What is an EVP & People Strategy?

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In a nutshell, an Employer Value Proposition (EVP) is the reason people choose to join, stay, or leave your business. It’s the foundation of your people strategy.

However, EVPs often fall short by focusing solely on a list of benefits that employees receive in return for their skills, experience, and capabilities.

Typical components of an EVP include:

• Compensation
• Benefits
• Career Development
• Work Environment
• Company Culture
• 
  

But let’s be honest—you’re not looking for a ‘typical’ EVP, because it simply doesn’t work! Many organisations mistakenly believe they can create a positive company culture by offering benefits and initiatives alone.

In reality, a great company culture is built on solid company values and a clear brand identity. Only when these are established can you create a compelling EVP that genuinely nurtures and strengthens your culture, resulting in an authentic and sustainable people strategy.

 The Employer Value Proposition (EVP) is crucial for several reasons:

1. Attracts 'Top Talent'
2. Increases Employee Retention
3. Enhances Employee Engagement
4. Boosts Employer Branding
5. Positive Company Culture
6. Improves Recruitment Efficiency
7. Drives Business Performance
8. Supports Diversity & Inclusion
9. Aligns Employee & Business Goals
10. Reduces Recruitment Costs

In summary, an effective EVP is essential for attracting, retaining, and engaging employees, enhancing the company’s brand, and contributing to the overall success and growth of your business.