One of the biggest struggles for businesses today is attracting the best talent. Recruitment agencies and online job boards are widely used options in this regard, however they sometimes come with a hefty fee. However, even if you have the recruiters on the case and the best ads, there is no guarantee you will find the best person to fit your open position.
There is, however, a solution - Employer Value Proposition (EVP). EVP is to attracting talent what USP (Unique Selling Point) is to attracting customers. When standing out in a crowd, these three simple letters make all the difference.
An EVP describes the characteristics and overall benefits of working for a business, and can help differentiate strong employers from their competition when all are vying for top talent. Creating an EVP is especially important for a small business still in its early stages, as it ensures you attract the best right from the start.
For your EVP to be most effective, there are 4 pillars to take into consideration:
- Authenticity - be authentic
- Different - be different
- Innovation - be innovative
- Consistency - be consistent
Some examples of companies with great EVPs, coincidently they are all extremely successful and all rank highly on “best place to work” tables worldwide.
Many established companies have great EVP's, and the following are all extremely successful and place highly on "best place to work" tables worldwide
Netflix: Freedom and Responsibility Culture
L’Oreal: 3 pillars run through their EVP
- School of excellence
- Thriving company
- Thrilling experience
Google: Development, Working Environment & Employee Wellness
It is important to note that having a successful business is not just about recruiting top talent but nurturing the talent you currently have.
The easiest way to retain good talent is to have proper processes in place so they feel both well looked after and valued by you.