going to focus on how to create an EVP, what the employee value proposition is all about, and why you should be learning about employee value proposition at all.
What you should know about the employee value proposition 🧐
Employee value proposition is about everything an employer has to offer its employees. It is about the aspects that motivate people to work at a company such as, for example, a distinctive corporate culture. It also includes the opportunities and benefits a company offers its employees in exchange for their skills and time. EVP not only attracts tech talent to tech companies but also helps retain and motivate current employees to continue contributing to the company’s performance.
If we were to put it simply: each employee brings their experience, expertise, and skills to the workplace. As an employer, you compensate them through salary, various benefits, career and personal growth opportunities, etc. What an employee value proposition does is it puts all of those “rewards” together and gives a potential employee a “packaged” value they get if they work for your company. EVP should clearly state the benefits and opportunities people can expect from your company so that candidates evaluate whether they align with what you can provide or not.
However, employee value proposition is not only about what you can offer employees; it can be beneficial for your company as well, since it can help to establish your brand on a deeper level. EVP can assist in shaping the company’s mission, differentiating it from competitors, and specifying the identity of your business.
An employee value proposition is an integral part of employer branding strategy as it gives employees a detailed idea of what the company’s values and offerings. A developed EVP can become a foundation for an employer branding strategy, which will eventually attract knowledgeable and dedicated tech talent. However, EVP and employer brands are not the same thing.
How is the employee value proposition different from the employer brand? 🤔
EVP and employer brands are very much connected, but they still differ.
As Neelie Verlinden puts it, the employee value proposition is internal by nature.
It presents and describes what your employees can or will receive if they commit to the company. In this context, an EVP is the commitment you make to people working for you (in response to their commitment).
An employer brand is more external and covers the reputation you have among potential candidates and other companies hiring people. Employer brand is how you decide to share your company's mission, values, and cooperation principles with the people outside your company.
EVP and employer brand are not the same thing, but they do influence one another. In fact, employee value proposition is at the core of employer branding strategy, since it is the substance that is getting promoted and presented externally.
The elements of an employee value proposition 📝
The employee value proposition is not only theoretical but also consists of tangible value you can give your workers. This value can come in different shapes, not only in the form of compensation (however it’s an important part of it too).
The elements of an EVP are:
Compensation (salaries, bonuses, promotions, evaluation system);
Benefits (health insurance, paid leave and holidays, pension plan);
Career opportunities (training programs, relocation opportunities, qualification development, feedback system);
Work environment (work-life balance, autonomy, the options of remote or hybrid work models, office design, location and commuting);
Corporate culture (company’s values, mutual support, socializing opportunities, diversity and inclusion principles);
4 steps for creating an employee value proposition for tech talent 🛠️
Creating or improving an employee value proposition is possible without hiring third-party experts. In the words of Emily Heaslip, approaching EVP should not be “just a marketing exercise”, but more of a practice to deepen the understanding of your brand’s identity.
Step 1: Collect feedback 🗣️
To improve an employee value proposition we need to first identify what it is and looks like now. For this, it’s helpful to ask your current employees about what they do and don’t enjoy in their work experience. Also, ask what they value in your company’s culture:
What did you expect working in our company would be like? Did your expectations match reality?
What benefits from those that we offer you value most?
What do you find fulfilling and challenging in your work experience?
What do you appreciate the most and the least about working here?
Do you feel valued working here?
Keep in mind that all information that is given to you is valuable as it’ll help you understand the go-to direction when it comes to developing your EVP. Stay open to criticism. You may come to find out that what you thought your employees valued the most is actually what they value the least.
Step 2: Match your proposition with your hiring goals 🎯
Your current employees undoubtedly play a key role in EVP improvement, but you should also keep potential candidates in mind.
To match your EVP with your hiring goals, you need to first establish hiring goals, at least for a year. Think about the directions your company wants to expand toward in the future and the positions you may need to fill according to the expansion trajectory.
You may also need to reevaluate the compensation or benefits to be able to give employees in newer positions the working environment they need. This may include incorporating a flexible working schedule, a remote working model, providing working equipment for the team of developers, etc. If you want to hire entry-level employees, reshape the employee value proposition to be more relevant: you can include compensation for student loans, or volunteering opportunities.
Step 3: Define your EVP ✏️
Once you establish what you offer or plan to offer, you can start defining your employee value proposition. The following questions can help you do that.
What does your company need? Think about your hiring strategy for the near future and consider how you can motivate your future employees.
What do you expect from your employees? EVP is also about your business needs and goals, which your employees can help you achieve through collaboration. Be transparent about what you expect from your employees and what is at the core of the expectation. Make sure to back up your expectations with the appropriate compensation level.
What is something unique you can offer your employees? You don’t need to come up with something extraordinary here; just make sure you articulate that little something your competitors don’t have. Make sure to build it upon foundational values like flexibility and personal growth.
The benefits you’re offering should be relevant to your employees and their categories.
Step 4: Build consistency around the employee value proposition 🔗
EVP alone is nice to have, but in order for it to better a work experience within your company, EVP has to have a narrative that can bring it to life.
The thing about employee value proposition is that you need to incorporate things you can actually deliver in it and tell a story of how it exists within your company values.
You can create a separate section on your website that’s dedicated to benefits, perks, and team activities that come with the job.
Testimonials from your current employees, especially in the video format, can help support your employee value proposition.
Work on developing the company’s LinkedIn page and motivate your employees to give feedback on their work experience.
There are many ways to do it. It doesn’t have to be all serious; you can make your EVP fun and engaging to explore.
And no matter how you decide to approach showcasing your employee value proposition, the most important thing is that keep in mind when shaping it is authenticity. Good luck ❤️
