The job market is in a great period of upheaval. Staff shortages have forced employers to step up their recruiting efforts and add hiring incentives that would have sounded absurd a few years ago. For example, The Economist reports that truck drivers in Portland, Oregon, are getting $30,000 signing bonuses.
You probably don’t have that kind of money to throw around, but what you can offer is an “employee value proposition” (EVP): a statement of benefits you offer employees and the experience and skill sets you’re looking for from candidates in return. And while salary is part of the value you can provide, it should be only part of a larger package including benefits, opportunities for professional development and other perks.
Your EVP should also speak to your company’s vision, because candidates are looking for more than a paycheck and other monetary rewards. In fact, a survey conducted by Indeed found that for 21% of former job seekers, the deciding factor in saying “yes” to their current employer was that their interests and values were reflected in the company’s mission.
Creating Your Company’s EVP
Now that you know the value of an EVP, how do you go about creating one? Indeed offers five suggestions.
Do a value inventory – Determine what you have to offer candidates. This includes salary, benefits and other financial incentives, and other perks that contribute to employees’ quality of life, like a good work environment or the possibility of advancement.
Decide what you want in an employee – Construct a profile of your ideal candidate. What experience should they have? What skills do they need? What personality traits are you seeking?
Assess your value as an employer by talking to current employees – Conduct regular employee engagement and job satisfaction surveys. Not only will this help you to know what popular perks you should lean into when posting your EVP in a job listing, but it also will help your retention, because employees are more engaged when they know you’re listening to and acting on their concerns.
Tweak your EVP based on the position you need to fill – Your value proposition, as carefully constructed as it may be, should also be positioned in such a way as to specifically attract job seekers to the specific job you’re hiring for – and the candidate you’re seeking.
Broadcast your EVP – An employee value proposition doesn’t do any good if it’s just a framed piece of art in your lobby. You need to get it out into the world. The most obvious channel is your job listing, but you should also find ways to put it into employee communications, your company website, and recruiting ads.
Mega Force Offers Value in Your Talent Search
Do you need a staffing agency to help you get your EVP in front of quality candidates? Mega Force helps employers in Lumberton and the rest of North Carolina find staffing solutions. Start here to see what we offer.