Today more than ever, EVPs or employee value proposition is gaining prominence – amongst active job seekers and employees thinking of their next workplace. EVP is an employer’s promise to employees that includes all tangible benefits and softer rewards in return for their commitment. The ‘value promised’ – often a combination of 3 – 5 pithy but potent messages – comes across company websites, internal and external messaging, and the organization’s physical spaces.
Why are EVPs crucial for job seekers?
Most people survey today posit how prospective employees (especially Millennials) rank a company’s culture as high as compensation. Admittedly, EVPs shape company culture. That is why it gets vital for job seekers to scrutinize if a company’s culture resonates with the unique person they are or want to grow into.
Most EVPs speak (directly or indirectly) about people practices – such as performance management, shared values, learning opportunities, growth, and exposure. The second benefit of examining EVPs is that a job seeker can benchmark it against other companies and better imagine how life at a future company will feel.
Let’s take an example to play out how EVPs function
Post-pandemic, the emphasis on employee well-being has grown manifold. Consequently, the topic of work-life balance has come up more than ever. After all, two years of remote work has shown that employees can benefit significantly from the autonomy of working from anywhere.
Learning from this, a few progressive organizations are creating work practices (and investing in remote work hubs) that foster genuine engagement and higher employee satisfaction. The definition of ‘work’ at these companies is shifting from ‘input’ to ‘output.’ This is an example where a cultural practice – ‘work-life’ balance – is organically brought into a value proposition (and more than an HR principle)
Changing Roles? How to leverage EVPs
First, it takes little time between reading an employer’s value proposition and deciding if it will fire up your passion! Beyond your roles and competencies, committing to a company’s mission is a matter of finding a cultural fit. Delivering enthusiastically on KRAs becomes a natural progression when this fit is great.
Said another way, either an EVP perks you up or it doesn’t. So, before you sign on the offer acceptance, consider it well; the ‘middle-ground’ choices don’t work best in the long term.
How does a job seeker bring a critical eye to EVPs?
- Website – Begin by spending time reading the company’s EVP page.
- Talk to employees – Discuss with the hiring manager and recruitment teams how the EVP is brought to life in the real world. Best is to talk to the employer branding team, as they are the ones who connect all the pieces together and would be able to explain the value proposition of an organisation better.
- External sites – Study the social media handles, the organisation’s digital campaigns and the reviews of employees/ex-employees on the employer review sites like Glassdoor, Ambition-Box etc., to gauge the culture and other rewards beyond the paycheck. Keep an open mind while reading the reviews, as some of them can be deliberate, as there’s always two sides of a coin. Ultimately, you’re the best judge.
- Lastly, check our social network for ex-employees and friends-of-friends and quiz them on their first-hand EVP experiences.
Since 2000, Maveric Systems has been a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.
Working with global and regional leading banks, Maveric teams are at the forefront of tech adoption. Transparent people strategies are co-created at Maveric from ground-up insights and executed at scale with trademark speed. Our Employee Value Proposition is exceptional projects, outstanding learning opportunities, exceptional leaders, a distinctive culture of learning and adventure, all of which adds to the bottom line i.e., employees’ accelerated growth.