How To Create An EVP From The Ground Up
Published
How To Create An EVP From The Ground Up
Published
It’s the perks, benefits, and programs. It’s the business values, vibe, and structure.
These are all the things that make up a company’s employee value proposition (EVP), one of the most useful recruitment tools used by HR professionals. A compelling employee value proposition can be the difference between attracting and retaining top talent or losing them to competitors.
What is in this guide to building an employee value proposition (EVP)?
In this guide, we’re going back to basics on how to establish a strong EVP to retain your staff and recruit great new talent. A well-crafted EVP not only enhances employee satisfaction but also shapes a positive workplace culture that appeals to potential employees and keeps current employees engaged.
It covers:
- The core elements of an EVP
- How to get started with an EVP
- Employee surveys to understand what your employees truly value
- Leadership EVP workshop template
- How to show off your EVP
- A sneak peek of Employment Hero’s EVP
How can Employment Hero strengthen your employee value proposition?
We understand that making employee experience great is a key part of being an employer or HR manager. When we decided to build a platform to make employment better and more valuable for everyone, we knew that employee benefits and rewards had to be a key consideration.
Employment Hero can give your EVP the boost it needs, integrated with the time-saving and admin-reducing features of our cloud-based HR, recruitment and payroll software.
So, let us give you a little tour of the EH benefits that you can use to craft a compelling employee value proposition and build an irresistible company culture.
1. Reward and recognition tools
Employment Hero has a suite of reward and recognition tools to make sure that every single person on your team feels appreciated, ultimately increasing employee satisfaction.
Shout Outs Feed
Using the company feed on the Employment Hero app, shoutouts can be submitted on either mobile or desktop, making it super easy for employees to recognise each other. This is a highly visible show of thanks, making sure that no great work or special day goes unnoticed.
Hero Points
Hero Points are the on-platform currency that employers can use to offer financial compensation to their staff for exceptional work. This can be aligned with superb performance and have a value each time they are awarded.
Small tokens of thanks can keep current and future employees feeling encouraged and motivated. Hero Points also go further on the platform, as your team can redeem financial rewards at a discounted price on our Discounts marketplace.
2. Benefits
A strong EVP isn’t just about salary – it’s about creating an environment that promotes work-life balance and provides meaningful perks.
Discounts
Employment Hero Benefits is Employment Hero’s on-platform marketplace, which is home to thousands of services and household items. Powered by the aggregate buying power of over 200,000 users, your team can access reduced prices on health insurance, tax and accounting services, UberEats vouchers, household goods, tech, gym memberships, and movie tickets.
Earned Wage Access
Earned Wage Access is a service run by Employment Hero that allows employees to access a portion of their earned wages in real time without having to wait for the next pay run. It’s the perfect service to reduce financial stresses and can help your team manage unexpected one-off expenses, with no need for payday loans.
Instapay comes without any additional payday headaches for employers.
3. Employee Assistance Program (EAP)
A positive workplace culture prioritises employee well-being. An employee assistance program (EAP) is a program that employers can provide to their employees and their immediate family members so that they can access professional counselling and support services.
Our EAP offers 24/7 confidential support, helping maintain a strong employee value proposition that focuses on mental well-being. Each employee will have access to free counselling sessions throughout the year. This includes a manager support hotline, critical incident response team, and immediate crisis counselling. They will also have a dedicated account contact to help book their sessions.
4. Learning and development
A company’s commitment to career development is a major factor in attracting and retaining talent. Future employees want to know that they’ll have the opportunity to grow and develop within your organisation.
A strong EVP includes continuous learning, and Employment Hero’s Learning Management System (LMS) helps businesses upskill their workforce with:
- Thousands of on-demand courses
- The ability to upload custom training content specific to your business
Using focus groups and employee surveys to strengthen your EVP
A great EVP isn’t built in isolation. It’s important to involve your team through focus groups and employee surveys to understand what they value most. These insights help refine your EVP and ensure it aligns with employee expectations.
Want to see a real-world example of a strong EVP?
As we happen to be our own customer, we can give you a sneak peek at how Employment Hero crafts its EVP. We highlight mentorship, company culture, and benefits like flexible working, wellness programs, and ongoing career development.
Craft a great employee value proposition
Building a compelling EVP statement will take an investment of time and energy from you and your team. But it will be worth it when you see the positive impact it has on your business. Now that you know the benefits of having a strong EVP, download our guide now to get started.
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