4 steps to a unique and compelling Executive Employee Value Proposition
A truly unique and compelling Executive Employee Value Proposition is vital for any organisation looking to attract and retain top talent at Executive level. It is important that it is a true representation of your company culture and attitudes to staff, and that it aligns with the strategic vision for the business. Here are our 4 simple steps to follow to create a great EVP:
- 1. Agree your goals
- First, you need to have clear goals for recruitment and retention in your business so that you can specify how your Executive EVP should support these. The following questions are likely to be helpful:
- What are the long term strategic goals for the business which need to be supported by your Executive recruitment and retention practices?
- What are the key recruitment challenges your organisation is facing?
- What candidate persona are you trying to attract?
- What candidate persona are you trying to retain? If this is different from the persona you are trying to attract then why is this the case?
- How do you expect your EVP to help the business?
Once you understand why you need to recruit and retain top talent, it becomes easier to define why you are developing an EVP and what it is being designed to achieve.
- 2. Understand your current position
- In order to develop a truthful and compelling Executive EVP, it is essential to understand the current reputation of your business as an employer, and how you compare to your competitors. There are several potential ways to do this:
- Conduct a survey of your existing Executive team. You want to understand why they joined you, what are the best and worst things about working for you, and why do they stay?
- Conduct Exit interviews with senior staff who leave and ask them why they have taken that decision.
- Look on websites such as Glassdoor to see what current and past senior employees are saying about you.
- Commission a survey of potential candidates to find out what view they have of the culture and brand of your company, and ideally how they have formed that opinion.
- Research your competitors and whether they have a clearly promoted EVP for their Executive team. How do you compare in terms of reputation, compensation etc?
- 3. Define your new EVP
- In a nutshell, your EVP should be a clear statement of the value candidates get from being your employee. This should include the following details:
- Compensation – basic salary, bonus schemes, share options, car allowance etc
- Employment Benefits – pension, private healthcare etc
- Career Development and Support – onboarding, ongoing training, mentoring, promotion prospects, business growth plans etc
- Work environment – location and accessibility of offices, layout of offices, parking, flexible working etc. Is it a pleasant environment to spend time in?
- Culture – leadership and management style, social aspects etc
- 4. Communicate it!
- Now you have created your truly relevant, unique and compelling Employee Value Proposition, it’s time to communicate it. It is important that the communication is clear, concise and consistent across all channels which may include:
- A specially designed Careers Site to direct prospective candidates to, or the Executive Careers section on your main website.
- Social Media – LinkedIn, Facebook, Twitter and other social media platforms allow you to broadcast your new EVP to your contacts and those of your staff. They also offer targeted paid advertising opportunities to get on the radar of potential candidates outside your network.
- All internal communications channels – Intranet, Email, Newsletters etc
- Job Advertisements – every time you advertise a senior vacancy you have an opportunity to advertise your EVP. Many companies neglect to advertise why they are a great place to work – you can stand out from your competitors.
- Job Descriptions – be sure to include what the employee can expect from your EVP if they excel at the listed duties. It makes it a much more engaging document and reminds them why they joined you.
By following these simple steps, you can achieve a great Executive EVP which is formulated in the right way to support the goals and ambitions of both your staff and your business.