Employees want to be part of something special: a workplace where their values align with the company's mission and their contributions matter.
An employee value proposition (EVP) is what makes workplaces attractive to potential hires and drives employees to stay long-term. It's about creating an engaging environment where employees don't just work — they grow, succeed, and feel truly appreciated. Let's explore how to build an effective EVP.
What is an employee value proposition (EVP)?
An EVP is the unique set of benefits and values that an organization offers to its employees. It includes everything from compensation and benefits to company culture. A strong EVP helps attract and retain talent by clearly communicating what makes the organization a desirable place to work.
The best EVPs go beyond just listing compensation, benefits, and perks. They capture what makes a workplace unique, whether that's exceptional work-life balance, outstanding career development opportunities, or a company culture where employees feel truly valued.
While employer branding and company values are also important, an EVP is slightly different. Branding and values refer more to a company’s identity and reputation. The EVP represents the day-to-day employee experience. It touches every part of how employees interact with a company, from the first visit to the careers page to when they leave. It shapes company culture by influencing how they experience their work environment, develop their skills, and grow in their roles.
An effective EVP should be accessible to both current and prospective employees. For example, Canva’s EVP — which appears
on its careers page for applicants to see — explains its company culture and key benefits in an easy-to-read format. This allows potential employees to understand the workplace, encouraging them to apply. Ideally, an EVP should also appear in employee documentation, like a handbook.
5 components of a successful employee value proposition
A strong employee value proposition features key elements that work together to attract talent and create an engaging employee experience. Here's what to include in a complete EVP that resonates with candidates and builds up an employer brand:
1. Compensation and benefits
A company’s EVP starts with meaningful compensation. This means competitive base pay and performance bonuses, but it also extends to benefits like comprehensive healthcare and retirement plans.
To stand out, a truly effective EVP goes a step further to prioritize employee well-being, including
financial wellness. That’s where EarnIn comes in. To support employees on their path to financial freedom, EarnIn offers tools that provide flexibility and peace of mind. With Earned Wage Access, employees can access up to $150 per day, with a max of $750 per pay period
as they earn it—and receive their money in minutes, starting at just $2.99 per transfer.
Paired with Tip Yourself,
a tool that encourages consistent saving habits, EarnIn empowers employees to better manage their money. The result: less financial stress and more
focus at work.
2. Work-life balance and flexibility
Supportive policies like remote work, flexible schedule, or PTO demonstrate that an employer truly values and respects employees. Employees often seek out roles that give them the freedom to manage their time, care for their families, and prioritize their well-being without sacrificing career growth.
3. Growth and development
Career development opportunities are crucial for helping employees feel
empowered and motivated. An EVP should outline clear paths for advancement, including training programs, mentorship opportunities, and resources for professional growth.
4. Culture and community
An EVP must capture what makes the company culture special. This includes how teams collaborate, how leaders celebrate wins, and how employees experience the company values. The best EVPs show candidates they're joining more than just a workplace — they're becoming part of a community.
EVPs should also explain the basics of a company’s mission and values. Company values, like integrity, respect, and diversity, greatly influence the employee experience, so potential applicants should know what they are.
5. Support and resources
Give employees the tools they need to succeed. This means providing the right technology, offering development resources, and making sure they have support when they need it. The strongest EVPs show that employers are not afraid to invest when it comes to helping employees do their best work.
Benefits of a strong employee value proposition
We’ve answered the question “What is an EVP in business?” — but what makes it so important?
Here are some of the most impactful EVP benefits:
Stronger hiring process
Many candidates look beyond salary numbers. Top talent wants to work for employers who offer meaningful opportunities, have extensive benefits, and create a work environment where they can thrive.
Better employee retention
Businesses that establish an EVP where employees feel valued and supported see reduced
employee turnover by
nearly 70%. That means employees stay longer, saving employers the time and money they might spend finding replacements.
More efficient hiring
When companies do need to hire new employees, a thoughtful EVP makes the entire hiring process smoother and more efficient. When candidates browse a careers page and instantly connect with the work environment and culture, a company is more likely to attract people who truly fit the culture.
Enhanced employee engagement
An EVP
motivates employees. When people have access to benefits other than conversation — like work-life balance and career development opportunities — they’re more engaged, productive, and committed to their employer.
That ripple effect touches every part of a business, including the customer experience. A
2020 Gallup study found that engaged employees had higher performance areas in several areas, including client loyalty and engagement.
Increased business growth
Engaged employees are more productive, drive innovation, and contribute to business success. This means companies with a motivating EVP are more likely to see higher performance in the long run.
How to develop an effective employee value proposition
Creating an EVP that builds an employer brand and attracts the best talent takes time, effort, and data. Here's how to do it:
1. Look at examples of employee value propositions
Consider what other employers are offering. An EVP needs to stand out, and understanding the current landscape helps companies position themselves effectively. Pay attention to how they present themselves on their careers page and what seems to resonate with top talent.
2. Understand the current employee value proposition
If applicable, start by reviewing what the company already offers. An EVP should build on and highlight existing strengths. Review the benefits packages, culture, and what makes the work environment special.
Current employees are a key source of insight. Ask them what they love about working for the company and what could be better. Their feedback helps shape a relevant EVP and offer guidance on areas to invest in.
4. Write up a first draft
Now it's time to bring it all together. The EVP should reflect a company's unique voice while highlighting what makes it special as an employer. Focus on what really matters to employees and aligns with the employer brand. Include key components, such as compensation and benefits, growth opportunities, and work-life balance.
5. Plan implementation
Rolling out an EVP isn't just about updating a company’s website. Share it with hiring managers, incorporate it into recruitment materials, and make sure everyone understands how to communicate the employer brand consistently.
6. Monitor and adjust
An EVP isn't set in stone. Gather regular feedback and make updates as the company evolves. The best propositions grow and change along with an organization.
Build a stronger employee value proposition with EarnIn
A compelling EVP is critical for attracting top talent and keeping them around. It encompasses everything from competitive compensation and benefits to career development opportunities to a positive work environment. Increasingly, companies are recognizing that financial wellness is a critical component of a strong EVP. A SoFi survey found that
74% of employees would stay with an employer if they had access to financial well-being benefits.
EarnIn gives employees access to on-demand pay and a suite of tools to help protect against overdrafts,
save for the future,
and more. Offering EarnIn as a benefit is simple: there's no need to integrate with payroll, time and attendance, or HRIS systems, and it comes at no cost to employers. By easing financial stress and offering greater flexibility, a benefit like EarnIn directly supports key company goals including hiring, engagement, and retention. When employees feel both financially and personally support, they are more likely to stay motivated and committed to their work.
Please note, the material collected in this post is for informational purposes only and is not intended to be relied upon as or construed as advice regarding any specific circumstances. Nor is it an endorsement of any organization or services.
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