FYI, EVPs are just as crucial as UVPs

FYI, EVPs are just as crucial as UVPs

A marketer looks at employer branding

We regularly talk about UVPs (unique value propositions) in marketing. So often, that I wonder if our clients think we sound like a broken record. I am sure you’ll be relieved to learn that this blog is not about UVPs – it’s about EVPs. While the two are related, they’re entirely different.

So, what is an EVP? It’s an employer value proposition. Just like how a UVP is at the root of a successful brand, EVPs are at the root of an employer brand. They serve the same function, only for prospective employees instead of customers.

What’s an employer brand and do I need one?

An employer brand is at the core of your company’s recruiting program and defines what makes it an attractive place to work. Chances are, you already have an employer brand. Chances are even better that you’re not nurturing your own employer brand or giving it the attention it deserves.

If you have people knocking on your door and the right talent is begging to work for you, consider yourself lucky.

In order to win the war for talent in today’s job market, most companies need to learn how to attract top performers. The key is to develop an employer brand that makes talented people want to join your team.

The importance of EVPs in an employer brand

In a 2017 article by SHRM.org (the Society for Human Resources Management), they refer to EVPs as the “brand building blocks” that 84% of the world’s most attractive companies have in common.

Knowing that EVPs are set to make a statement about how companies want to be perceived by an employee, top-ranked companies have made a concerted effort to define employer brand and deliver value propositions that have real meaning to their employees.

EVPs are the reasons people lists when they describe why they want to work for your company. They are the reasons they say they love their job. They are the reasons people stay.

Specifically, they can be PTO or work-from-home policies, competitive salaries or amazing perks, intangibles that are hard to pinpoint like culture and environment – and everything in between.

Regardless of the role, small companies pull from the same talent pool as the big companies. Whether a company has 20 employees or 20,000, EVPs will be the core of convincing new employees to accept a position.

When the overwhelming majority of the world’s most attractive companies like Google, Goldman Sachs and Apple hold EVPs as an essential part of their brand, it sends a signal to smaller companies that they should follow suit.

EVPs aren’t just for HR; marketers should care too

There was a time when human resources and marketing rarely crossed paths, but those days are gone. Like many fields, the convergence came with technology, the Internet and social media.

Just as a person who’s car shopping goes online to learn more about makes, models, pricing, and reviews, so does a job seeker. Those potential employees are “shopping” for a new job by looking at your website, reading reviews about your company and getting opinions from friends. More importantly, they are comparing what they find about you with other companies hiring for a similar position. It becomes clear that a company’s brand as an employer is an integral part of their overall brand.

If a potential job seeker passes over your company’s job posting in favor of another more attractive company, they are responding negatively to your EVPs. They are making a brand decision by not applying for your job. Anytime someone chooses another brand over yours, whether it’s buying a product or applying for a job–marketers should take note.

In closing, we have good news for marketers – building EVPs and an employer brand is easier than it seems. As long as your company cares about its employees, works to build a great working environment, while attracting and keeping top talent. And what company wouldn’t want that?