Redefining your EVP for 2022

Back in 2019, our Head of Employer Branding, Kerry Jones, explained the benefits of a great Employer Value Proposition in our article ‘EVP: ‘Marketing fluff’ or a real talent attraction tool?’ Nearly three years - and one global pandemic later – we’re revisiting Kerry’s thoughts and analysing how the importance of a solid EVP has heightened against changing backdrop of COVID-19.

1.    Attracting the right talent & reducing attrition

“Ultimately, having a well-defined and authentic EVP will help reduce attrition – particularly in the early days after a new starter joins - saving you the time and cost of replacing them.” Kerry Jones, 2019

Arguably, with 2021 being deemed the year of both ‘The Great Resignation’ and ‘The Great Reshuffle’, implementing an attractive EVP to mitigate attrition rates is more important than ever. Competition for STEM talent is at its fiercest in several years.

Let’s be abundantly clear about one thing: you will need to actively fight to attract & retain talent in 2022. And one of the best ways you can do this, is by capturing, distilling and communicating your authentic Employer Value Proposition. The companies that invest the most in an authentic and compelling EVP will be the ones who struggle the least with retention and attraction.

2.    Promoting your commitment to diversity

“If your company is truly passionate about diversity, it’s definitely something that should come across in your EVP” Kerry Jones, 2019

A mistake we still see frequently in 2022 is companies trying to attract and retain talent with a magnified focus on salary and bonus packages. Of course, these more obvious tactical elements such as pay & reward are beneficial to candidates, because they help them achieve their wider goals in life.

However, businesses would be irresponsible to ignore ESG (Environmental, Social, and Governance) measures when reviewing their EVP for 2022. Issues pertaining to diversity & inclusion, environmental concerns and future sustainability will begin to dominate board room conversations - just as they have dominated the news - and play a critical role in STEM talent movements.

In a recent article, we explored how seismic global events around race and equality in the last three years have caused employees to turn their attention to their employers and ask the biggest questions there are.

Click here to find out more about how your business can tackle the big questions in 2022.

3.    Engaging your employees to become advocates

“Keeping the promises you make in your EVP is important for ensuring you get the buy-in of your staff and get those referrals to make your recruitment process that much easier.” Kerry Jones, 2019

Whilst this is still true in 2022, simply delivering on a “top down” EVP is not enough.

Outside of perks & benefits, learning & development opportunities and clear career pathways, consider the details that might be beneficial to current and potential employees:

• The culture & people within the business; what it feels like to work there
• The line manager and immediate teams
• Belief in the leadership team and the direction of travel
• And working expectations including on-site, office-based, remote or hybrid.

All of these details have to be explored in collaboration with your talent, not on behalf of. Listening to your employees is key to creating a sustainable, relevant, and compelling EVP. It cannot be something that is created from the top down.

Everyone perceives benefits differently – for some, professional development will be the most attractive proposition, while others will care more about flexible working or a company’s Cultural Social Responsibility (CSR) programme.

An EVP developed with the interests of the individual at its core is a sure-fire way to ensure your employees advocate for their workplace.

This is where Our Employer Branding Services comes in. Our Employer Branding Agency is designed to help you cultivate and subsequently communicate company culture, proposition and image that authentically represents who you are as a business with your employees in mind, from your EVP to your ESG measures. Click here to find out more about our Employer Branding Consultancy programme specialising in companies hiring STEM talent.