In the midst of countless businesses popping up like mushrooms today, many employers are facing the problem: "How to attract talented people? ". In that ever-evolving labor market, to find the answer to the above problem, it is extremely necessary and urgent to build a professional recruitment brand with its own characteristics. . This is closely related to EVP. So What is EVP?? How to build an effective EVP for business? Let's find out more details with OOS Software in the following article.

What is EVP?

EVP stands for the phrase Employee Value Proposition. Understand in a simple way What is EVP? These can be things that we can easily see, such as salaries, benefits, training programs, special training for the development of members, or it can be Intangible factors belong to more macro scope such as stable working environment, internal connectivity, in general, belong to enterprise value.

The importance of EVP in recruitment

After learn What is EVP?, we will learn about the importance and role of EVP in recruiting personnel, especially talented people. Saying that EVP is the key to recruiting, not only is the core of attracting talent, but also a lever to keep old employees, so let's see, the importance of What is EVP? Please.

EVP helps to attract passive employees and re-inspire former employees

First, EVP is likened to a magnet that helps businesses attract and retain new talent. And is the motivation to boost the morale of the old staff so that they have more positive energy to work and keep the fire at work. EVP is a strategic factor to ensure the quality of human resources.

Thus, if building a quality EVP, businesses not only improve the level of commitment to new employees, but also build trust and motivation for employees to stick with the business for a long time and create a network. Connecting new candidates from the old staff.

Digging deeper, a strategic EVP can help candidates find you on their own. Instead, businesses will have to spread recruitment information throughout the website, through building What is EVP?, the brand of the enterprise will be raised to a new height in the labor market, affirming its position and core values that not all competitors can compete with. And with such a "promised land", is there any candidate who does not desire to try and have the opportunity to develop there?

" See more: 5 Steps to create KPIs & KPI Templates for each common department

Refine recruitment goals

Another role EVP brings to businesses by building EVP is being able to refine recruitment goals. In the process of building EVP, the company is forced to take a deep approach to the needs, simply understood as the main concerns of the old and potential new employees. Once you understand the core psychology of human resources, grasp that important information, you will be able to master the recruitment plan, orient the recruitment strategy, and offer the most attractive benefits to employees. candidate.

Reduce competition for remuneration

If the EVP of the business is suitable and valuable, straight to the candidate's psychology, they will reduce the requirement for a high level of income. For example, in case the salary you offer is not among the highest in the labor market, you can still compete with the competition so that the candidate is ready to join you.

Impress candidates from different groups

An effective EVP will not only be general, but will also hit the psychology of different key groups of workers. For example, the regimens that attract medical candidates are not necessarily the same as the ones you use to attract business candidates.

5 Key Elements of EVP

The EVP consists of many different elements, these attributes determine how your employees and candidates will perceive your business. Together with CoffeeHR distinguish five main factors What is EVP?

Welfare

This attribute, also known as compensation and benefits, covers employee satisfaction with their salary, in addition to additional rewards such as bonuses and other aspects. Fair and performance-based pay is one of the realities of EVP.

Work-life balance

When it comes to the type of benefits employees value most: flexible hours, the opportunity to work from home, vacation time, and paid leave are all appreciated. However, not all plans are right for your business, so adjust accordingly.

Evolution

Career development and stability, opportunities for your employees to advance in their careers, personal development and employee training plans. Of course, this is the learning and development efforts of your employees that work for your business

Work environment

There are many factors that define a good working environment such as a positive working environment, a certain degree of autonomy, work-life balance, etc.

In fact, environmental factors have a lot to do with employee experience in relation to three environments: technology, space and culture.

Respect

Respect is about positive relationships, support, and teamwork, among other things. It's not just about respect, it's about your company culture, its core values and beliefs.

6 Steps to build an effective EVP for your business

Join CoffeeHR to learn 6 steps to build What is EVP? Please:

• Step 1: Analyze the data
• Step 2: Research
• Step 3: Analyze the research results
• Step 4: Build EVP
• Step 5: Implement
• Step 6: Modify

Step 1: Analyze the data

Before starting to build EVP, please re-analyze the regime that the business is applying to employees in the present.

Then, list the benefits Tangible benefits and the second, Intangible benefits in the 2 columns in the image below. These are all benefits that candidates are interested in and are worth mentioning.

Next, think about whether these benefits meet the needs of the potential candidate. For businesses that provide community service, candidates may be more interested in the company's history and vision and mission. While with a technology business, EVP may have to lean more towards Tangible benefits – such as equipment provided by the business, the most modern technology platform, professional task management software most advanced programming languages,..

Step 2: Research

To better understand what potential candidates want and need, do some research. You can start this step by taking advantage of the existing data source of the business, get candidate data from the recruitment source that has been and is in the process of being implemented..

If you don't have such a data warehouse available, start with using online creation tools to create internal survey forms or conduct offline group interviews. The content of the survey is to find out what employees really like about your business, are not satisfied and want to improve more. What motivation will you need to make employees feel happy and attached to the company? Their answers also partly represent the general voice of the labor market.

Some questions you can ask staff during research:

• How satisfied are you with the working environment in your company? More specifically, give it a score on a 10-point scale.
• What kind of treatment do you feel is the most valuable when you receive it?
• Do you have any unsatisfactory points about the business? If yes, can you suggest a solution for the business to improve and develop better?
• Do the modes you receive meet your expectations? Score on a 10-point scale.
• Are you willing to refer candidates who are friends and relatives to work at the company? If yes, why yes? If not, why not?

Next, analyze the results obtained by dividing them corresponding to different groups of employees such as by department, age, etc. Then, find the most common trend of all these groups, on the basis of There you will find the core of the recruitment campaign.

The final step is competitor research. One of the things that attracts candidates is the uniqueness of your business, so if your EVP is similar to theirs, candidates will not be impressed with your business. Make it unique to turn your business into a one-of-a-kind workplace.

Step 3: Analyze the research results

This is the step of processing and in-depth analysis of the results of the survey and research. Do a closer look by consulting influential people in the business, such as major shareholders. In addition, meeting with lower-level management also helps you confirm the modes learned in Step 2.

Step 4: Build EVP

After completing the process of data analysis, research and analysis of research results, you have a certain amount of information to start building EVP. The criteria for evaluating a quality EVP are clear, concise words, using spoken language and hitting the psychology and needs of employers.

Example of an EVP in a job ad:

“What will you get with OOS Software:

• Dynamic, young and professional working environment
• Clear career path
• Reasonable remuneration
• Shift shift, can register to work according to the free schedule
• Salary based on ability
• Annual travel
• Received a trainee certificate

" See more: Justice doctrine What is that? Effective human resource management with the equity theory of Stacy Adams

Step 5: Implement

Once you've completed your business-specific EVP, it's time to announce it to new potential candidates and employees currently working for the business.

Please include EVP in the recruitment process: post on corporate websites, fanpage, Linkedin, include recruitment posts and videos, etc. Also, apply it to the recruitment process, from the time of interviewing the candidate. employees to onboarding, from formal employment to promotion, and building employee relationships.

You can also include EVPs in your marketing content, such as in corporate event press releases.

In addition, you can also offer an EVP when an employee is gone through informal chats with them and emails to stay in touch. Because, if employees leave with a positive attitude, they will most likely be very willing to introduce the company's EVP to many other potential candidates and encourage them to accompany them. This is a very good thing for your business

Step 6: Modify

With the constant change of the labor market, the continuous development of industries and the digital age, EVP wants to bring many high results. each social and environmental context. This can be easily proven as many businesses modify their EVP every year to bring the best benefits to their employees.

To stay on track with each revision, do an internal survey every year to measure the effectiveness of your EVP and find out what you need to change. This action will also help maintain transparency in management and maintain long-term relationships with employees

Important notes when building EVP

There are two main problems that most businesses face when building an EVP:

• Firstly, they cannot find their own characteristics in the labor market. Differentiation is very important if you want to stand out from thousands of businesses in the same field and have almost the same EVP.
• Second, EVP is attractive but does not match the environment and general trends, in other words, EVP does not reflect reality.

To be able to build a quality EVP, you need to pay attention to the following points:

Salary survey

Undeniably, salary is the most important factor in 'valuing' a job position, however it is not all in what candidates use to decide whether to choose a job or not. Therefore, the amount is not enough to build a strong EVP. On the contrary, this is a way to easily spend all the salary budget in the recruitment strategy without making a profit for the business.

As a general rule, review an employee's salary against the industry average every year to ensure that the pay and effort they put in is completely worth it.

Leadership recognition

In addition to salary, recognition from leadership is one of the points that candidates are very interested in and should be clarified in EVP.

In other words, top applicants are looking at the whole thing instead of just the amount. Rewards and recognition, or employee benefits, are sometimes placed above salary by the candidate. Everyone has a need to be recognized for their ability and results, so if leaders have quarterly and annual bonus programs, we firmly believe that this is not only a motivation to motivate all employees with high spirits. working spirit but moreover is a factor promoting the development of the whole enterprise. Recognize all efforts and efforts of employees to create trust and energy for employees.

Corporate culture of the enterprise

Any environment needs a culture to create connection, the core of development. A company that wants to survive and constantly go up, culture is an important factor that cannot be ignored. Moreover, culture is also a factor in retaining candidates when learning about your business. Let's create a culture that makes everyone excited to contribute, work hard every day.

Not to mention, if the company organizes regular events such as awards, employee incentive programs, introduce these from the beginning to candidates. Surely, clearly showing this in the EVP will immediately see an increase in the number of qualified candidates applying for the vacancies.

Hope you can understand through this post What is EVP? along with 6 steps to build an effective EVP for businesses. Thereby, your business will have the right direction in attracting talented human resources. Good luck.

OOS Software has more than 15 years of research and development, is a reliable partner to support human resource management, accompanies many large enterprises and corporations in the market. Contact now to get advice on Recruitment Software for your Business.