News Story
Karma for EVPs
Ignored in the downturn, critical for the upturn
Employers are at risk of rising turnover and incorrect hires unless they recognise the importance of an Employee Value Proposition (EVP), says recruiting expert Hays.
“In many businesses the attention previously given to an EVP was redirected elsewhere during the downturn,” said Grahame Doyle, Director of Hays. “Recruitment and retention were no longer as high up the priority list as they had been. But this short-term response to economic conditions will have long-term ramifications. As the economy improves and job numbers rise, skills shortages will hamper workforce planning and growth opportunities for the business.
“This is why it is critical for employers to focus on their EVP once more,” he said.
According to Hays, an EVP communicates a company’s values and culture, as well as the rewards, opportunities and experience of working for your company.
“An EVP communicates what it’s really like to work for your company,” says Grahame. “By communicating what you stand for and the experience of working at your company, you’ll attract like-minded candidates who are a natural fit with your company and the way you do business.
“Without an accurate, clear and well-known EVP, you won’t keep up with the competition in the race for the top talent. The messages in the market about your company will be contradictory and you risk attracting candidates who don’t live your values. In that case, what sort of interactions are they having with your customers? Will your customers stay loyal if your employees aren’t advocates for your company, aligned with the company’s values and way of doing business?”
Deliver the promise
“In many ways defining your EVP is the easy part,” says Grahame. “It’s implementing it that’s the challenge, and where many employers fall. Once defined, all of your touch-points with potential recruits and customers, from your internet site to the application process, need to reflect your EVP. If you don’t have a consistent message about your company’s values and what it’s like to work for, potential employees cannot determine if your company will be a good fit for them and vice versa.
“But make sure your EVP reflects what it’s really like to work for your company, or you mislead your current and future staff, which will only lead to higher turnover,” he said.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Lucy Sharp, Marketing Manager of Hays in Australia and New Zealand, on 02 8226 9885 or lucy.sharp@hays.com.au
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