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Why EVP is the most potent weapon in the battle for talent

Alex Hattingh, Chief People Officer - Employment Hero

One thing is certain as we head into 2022 – the war for great talent is going to become hotter than ever. There is, however, plenty that you can do to win over great candidates.

Using insights from our Employee Movement and Retention Report to understand what it is that workers are really looking for in a role, it’s not all about offering huge salaries – there are plenty of non-monetary things that you can do to entice new talent.

What will talent movement look like in 2022?
According to our Employee Movement and Retention Report, many employees are looking to make their move – 55 percent of workers are planning on looking for a new role within or outside their organisation in the next year. What’s even more concerning, 43 percent of these are looking to move in the next six months, and 21 percent are looking right now.

Of those who are not currently looking to move roles, 66 percent said it is because they are happy where they are. 18 percent, however, said that it was because they believe it

is risky to try and change jobs right now due to uncertainty from the pandemic.

Which groups are most likely to be pursuing new opportunities?

People under 45
It seems our 25-34-year-olds who are most fed up, 77 percent have signalled that they are looking to change roles within the year. Close behind are Gen Z, 74 percent of 18-24-year-olds are also looking to switch roles over the next 12 months, and 50 percent of them have spoken to a recruiter in the last six months.

Even the older cohort is not immune. 65 percent of 35-44-year-olds are looking to make a similar move, with 39 percent of the age group speaking to a recruiter in the last six months.

Gen Z
According to our Gen Z at Work Report, this generation’s priorities are work/life balance, positive culture, and convenience. They also have set expectations about flexibility, money, and support, which can lead to misalignment with employers.

Employees in Greater London are 12 percent more likely to be looking for a new role within the year, with 62 percent of London respondents signalling this. As London is such a diverse city, it’s hard to say what the best way is to communicate with its working market, but there is plenty of evidence to suggest that many do not want home working to come to an end. If they’re asked to return to the office full-time, they may be looking for pay rises or other monetary rewards to cover a return to commuting.

The importance of an Employee Value Proposition
Is your company culture aligned with these three common themes to attract great talent? How do you express these within your business every day? Would your employees tell their networks that you offer these perks?

What you offer and how you offer it will make up your Employee Value Proposition (EVP); your unique value statement that makes your business a great place to work. It’s hard to do any kind of refresh on your EVP unless you have a great understanding of how your business and benefits are perceived.

Boosting your EVP
Done well, a successful EVP will provide answers to the question – Why work with us? Your EVP needs to be clearly defined. Start by mapping out your EVP on paper and be sure to tie in nicely with your company’s mission, vision, and brand image. It’s important to continuously rework, redefine and articulate your EVP to new and existing employees.

When it comes to recruiting
All your hard work creating a stellar EVP and using awesome employer branding could go to waste if you don’t have an efficient recruitment funnel. As we’re in a hot job market right now, your candidates could easily receive another offer if you leave them waiting too long.

How can we reduce the amount of admin and stress of recruitment? Use an Applicant Tracking System (ATS). Think of it as one central piece of software that allows you to hire and recruit the best talent for your open roles. An ATS can filter through applicants, ranking candidates on how appropriate they would be for the role.

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