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.
Read a detailed explanation of EVP!
Employee Value Proposition (EVP) Overview
Employee Value Proposition (EVP) Definition
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.
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What is Employee Value Proposition (EVP)?
Here is a simple, one sentence explanation of Employee Value Proposition (EVP):
Importance of Employee Value Proposition (EVP)
Since attracting best talent is harder than ever, consistent and efficient communication of Employee Value Proposition (EVP) has become extremely important.
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 (EVP)
Employee value proposition (EVP) is so much more than just a paycheck.
Hee are the most important building blocks of a successful employee value proposition (EVP):
Defining Employee Value Proposition (EVP)
Defining a strong Employee Value Proposition (EVP) is the most important of 5 steps to implement a successful Employer Branding strategy and it is definitively a magnet for attracting best candidates.
Learn more about an Employee Value proposition (EVP)
Check out our in-depth guide to the Employee Value Proposition (EVP): Employee Value Proposition (EVP): Magnet for Attracting Candidates!
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