Here's the best way to bring brilliant—and loyal—employees to your company, according to a recent report.
Every company wants to learn the secret to attracting and retaining top talent. And a recent Gallup poll might just have the answer: an effective employee value proposition program.
An EVP, according to Gallup, is something that “articulates the balance of the rewards and benefits that employees collect in return for what they contribute to a workplace.” One such example Gallup highlights is Apple offering to pay for education programs for its employees. Not only do those programs attract talent—it attracts the kind of self-motivated and education-seeking employee that the company wants in the first place.
An EVP isn’t the only way to gain and retain the best employees. Get ahead of the talent game with NFIB’s free e-book on creative benefits.
There’s a strong case to make such an effort, too. Hiring the top 20 percent of the most talented candidates can also increase a company’s sales by 20 percent and profitability by 30 percent, according to the report. These companies see a 10 percent decrease in turnover and a 25 percent decrease in unscheduled absences as well.
Gallup’s results also highlight the benefit of engaging employees in all positions. The “most highly engaged business units” have 10 percent better consumer ratings and 48 percent less safety incidents.
Here are the three most important steps to create a strong EVP program that will engage both potential and current employees, as outlined by Gallup.
1. Understand your best performers.
To create an effective EVP program, you first must understand how your field’s top talent thinks. Take Apple, which knows that their best employees want to discover new ideas and grow as individuals. By adding “free” education to employee perks, the tech giant engaged with the talent they were seeking.
2. Make sure your message to candidates reflects company culture.
If the top talent doesn’t fit into your office’s culture, they—nor your company—will reach full potential. By giving prospective employees insights into your brand’s identity, you can ensure that employees will respect and embody the values of your company.
3. Make sure your message helps you stand out.
To differentiate your company from your competitors, highlight the unique aspects of your company through your EVP program.
