Our latest guide and whitepaper explore the concept of the Employer Value Proposition and its increasing importance for business who are looking to remain relevant in today’s fiercely competitive jobs market. We’ve also taken a deep dive into the practical steps organisations should take when looking to transform and redefine their own EVP.
One of our biggest takeaways from these guides was the increasing importance of new technology and systems in helping business get to grips with identifying their core strengths as a brand and to help them gather the metrics and data they need in order to enact meaningful change.
The EVP as a concept is deeply entwined with the recruitment cycle, serving as it does, as a reflection of a company’s cultural identity. It’s for this reason that many projects of EVP transformation find themselves falling at the feet of HR professionals- many of whom find a lot of their core responsibilities involving the search for new talent.
We believe that the systems that your HR teams use should allow them to leverage their experience to become truly influential driving forces in your business. We created Advanced HR with the goal of freeing HR professionals from the burden of manual input and admin heavy tasks and instead, allow them to achieve the full scope of their role and build a better people experience.
An organisation’s EVP is set to determine how relevant and desirable an organisation will be in today’s job market. We believe in the power of Advanced HR to help you define and transform your EVP and allow your brand to become the driving and influential force it deserves to be.
What is the EVP?
The Employee Value Proposition, or EVP, describes the various metrics which contribute to your brand as an employer. A well-defined EVP highlights your key strengths as a place to work and defines the specific qualities which distinguish you from your competitors when it comes to recruitment and keeping your best people. When looking at bringing on board new talent into your organisation, the EVP is designed to sell your business to prospective new hires and tell them specifically why they should choose to work for you and what they seek to gain from it.
A strong, well embedded EVP also goes a long way towards strengthening levels of employee retention and engagement as values which are championed for the recruitment cycle inevitably find a lot of crossover when it comes to retaining the skillsets of key employees. Research by The HR Director has noted the increasing trend for people to expect their employers to act as more inspirational and ethical forces within their respective markets, particularly when it comes to their engagement with diversity and inclusion initiatives as well as broader issues such as environmental concerns. An effective EVP offers a robust framework wherein companies are able to demonstrate their commitment to these issues and how their brand aligns culturally with these shifts.
What is the importance of the EVP for HR?
HR as a role is closely linked with the recruitment and onboarding of new talent. In the post-pandemic world, organisations will be looking towards their people teams to help them secure the services of key talent in order to drive forward productivity and profitability and their EVP will have a huge role to play in determining the success of any recruitment drives.
As mentioned previously, a strong and well embedded EVP is a key asset in helping organisations present themselves as more empathetic and attractive places to work. The global disruption of recent years has resulted in a job market which is more fiercely competitive than ever, with Mckinsey's Future of work after COVID-19 report, predicting an acceleration in the number of people looking to switch roles with an increase of up to 25% compared with pre-pandemic levels.
Today’s job market is an extremely scrappy and competitive space with organisations desperately vying for what seems to be a relatively narrow crop of key talent. The key to success may very well lie in how organisations are able to distinguish themselves from their competitors.
A well defined EVP allows businesses to market themselves as a cultural entity and to effectively communicate their ethos and commitments to issues such as environmental concerns or a greater desire for heightened diversity and inclusion initiatives.
By putting their best foot forward and placing an emphasis on their brand as a cultural entity, organisations can help find a unique angle with which to pitch themselves as prospective employers to potential new hires, all whilst distinguishing themselves from their competitors.
Having a clear understanding of your strengths as an employer can also go a long way towards reducing the cost of recruitment, not to mention cutting the time of the overall hiring and onboarding cycle.
How Advanced HR can help.
The recruitment and onboarding of new talent is a critical element of any modern organisation and there’s no getting away from the fact that the recruitment cycle demands a lot of the time of their HR people. The systems that their people-teams rely on day to day absolutely must shoulder the burden and help make the acquisition of new talent as painless as possible.
The systems and technologies utilised by HR teams also offer the perfect opportunity to gather key metrics and data points to help understand the employee experience within your organisation either by engaging with current employees or from information gleaned by exit interviews and other methods. The most successful programmes of transformation of the EVP can only happen with a clear understanding of the strengths and weaknesses of your organisation- your people teams are the key to unlocking that crucial information.
We’ve created Advanced HR with the goal of freeing HR professionals from the burden of admin tasks and helping them focus on what truly matters for their business. We also believe that one of the key factors in determining success is having the visibility of key metrics and data which businesses need to help inform ongoing strategy. Advanced HR has been designed to allow businesses to gain a comprehensive overview of their organisation and its strengths, as well as identifying any gaps or potential roadblocks.
So just how can Advanced HR help you redefine your EVP?
- Recruitment- Your HR systems should be leveraged to help you create a pre- interview stage completely devoid of bias and aligned with your ongoing strategy. Utilise your platforms to create pre- screening skills assessments, judging each employee specifically on the suitability of their role. Your HR systems can also assist your teams in generating interview questions which eliminate any irrelevant information, helping you to hone the process and focus on finding candidates which are the best fit for the role.
- Forecasting-The metrics and data regarding the existing makeup of your organisation will be an undeniable asset long before you even enter the recruitment cycle. Having a clear overview and understanding of the shape of your workforce, helps you to understand where there may be gaps in your hiring process or highlight instances where incidences of embedded bias may have played a factor. Advanced HR allows you to get a comprehensive overview of all levels of your organisation, allowing you to understand where change should be weighted in order to be truly effective.
- Engagement- Advanced HR allows you to stay connected with your people like never before. Pulse surveys allow you to gauge the mood of your workforce as well as offering a platform for your people to air any concerns or to provide feedback which can help influence your EVP transformation. Advanced HR allows you to keep your finger on the pulse of your people’s moods and also helps you leverage their feedback in an intelligent way, bringing them into the conversation about how to transform your EVP.
- Benefits and rewards- A hallmark of a strong EVP is how fulfilling your organisation is as a place to work for.There is increasing evidence of the growing importance to have a clear structure around employee benefits and rewards in place within your organisation- a survey by Aviva found that 48% of people stated a desire for some form of wellness benefit when assessing an organisation. We designed Advanced HR to enable you to gain an understanding of your people’s requirements through surveys and other reporting tools in order to help you create benefits and rewards packages that are truly meaningful for your people.
- Learning and development- The ability to visualise your journey within your workplace is a key factor in determining long term success and satisfaction with an organisation. Advanced HR has been created to help you provide your people with a clearly defined pathway for employee learning and development and to position your brand as a forward thinking workplace. Our comprehensive platform allows you complete visibility of your people’s journeys through your organisation, giving you the confidence to know that any qualifications and accreditation will remain up to date.
What’s next?
At Advanced, we believe in the power of technology to help you achieve more. We understand that the future success of your business will be largely entwined with your EVP and your perception as a brand, which is why our Advanced HR software has been designed specifically to give you the oversight you need to not understand the challenges facing your people but to also understand what may be holding you back from a recruitment standpoint and to help you craft policy and procedure to overcome any challenges.
We understand that defining and strengthening your EVP may seem like a daunting prospect but we also truly believe that it is a worthwhile undertaking that can help you gain a greater understanding of your business and your strengths and weaknesses. We believe in walking the walk too, which is why we have focused on our own EVP and undertaken the journey of getting to the core of what that means to us at Advanced. We’d like to take those lessons we learned from that experience and help you with your own EVP transformation.
We believe in the power of the EVP to help transform the perception of your business and to position your organisation as an influential and inspirational place to work. It’s clear also that your people-teams have a huge role to play in determining the success of any EVP transformation, which is precisely why the systems and technologies they rely on daily should be leverageable in order to help them achieve the full scope of their role.
If you’d like to learn more about the EVP, what it means to your business or how we can help you strengthen and define it within your organisation, come and explore our suite of People Management solutions and get in touch today.