An Employer Value Proposition (EVP) is the value you are offering as an Employer to your current and future employees.
And every company has their own unique EVP from their company culture.
It is about identifying what your EVP is to continue attracting and retaining the right employees, aligned to your company culture.
How do you identify your EVP?
You can apply the '6P' framework, consisting of the 6 main EVP pillars below:
- Pay
- Progression
- People
- Prestige
- Purpose
- Practical
Your EVP will very likely be a combination of several of the listed pillars:
1. Pay
This refers to the lucrative and attractive monetary rewards from your company, for example:
- Salary
- Bonus and commission
- Retirement funds contribution
2. Progression
This refers to the opportunities for promising career growth in your company, for example:
- Job advancements and promotions
- Continuous learning and development
- International work experience and assignments
3. People
This refers to the positive working relationships in your company, for example:
- Supportive colleagues
- Great workplace behaviours
- Commitment to Diversity, Equity and Inclusion (DEI) practices
4. Prestige
This refers to your company's established reputation, for example:
- Well-recognised brand name
- Market leader in your products and services
- Prominent successful milestones
5. Purpose
This refers to your company's vision and mission to drive social impact and value beyond just profits, for example:
- A positive difference to the community
- Corporate sustainability
- Environmental awareness
6. Practical
This refers to your company's employment offering that aligns with the lifestyle needs of your employees, for example:
- Comprehensive medical benefits, some even covering family members of the employees
- Convenient working conditions, such as location, flexibility and hours of work
- Assistance with lifestyle essentials, such as food, accommodation and staff discounts
What next?
Identifying your EVP brings you one step closer to attracting and retaining the right employees who are aligned to your company culture.
And with the right employees, you will be one step closer to your better company culture.
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