Employee Value Proposition (EVP) is the balance of the rewards and benefits that are received by employees in return for their performance at the workplace.
Employee Value Proposition (EVP) Definition
Organizations generally develop an EVP to provide a consistent platform for employer branding and experience management.
Minchington (2005) defines an Employee Value Proposition (EVP) as a set of associations and offerings provided by an organization in return for the skills, capabilities and experiences an employee brings to the organization. The EVP is an employee-centered approach that is aligned to existing, integrated workforce planning strategies because it has been informed by existing employees and the external target audience. An EVP must be unique, relevant and compelling if it is to act as a key driver of talent attraction, engagement and retention.
Importance of Employee Value Proposition (EVP)
Since attracting best talent is harder than ever, consistent and efficient communication of Employee Value Proposition has become extremely importan
Many recruiters and other HR Professionals now have planned strategies for communicating their EVP and Employer Brand with current and potential future candidates.
Relatively new method for easier and more efficient delivery of these employer messages is called Inbound Recruiting, and the whole concept of using marketing methodologies to recruit and hire is called Recruitment Marketing.
Recruitment Marketing methodologies are usually done through Recruitment Marketing tools and software that make this whole process easier and more productive. With these tools, it is easier to communicate Employee Value Proposition with candidates through engaging career site, automated email campaigns, social recruiting and many other channels. This way, recruiters can encourage Candidate Engagement and improve overall Candidate Experience.
Elements of Employee Value Proposition
Explore More Terms & Definitions
- Mean wage
- Action-reflection learning (ARL)
- Indirect compensation
- Resume Parsing
- Employer Branding
- Abilene Paradox
- Competency-Based Pay
- Talent Acquisition
- Abandon rate
- Candidate Engagement
- Labor force participation rate
- Employee Turnover
- Applicant Tracking System
- Recruitment Marketing