The war for talent is showing no signs of slowing down — job openings continue to exceed the number of job seekers on the market. For businesses, this ultra-competitive talent landscape reinforces the need to double down on initiatives that help you attract and retain top workers. But in a sea of companies touting laundry lists of benefits, what can you do to stand out against your competitors?  

The answer starts with a strong, credible employer value proposition (EVP). A compelling EVP can make the difference between a candidate saying yes to a job offer (or even applying in the first place) or an employee choosing to stay.

Let’s take a closer look at what makes a good EVP and how to enhance yours to stand out in today’s labor market.

An employer value proposition is the first flag of your company’s employer brand. It typically appears as a carefully crafted written statement, but it can also refer simply to a set of benefits or a promise you’re making. Whatever the format, it communicates to potential and current employees what benefits and cultural values they can expect from joining your organization.

While your EVP can definitely be used to aid your recruitment marketing efforts, it’s not solely a marketing tool. It’s a truth, a promise and a cultural value that potential and current employees can depend on. When the reality of a workplace does not live up to its promised EVP, employees can grow disillusioned and disengaged. 

To be really effective, companies need to deliver on their promise. When your promise matches the practice, you can build real trust — and engagement — with your workforce. In doing so, you also instill confidence in your employer brand, which builds goodwill with both potential employees and the community at large. 

Even if you don’t formally have an EVP documented, you still have one. The question is, is it where it needs to be for optimal recruiting and retention? 

Your EVP is something that’s worth revisiting regularly. Take time to see if it’s providing benefits your employees value, if you’re delivering as promised and if the EVP is keeping pace with your current business needs. 

Let’s break down some common components of an EVP:

Take a look at these and see if there are opportunities to enhance your EVP — do you have any new programs or benefits that you don’t currently have highlighted? Or would any of these be beneficial to add? 

Whatever you include, make sure it’s a transparent and truthful reflection of the values and benefits your company offers.

Here are a few real-world examples of EVPs from industry-leading organizations: 

In the aftermath of the COVID-19 pandemic, it has become increasingly clear that employee expectations are changing. The modern employee is looking for far more than a paycheck — they want to work for an employer that aligns with their values and invests in their well-being and professional development.

Don’t think of your EVP as a static entity – it should evolve along with the expectations of the workforce to keep you in the top ranks of desirable companies to work for.  What makes an organization a great place to work now looks very different than it did 10 years ago, and your company should be proud if it’s reflecting this change in the values it upholds. 

Here are a few ways you can adapt your proposition for tomorrow’s workforce:  

Remaining competitive as an organization in a job-seeker’s market is a matter of aligning company goals and values to the demands of the modern worker. Your people are your greatest investment, and doing so is worth doing from the very beginning — starting with a strong EVP. Taking the time to optimize your EVP pays dividends many times over in recruitment, engagement, retention, productivity and profitability. 

Ready to build a stronger employee value proposition today? Start with DEI. Download our guide to learn how you can leverage workforce education to support your organization’s diversity, equity and inclusion efforts.