Your ERS - EB and EVP

ERS 2 of 10

In this series we are looking at creating, implementing, and executing an Employee Retention Strategy for the survival of your business over the next 24 months. 

In part 1 I identified the 9 components of your Employee Brand and your Employer Value Proposition that make up your Employee Retention Strategy and today I’ll outline the basics of what an EB and EVP are.

Your EB describes your reputation as an employer, reflects your employee experience and retention values and markets your business to prospective talent. 

Your EVP reflects the unique benefits an employee receives in return for the skills, capabilities, and experience they bring to the table. 

Your EB combined with your EVP help you to attract top talent raising your talent bar and help you keep talent engaged and retained especially in a highly competitive job market.

95% of candidates identify a company’s reputation as a key consideration when exploring new career opportunities and whether you intentionally designed your EB or allowed the market to design it for you every business has one and it reflects what job seekers and employees really think of you and what they tell their friends and family about you.

To create your EB and EVP Statements, I recommend the following 9 steps. 

1. Engage a service provider like Ripple to guide you through the process from an analytical unbiased position.  

2. Survey your employees to understand your existing EB and EVP.  You can also survey suppliers and customers to gain further insights into your current EB.  The positives revealed in your surveys will identify your areas of strength and the negatives will identify opportunities for improvement. 

3. Build a strategic team comprised of your service provider, managers and leaders and your marketer. 

4. Together review your company’s values and vision being sure that they are current, and they are understood by everyone because only 28% of employees feel fully connected to their company’s purpose.

5. Review your employee diversity and understand the expectations of each sector and generation.

6. Create the story you want your employees and general market to share about your EB and EVP. 

7. Identify how do you want to stand out from your competitors. 8. Write your EB and EVP statements to authentically reflect the value of your employees and describe your employer-employee relationship.

9. Consult your all your employees to gain their buy-in, asking if they will be prepared to be Brand Ambassadors when you deliver on your EB and EVP statements. 

Please contact me at any time for advice or to ask a question and remember that RIPPLE has all the services you need to plan, implement, and execute your Employee Retention Strategy.