Employer Brand and Value Proposition - TARS Component 2

At its core, every business aims to survive and prosper as a sustainable and resilient entity.

For those businesses seeking to hire employees, it is crucial for owners to prioritise the development of a well-crafted Employer Brand and Employee Value Proposition as part of their talent acquisition and retention strategy.

These components should be carefully designed, regularly updated, and effectively communicate the company's unique value proposition in the marketplace. This is especially important as studies show that as much as 92% of employees would be willing to switch to a company with a superior EB and EVP.

So, why are they important and where to from here? 

Your EB and EVP are also important because 95% of candidates identify a company’s reputation as a key consideration when exploring new career opportunities and whether you intentionally design your EB or allow the market to design it for you every business has one and it reflects what employees and customers really think of you and what they tell their friends and family about you.

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 can expect in return for the skills, capabilities, and experience they bring to the table. When your EB and EVP are combined, they help a business attract top talent raising the talent bar and keep talent engaged and retained especially in highly competitive job markets.

To create your EB and EVP follow these 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 and you can also survey suppliers and customers to gain further insights.

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

4. Review your company’s values and vision ensuring they are current, relevant and appeal to your employees. Only 28% of employees feel fully connected to their company’s purpose.

5. Review your employee diversity, equity, inclusion) positioning.

6. Define the story you want your employees and customers to share about your business.

7. Identify how you want the business to stand out from your competitors.

8. Document your EB and EVP.

9. Formally share your EB and EVP with your employees to assess their potential engagement with it remembering your employees have the potential to be your most loyal and vocal Brand Ambassadors.

Incorporating your employer brand and employee value proposition into your talent acquisition and retention strategy brings you another step closer to creating a dynamic resilient business. 

If you need help in this area, please give me a call otherwise stay tuned for the 2nd component of a how to design an effective talent acquisition and retention strategy.   

We look forward to helping you get started on talent focused strategy and supporting you through the entire process.