Why do people choose to work for certain organisations and not others? What fulfils an employee in their role and makes them happy? With organisations experiencing fierce competition for talent, an attractive place to work is more important than ever, meaning HR professionals need to become acutely aware of how they position their organisations to existing and prospective employees, and how they’re then delivering on the promises they make. Traditionally referred to as the employee value proposition (EVP) – the essence of why people decide to work for (and stay with) an employer – it’s a crucial time to revisit what employees truly want and whether these elements are being authentically delivered.

It’s a candidate’s market so EVP is crucial!
The number of job vacancies between March to May 2022 rose to a new record of 1,300,000; up by 20,000 from the previous quarter, and an increase of 503,900 on pre-pandemic levels (January to March 2020). With more candidates on the market than ever, attracting and retaining talent is key.

A strong and authentic EVP is vital for nurturing an engaged workforce who cares more, contributes more and wants to stick around. It’s also what differentiates one organisation from another, creating competitive ‘unique selling points’ while reinforcing its reputation as a good employer. However, it’s not unusual for an organisation to treat its EVP as an exercise, thought about and created years’ before and not revisited since. In fact, as society, organisations and workplaces evolve, so should EVPs to ensure that what employers are promising and what employees desire match-up.

Revisiting your EVP
The Covid-19 pandemic accelerated many workplace changes, not least flexible working, condensing a ten-year evolution into a two-year period. As a result, the five key elements of an EVP – People, work, organisation/culture, opportunity and rewards – must be reviewed with fresh eyes.

Starting with ‘people’, the pandemic forced organisations to become more ‘human’, with employees’ expectations of leaders and teams changing. Employees now want leaders who don’t lead authoritatively but both collaboratively and compassionately within a collegial work environment. Co-operation, camaraderie and fulfilling social connections are desired more than ever, and job seekers need to be reassured that their unique characteristics and contributions would be accepted and welcomed.

In terms of the ‘work’ itself, we’re all too aware that traditionally office-based organisations that don’t provide flexible working options for its people, will struggle to attract and retain staff. Flexible working is becoming an expectation, with employee location no longer a barrier to many job roles. And there’s also a work-life balance requirement for many employees, with a desire to have fulfilling personal/family lives alongside their careers. People having to make personal sacrifices in order to excel at their jobs, is no longer perceived as necessary and employers that even suggest this, will seriously jeopardise staff attraction and retention. Plus, in today’s work environment, employees expect their work to be valued and recognised by both their leaders and their peers. With workers now less visible, it’s key that their contributions are called-out and appreciated at a distance as well as face-to-face.

The organisation and its culture, which incorporate a number of key elements, are crucial considerations for today’s job seeker. Even if the role is well-paid, if the culture is ‘off’, this will quickly repel talent. From the organisation’s purpose and values through to how inclusive and innovative it is, this all combines to create a great (or not so great) place to work, which employees choose to be a part of (or not!). Today’s employees want purpose-driven organisations with values aligned to their own. Employers simply can’t get away with being led by what shareholders want, but instead must be ethically-focused, with a strong conscience that resonates with its people.

Even though workers expect a greater degree of flexibility in where and when they work, this is not at the expense of growth and development opportunities. Employees want equity of opportunity regardless of where they’re working with a range of training and development courses and opportunities available to them. And although this desire for personal and professional advancement has not changed, how such opportunities are delivered and engaged with at a distance require innovation and technological investment.

Finally, how employees are compensated and rewarded for their work is particularly relevant right now. With living costs at an all time high, fair wages and tangible benefits are a ‘must’. However, despite the tough economic climate, many job seekers are still wanting organisations that deliver on ‘softer benefits’ such as wellbeing support, as much as the hard rewards of pay, pension and healthcare. The value people now place on their mental and emotional wellbeing has increased since the pandemic and a supportive culture in which wellbeing is prioritised is now an EVP ‘must have’ for many.

Building your EVP around your unique organisation
An EVP should be the heart and soul of why people work for an organisation. It brings together everything that’s great about the company, its culture and its people, creating compelling reasons for people to join the company and remain loyal to it. However, its crucial that there’s no gap between the perception of an organisation and the truth of working there. What’s portrayed must be authentic, otherwise new starters will not stay around once they realise that it’s not the reality.

To ensure the perception and reality marry-up, HR professionals must immerse themselves in understanding where the company (and its culture) is at and where it wants to get to. Analysing the employee experience and both internal and external viewpoints are key here, so that a plan for creating an EVP that’s attractive, genuine and fully aligned with the corporate brand can be formulated. And while it’s important to understand current trends in terms of what employees are wanting right now, it’s just as important to ensure that any EVP is created with the organisation’s unique qualities in mind. By asking the right questions, listening to employees, and understanding how your particular organisation and its people can thrive, this will ensure the EVP is a magnet that attracts and keeps the very best talent.