Your employee value proposition (EVP) encompasses the central reasons that people are proud and motivated to work for your business. You may have multiple selling points to your organisation or one key thing you want to highlight, such as your inspiring vision or distinctive culture. An EVP can mean different things to different people, but when your EVP is integrated into all aspects of your business, it will help retain top performers and attract the best external talent.
Within retail, the brand of the organisation has often been relied upon to attract candidates, which can be seen as arrogant. More and more candidates are now looking beyond the brand name and reputation to understand what the business represents on a deeper level, to see whether or not this links well with their values and beliefs. This is why it is important spend time on your EVP, as top candidates are now paying more attention to your offering, as well as the opportunities that are available for their career.
So, what can an arrogant EVP do to your attraction and retention strategy?
An arrogant EVP in retail
For both large and small businesses, an arrogant EVP is detrimental to your attraction efforts. There is a danger for some organisations to rely solely on their brand reputation, rather than focus on developing a unique EVP that not only attracts candidates, but retains them as well. If candidates read your EVP and feel like it is arrogant, then this could impact their perception of your business and therefore deter them from joining your company both now, and in the future. If hiring managers aren’t able to define their EVP, there is a strong possibility that they could lose potential candidates.
The benefits of a strong EVP
A good EVP will be far more attractive as a proposition to the external candidate market, which in turn will encourage more candidates to apply for opportunities within your organisation. This is closely linked to whether or not a candidate reading the EVP feels that it is aligned with their personal beliefs and requirements. It is not only important to highlight your best selling points and offerings, but also to position yourself in a way that will make people feel excited and want to work for you.
A good EVP not only attracts active candidates but can be used to attract the passive market as well. This, in turn, will extend your reach and give you a better chance of hiring people from your competitors. In today’s candidate-led market, it has never been more important to broaden your horizons when searching for top talent.
When to use your EVP as a tool
In a candidate-driven market, your EVP can be used as a tool at all stages of the process. If it is strong and all-encompassing enough, then you should use it to engage your candidates whenever you feel necessary. In the likely event that a candidate is fortunate enough to have multiple offers, then a strong EVP could be the defining factor as to what organisation they decide to join.
Successful hiring isn’t always based on remuneration. With candidates often opting to go with businesses they feel are closely aligned to their beliefs, rather than looking at who pays the most money. Therefore, being modest and thinking about your business offering from a different perspective when writing your EVP and recruiting in general, can be the difference between hiring the top people, or missing out on your favourite candidate.
How to strengthen your EVP
If you are struggling to recruit and retain people to your business, reviewing your EVP is a good place to start. This will help you to see if you are disengaging with your candidates. It is crucial to periodically look at your EVP and establish a cross-functional team to review the research results and determine the aspects of your business that people value the most. Use this information to draft or rework your EVP, ensuring the following questions are considered:
- Does it align with your strategic objectives?
- Does it clearly differentiate your company?
- Does it paint a realistic picture of what it is like to work for your company?
- Is it inspirational?
Is it simple, but broad enough to appeal to different groups?
You should then test your EVP with existing employees and a sample group from the external market to see if it adequately articulates why an individual would want to work for your company. Once this has been defined, it is important to ensure this is communicated externally and marketed, so that prospective candidates understand the EVP and what the business represents.
If you are interest in hiring top retail and fashion talent to your business, request a call back from one of our specialist recruitment consultants today. If you are looking for a new opportunity, create a MyPage account to find the jobs that are best suited to your unique skill set.
Operating Director, Michael Page