An Employee Value Proposition (EVP) is not a marketing campaign. It is a promise to employees — it encompasses all aspects of the employee experience and how these show up.
Research from CEB and Towers Watson shows that organizations that effectively deliver on their EVPs:
- decrease annual employee turnover by 69%
- increase new hire commitment by 29%
- are 5x more likely to report their employees are highly engaged
- are 2x as likely to report achieving financial performance significantly above their peers
An Employee Value Proposition poses the questions:
- Why should someone join your company?
- What is your company’s differentiated competitive position?
- Why should people want to work at your company?
Essentially, your EVP exemplifies who you are and who you aspire to be when you’re at your best. However, the concept can sometimes feel ambiguous and can be hard for companies to pin down.
Some of the tangible things an EVP includes are your:
- Career development and training programs
- Benefits, perks, and compensation
- Company culture
- Work environment
Employee value propositions are best delivered through ongoing conversations and your visual identity with the intention to inform, inspire, influence, and mobilize.
Your EVP also contextualizes your mission, vision, purpose, values, and culture and clarifies what this means to and for employees.