How can you design an attractive EVP?

Employers thinking of improving their Employee Value Proposition (EVP) can begin by looking at their staff as an investment, according to a new whitepaper.

EVP is the "total of all rewards and benefits that employees receive from their employer, including what makes them feel good about working for you."

"Because each organisation is as unique as its employees, EVPs are not 'one size fits all,'" StrategicPay's paper read.

To improve them, the paper outlined various measures that employers could do, including thinking of employees as an investment.

"A really attractive EVP begins with treating staff as people, not just employees," the paper read.

"If your remuneration is not based at the right level to begin with, then you will have trouble attracting people or keeping committed employees."

Employers should also invest in targeted rewards, according to StrategicPay, and consider what employees really need from their working life.

"Targeting an attractive EVP to your employees' needs will keep your people engaged," the paper added.

Communicating EVP

It further stressed the importance of two-way communication in determining employees' needs, and on letting them know what's being offered to them.

"Mention every-thing that your organisation provides because some background or hidden benefits may not occur to people," the paper read.

Employers should also invest on development, equity and fairness, as well as culture and wellbeing.

"To be competitive in this marketplace your Total Employee Value Proposition must be attractive, targeted, and regularly communicated," the paper said.

Find out more about improving EVPs in this paper from StrategicPay. Grab your free copy here.