What Is An EVP: Attracting & Retaining Top Talents

Key Takeaways

• A strong EVP works like a people-magnet, attracting candidates who connect with your values while keeping current folks happy and engaged.
• Your EVP needs to match what candidates want, from growth opportunities to recognition programs that celebrate customer service wins.
• Companies with solid EVPs can pay up to 50% less in premiums while getting 29% more committed new hires.
• High employee turnover hurts morale and productivity, which is why a well-crafted EVP that values contributions and offers career growth can dramatically reduce turnover.
• TTEC is guided by seven powerful EVPs that emphasize continuous growth and collaboration among the global team of 55,000+ professionals in 21 countries.

What Is An EVP?

The work world has changed a lot lately, and grabbing (and keeping) great employees is tougher than ever. With tons of job options out there, people are getting pickier about where they work. 

That's why having a strong Employee Value Proposition (EVP) is super important. It isn’t just some fancy HR term – it's the backbone of your talent strategy that helps you attract and keep the best people on your team.

Understanding Employee Value Proposition

An EVP is basically the deal you offer employees in exchange for their talents and hard work. It includes everything from the obvious stuff like salary and benefits to the less tangible things like company culture, growth opportunities, and work-life balance. 

Think of it as your special "offer" that makes your company different from others.

The Impact of EVPs in Today's Market

With so many choices out there, a strong EVP helps you stand out from the crowd. It's like a people-magnet, pulling in candidates who really click with your values and vision. Plus, it helps keep your current stars happy and feel valued. 

Research shows companies with solid EVPs can actually pay less (up to 50% less premium) while getting more committed new hires (up to 29% more committed).

An EVP goes beyond just hiring - it’s about building real relationships with your team, and creating a place where people can thrive, and help your company succeed.

Gaining Competitive Advantage Through EVP

A well-crafted EVP makes you different from your competitors and boosts your reputation as a great place to work. When talent is hard to find, being known for your awesome employee experience can be the tiebreaker for someone choosing between you and another company.

A strong EVP builds loyalty and trust, which leads to more engaged and productive employees. When your team feels valued and connected to your mission, they often become your biggest fans, spreading the word about how great your company is.

How a Great EVP Helps You Attract Amazing People

Making Your EVP Match What Candidates Want

To attract the best people, your EVP needs to align with what they're looking for. This means really understanding their needs, dreams, and values. Crafting something that speaks directly to them and makes your company feel like their perfect workplace.

For customer service and sales pros, this might include highlighting things like skill-building opportunities, clear paths to promotion, and programs that recognize people who wow customers.

Weaving Your EVP Into Your Brand

Your EVP should feel like a natural extension of your brand. It should reflect your company's culture, values, and mission. When candidates see consistency between your brand and EVP, they trust you more. 

Make sure you communicate your EVP the same way everywhere – on your website, in job postings, and during interviews.

Retaining Your Stars with a Strong EVP

Boosting Employee Engagement and Loyalty

When people feel valued and connected to your EVP, they become more engaged and loyal. They see their work as meaningful and feel like they belong. This boosts morale, increases productivity, and reduces turnover.

For sales and customer service teams, an EVP that includes regular recognition, supportive leaders, and chances to move up can really help keep people around longer.

How EVPs Help Reduce Employee Turnover

High turnover is expensive and disruptive, hurting morale and productivity. A compelling EVP addresses the key things that make people stay by aligning what you offer with what employees want and need.

When people feel their contributions are valued and fairly rewarded, they stick around longer. A well-crafted EVP that includes chances for career growth and skill development motivates employees to grow with the company. 

This cuts turnover while building a more experienced and capable team.

Creating a Supportive Workplace with Your EVP

An effective EVP can help create this kind of environment by promoting respect, inclusivity, and teamwork. By clearly sharing your organization's values and expectations, an EVP sets the tone for a positive workplace culture.

An EVP that emphasizes work-life balance, flexible arrangements, and employee wellbeing can greatly enhance the overall employee experience. When people feel supported in both their work and personal lives, they tend to be more engaged and committed.

Steps to Create a Compelling EVP

Listening to Employees and Watching Market Trends

The first step in developing an effective EVP is gathering feedback from your current team. Try surveys, interviews, and focus groups. By understanding what your employees value most about working for you, you can tailor your EVP to highlight those things.

For customer service and sales teams, this might be the importance of supportive managers, clear paths to advancement, or recognition programs that celebrate customer satisfaction wins.

Also stay on top of market trends and industry benchmarks to identify areas where your EVP can improve and ensure your offerings stay competitive.

Finding Your Organization's Unique Strengths

Every organization has its own strengths and unique selling points. These should be the heart of your EVP. Whether it's a commitment to sustainability, a fun company culture, or innovative products, highlighting these strengths sets you apart.

Think about what makes your organization a great place to work and use these elements to craft a compelling story that connects with both current and potential employees. Remember, being authentic is key. Your EVP should accurately reflect what it's really like to work for you.

Putting Your EVP Into Action

Once you've developed your EVP, the next step is implementing it across your organization. This means integrating it into your recruitment, onboarding, and retention strategies. Make sure everyone, from leadership to frontline staff, understands and adopts the EVP.

Use various channels to share your EVP with both internal and external audiences. This includes your company website, social media, job postings, and employee handbooks. Consistent messaging will reinforce your EVP and strengthen your employer brand.

Join TTEC: Where Your Career Thrives

• Shared Purpose: We're all in this together - united by a mission to make a difference while supporting each other, our communities, and the planet. This is more than a job - it's meaningful work.
• Personal Growth: Want to climb the career ladder, pick up new skills, or pursue big dreams? Our 10,000+ courses help you grow in ways that matter to you personally.
• Deeper Connections: From leaders who inspire to teammates who have your back, you'll build authentic relationships with great people who make coming to work enjoyable.
• Well-being: We want you to thrive in all aspects of life with competitive benefits, meaningful recognition, and wellness programs that support your physical and mental health.
• Agile Flexibility: We understand life is unpredictable, so we offer scheduling options that help you balance work with everything else that matters.
• Engaging Environment: From your first day, you'll have all the tools, training, and support needed to hit the ground running and keep succeeding.
• Your Voice: Your thoughts matter here. Through one-on-one check-ins and feedback sessions, your input helps shape TTEC's future and your own career path.

Ready to join our global team of 55,000+ professionals across 21 countries? 

Check out exciting opportunities at TTEC Jobs and take your next career step with a company that invests in your success!

Frequently Asked Questions (FAQ)

What exactly is an Employee Value Proposition (EVP)?

An EVP is the complete package you offer employees in exchange for their talents and hard work – it includes the obvious stuff like salary and benefits, plus the less tangible things like company culture, growth opportunities, and work-life balance that make your company stand out from competitors.

How does a strong EVP give companies a competitive advantage?

A strong EVP helps you stand out in a crowded job market, attracts candidates who align with your values, boosts your reputation as a great employer, and turns your employees into brand advocates who spread the word about how great your company is.

What steps should companies take to create an effective EVP?

Start by gathering feedback from your current employees through surveys and focus groups, identify your organization's unique strengths, develop messaging that authentically reflects your workplace, and then consistently implement it across all recruitment, onboarding, and retention strategies.

How does an EVP help reduce employee turnover?

A compelling EVP reduces turnover by ensuring employees feel their contributions are valued and fairly rewarded, offering clear paths for career growth and skill development, and creating a supportive workplace where people feel connected to the company's mission and valued as individuals.

What makes TTEC's EVPs stand out from other companies?

TTEC's EVP stands out with seven core elements – shared purpose, personal growth through 10,000+ courses, deeper connections with inspiring colleagues, comprehensive well-being programs, agile flexibility, an engaging environment with proper tools and training, and a commitment to making your voice heard – that contribute to an extraordinary employee experience.