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AI in recruitment: Strategies, ethics and limitations
Discover the current state of AI in recruitment, ethical considerations, and how to use it.
When you go beyond employment and a salary; what else makes working for your business special? It’s the perks, benefits and programs you offer. It’s your 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.
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 great EVP to retain your staff and recruit great new talent.
It covers:
- The core elements of an EVP
- How to get started with an EVP
- Employee EVP survey template
- Leadership EVP workshop template
- How to show off your EVP
- A sneak peek of Employment Hero’s EVP
Disclaimer: The information in this guide is current as at 4th March 2024, and has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (Employment Hero). The views expressed in this guide are general information only, are provided in good faith to assist employers and their employees, and should not be relied on as professional advice. The Information is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising either directly or indirectly as a result of reliance on, use of or inability to use any information provided in this factsheet. You should undertake your own research and seek professional advice before making any decisions or relying on the information in this guide.
How does an EVP reduce annual employee turnover?
With the ongoing disruptions of the past few years, one thing is becoming increasingly clear; both talent acquisition and retaining existing employees are going to be extremely difficult in 2024.
If you thought you’ve seen a lot of employee movement in 2023, we’re sorry to tell you that this trend is far from over. According to the Singapore Business Review, 3 in 10 Singaporeans are planning to change jobs in 2024.
Yep, you read that correctly. Singaporean workplaces could lose nearly a third of their teams this year. Whether you’re looking to decrease annual employee turnover or improve new hire commitment, a strong employee value proposition is an absolute must.
If you’re thinking about refreshing your employer brand, now is the time to act.
How can Employment Hero strengthen your employee value proposition?
We understand that making the 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 as we head into the new year, integrated with the time-saving and admin-reducing features of our cloud-based HR and payroll software.
So, let us give you a little tour of the EH benefits that you can use to craft a unique 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.
ShoutOuts Feed. Company-visible expressions of recognition make it easier for employees to communicate with one another, breaking the ice that can sometimes build up between teams that don’t often collaborate with one another.
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.
2. Self-paced learning
Learning Management Systems (LMS) are one of the best ways to empower your team to upskill themselves. Whether you want to make training mandatory or give them the freedom to explore online courses, using an LMS is the easiest way to make learning a part of the everyday.
With Employment Hero’s LMS, your team can access thousands of on-demand courses, anytime and from wherever they’re located. It’s integrated with our platform; so they can track their achievements and progress.
You can also upload your own original content if you’d like to create a module that’s specific to your business.
Want to take a sneak peek at Employment Hero’s EVP?
Want to see a real-world example of how Employment Hero’s tools can help strengthen your employer value proposition? Well, as we happen to be our own customer, we can give you a sneak peek at ours!
Through this articulation of our EVP, we’re trying to show that the person who takes the role will be mentored and encouraged to grow. We want to convey that we’re a workplace that invests in its team and appreciates open communication.
We then list our workplace benefits, which utilises features from Employment Hero, in addition to things like quarterly celebrations, flexible working and more. What’s produced is a well-rounded but succinct offering.
Showcasing our employer brand through job ads
Here’s an excerpt from one of our recent job ads for a role in marketing. Look out for our platform benefits mixed into our unique workplace benefits.
Why Employment Hero? We’re a team made up of experts, so there are plenty of chances for you to learn, grow and get some one-on-one mentorship from some talented marketing geeks. We want to help you grow and we value open and honest feedback and support.
Benefits:
- Remote-first and flexible working arrangements
- A generous budget to spend on setting up your home office (if you need a desk, chair, or screen? We’ve got you covered!)
- We set you up for success with the latest and greatest hardware, tools and tech
- Learning and development (including an external study policy, live monthly professional development classrooms, and premium online learning content!)
- Reward and recognition programs – because great work should be recognised and rewarded
- Including Lightning Award for delivering quality work at speed and Values Champion Awards
- Self, health, wealth and happiness programs
- Social events and team celebrations
- Employee Share Option Program: be an owner of Employment Hero
- Annual Global Gathering to get to know your global colleagues – so far we’ve been to Thailand, Vietnam and are excited to meet in Bali in September 2024
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.
Looking for more resources on building an EVP?
Here are some great resources to learn about creating a great employee value proposition:
- What is company culture?
- Signs of a healthy work environment
- Signs of a toxic workplace
- Easy to use EVP strategy worksheet
- 10 popular employee benefits
- Why you should foster a culture of reward and recognition
- Creating an employee recognition program
Download our EVP guide for free now.
