Research reveals that myths of Employee Value Propositions are damaging authentic employer brands
The candidate experience is being hindered by a lack of authenticity that’s largely driven by Employee Value Proposition (EVP) myths, according to a recent analysis carried out by Alexander Mann Solutions.
In its whitepaper, ‘Decoding your value proposition to deliver a meaningful employer brand’, the leading global talent acquisition and management firm revealed a number of myths surrounding the development and use of EVPs that could potentially see companies needlessly investing in expensive, yet irrelevant, employer branding.
According to the report, a belief that an EVP can be ‘created’ rather than nurtured, starting with a job advert and ending after a hire is made, is causing many companies to invest in the development of aspirational employer brand propositions that aren’t reflective of the true company culture. This has the potential to increase employee turnover and damage staff motivation.
Sondra Dryer Global Head of Employer Brand & Experience at Alexander Mann Solutions explains: “The business benefits of a strong employer brand simply can’t be refuted. According to LinkedIn, companies with stronger employer brands see a 43% decrease in the cost per hire, and in CEB’s study, “Branding for Influence,” it was cited that a strong employer brand can raise your quality of hire by 9% and improve applicant pool quality by 54%. While it’s certainly a step in the right direction to see more employers investing in the development of a strategic EVP, the challenge is that too many have shifted away from an authentic experience in the quest for their own version of perfection.”
“The myth that EVPs are ‘created’ is further exacerbating this issue. The truth is they already live and breathe within an organisation and just need to be defined and brought to life through authentic storytelling. Uncovering your EVP and developing your employer brand doesn’t need to be a costly and time-consuming process. In most cases, the basics are already there –your employees’ experiences and corporate brand and culture just need to be brought to life in a way that can engage your target audiences.”