Why do I want to work for your company?
WHAT’S A COMPANY STORY?
In a tight labor market, when your company is competing for a limited number of job applicants, you want to let potential employees know why your company is worth working for!
Your “company story” is not just a history of how your company came to be, or even what it does to make money! Your company story needs to be a statement that tells potential & current employees, including the public, everything of value that your company offers its employees—this may include pay, benefits, workplace perks, training, and career development opportunities.
WHAT IS IT?
An Employee Value Proposition (EVP) is a statement or paragraph that tells potential employees, current employees and the public everything of value that your company offers its employees—pay, benefits, training, career development opportunities, time off to volunteer, etc.
WHY IS IT IMPORTANT?
- It helps differentiate your company from your competitors. If your company offers a benefit that stands out from a competing employer, such as unlimited paid time off or a pension plan, you can emphasize this in your EVP.
- A compelling EVP will aid in improving staff retention by accurately reflecting the wants of both current and future employees—which will help you sustain the growth and future of your company.
DEVELOPING AN EVP PLAN
Step 1: Review Your Company Offerings in Detail
List all the benefits currently being offered to employees that could be perceived as valuable. Include both traditional compensation and benefits along with other perks that convey your company’s culture and brand—such as a casual dress code, volunteer opportunities, holiday bonuses, company retreats, no weekend work, or robust employee resource groups.
Step 2: Ask Your Employees
The most successful EVPs are built on workers’ specific wants and needs. Employers should collect data from employee surveys that evaluate employee satisfaction and engagement. While compensation and benefits are often at the top of everyone’s list, you may be surprised to learn what else is helping to retain your workers—or causing them to leave. Conversely, get ready to hear the negative by asking, “what don’t you like about working for the company?” Surveys need to be confidential and anonymous to make it safe to obtain honest answers from your employees. Comparing data on existing and desired benefits will help identify gaps in your benefits program.
Step 3: Identify Future Hiring Needs
Retaining current employees is essential, but employers must also consider future recruiting needs. Forecasting the future talent needs of your organization can ensure optimal marketplace success and the ability to stay competitive. Review the areas of needed growth and expansion within your company and project the types of skills and qualifications that your future employees will need to expand the company’s productivity. Identifying these areas can help you craft more effective job postings that boost your recruiting results.
Step 4: Communicate Your EVP Internally
Once the EVP is defined, every staff member should know about it, especially your company’s management team. It should be clearly understood and communicated at every level of the organization. Consider it the new elevator pitch—a mini-story in paragraph form that can be used as a response to the often-asked question, why do you like working for your company?
Step 5: Distribute Your EVP Externally
Once internal employees are fully informed, invite them to help share the message outside the company. Using testimonials from current employees is a powerful recruitment tool, as job candidates are more likely to listen to what current employees have to say. Employers can utilize social media, intranets, e-mail, text messaging and any other communication vehicle that reaches the public. Sharing the EVP message publicly is important because you never know where your next employee might come from. Customers, clients, and competitors can all be potential employees or referral sources in recruiting.
Step 6: Keep Your EVP Current
Employers must review their EVPs regularly to ensure it remains relevant and accurate. Asking EVP-related questions when employees join or leave the company, during performance reviews, and in employee surveys can provide ongoing data about how employees perceive your company’s EVP.
USE YOUR EVP AS PART OF YOUR COMPANY BRAND!
Whether you want to tout a particular perk that makes your company stand out; express your commitment to diversity, equity and inclusion; or describe the employee attributes that are desired and recognized at your company—employers should summarize the EVP in a clear and concise statement or paragraph. This statement should also be used on your company’s website under the “About” or “Work for Us” career page. Written well and accurately, it can be used to market your company, enhance its reputation, and solidify your company brand!