Aligning Data and User Needs to Build Your Employee Value Proposition

Employers, buckle up: the Great Resignation shows no signs of slowing down – and businesses that don’t deliver on their employee value proposition will bleed talent.  

That’s the conclusion of an ambitious survey conducted by Randstad NV, a global provider of employment services. According to the survey, the impact of the Covid-19 pandemic continues to be felt throughout the workplace, as employees reassess how their jobs connect to goals such as personal happiness. In particular, more than half of employees (56%) age 18 to 24, a demographic classified as Gen Z, say they would quit a job that prevented them from enjoying their lives, a new survey suggests. Forty percent of this demographic said they would “rather be unemployed than unhappy working in a job they didn’t like,” according to the 2022 Randstad Workmonitor report.  

According to van ‘t Noordende, CEO of Randstad, “That is sort of a change today: Employees are more prepared to attach consequences to their unhappiness or not getting what they want. They’re prepared to quit their job if they’re not happy. Employers really have to raise their game in terms of personalizing the work experience for every individual employee.”   

This is a challenge for employers to develop a compelling employee value proposition that they actually deliver on. If a company attracts an employee with the promise of a rewarding experience that meets their needs – but then fails to deliver on that promise—employees will leave. But employers are still figuring out how to adapt their recruitment and retention strategies to be more personalized to the wants and needs of employees. 

How to Create an Employee Value Proposition 

The survey is based on responses from 35,000 employees across 34 markets, including India, and the Dutch company said it is one of the largest studies of its kind in the world. Five key themes emerged from the survey – each of which should help a company develop a credible employee value proposition:  

• Fitting work around people’s lives. A fulfilling work experience is a priority to Gen Z (18–24 year-olds) and Millennials (25–34 year olds) around the world. 56% of Gen Z said they would quit a job if it was preventing them from enjoying life. The pandemic has caused this generation to realize that although they take their jobs seriously, happiness is key to success in life and at work, and they are ready to let employers know how they feel. 

• Aligning values. 43% said they would not join an employer whose social and environmental values didn’t align with theirs. 41% expressed the same sentiments if that employer didn’t make efforts to promote a diverse and inclusive workplace. 34% wouldn’t mind earning less money if the job was contributing something to society (this figure was 42% for Gen Z). Growing attention to corporate environmental, social, and governance (ESG) issues has led organizations to use these values to attract and retain loyal employees, especially younger ones who in higher proportions say they prefer employers who support the same causes as themselves. 

• Empowerment. Over the past 12 months, just 22% of respondents say they have received enhanced benefits such as paid time off, more generous healthcare provisions and better retirement plans. At the same time, almost one-third have received wage increases or training and development. With competition for skills intensifying, employers will need to reassess whether they are offering enough monetary and non-financial incentives to attract and retain great talent. 

• Job flexibility. Nearly three-quarters of those surveyed believe flexibility of work location is important, and an even higher majority (83%) want work hours that complement their lives. But only some employers are delivering on this demand, with slightly more than one-quarter of employees stating employers are offering more flexibility in both areas. This is a clear indication that expectations among the world’s workforce have reset since the onset of the pandemic. 

• Self-improvement. Rapid digital transformation highlighted the risk of skills obsolescence. 88% say they would engage in learning and development programs if given the opportunity. Respondents want coaching on how to earn more money (cited by 60%), achieving a better work life balance (50%) and how to advance in their career (40%). Nearly half (48%) would like to develop their soft skills, with the youngest generation more likely to do so. Employers who want to stay ahead of the curve will need to focus on skilling and coaching to meet the needs of their workforce. 

The report observed, “As we recover from the pandemic, one thing is clear in the world of work: the dynamic between talent and employers has shifted. A heightened sense of purpose now guides people’s career choices and the work that they do. Welcome to a new era of self-determination.” 

And here is an important caveat: if the employee value proposition does not match the experience, employees will leave.  

Our Take on Developing an Employee Value Proposition 

The findings of the report underscore the need for employers to think more strategically about their recruitment and retention strategies. There is no easy, one-size-fits-all approach that will win hearts and minds. Clearly, offering better compensation and benefits alone will not succeed as a recruitment and retention strategy during the Great Resignation. But a credible employee value proposition matched by the actual experience will. We suggest: 

• Employers treat recruitment and retention as a personalized campaign. The job candidate’s journey is a digital one. Candidates research jobs just like they shop, invest, and socialize – by searching online. The number of adults who search for jobs online began to outnumber the adults who do not use digital back in 2015, and in a post-pandemic era, digital is the norm for living and working. This digital-first behavior makes it possible for employers to apply the same performance marketing techniques they use to win clients: creating applicant personas, investing in online advertising personalized to each persona, creating organic content, and nurturing the best applicants to fill your open positions. Doing all this means coordinating a campaign that connects all the touchpoints in the job seeker’s journey, ranging from search to email.  

• Build a strong foundation for a personalized recruitment and retention campaign. To be effective, recruitment and retention marketing must be authentic. This means aligning your actions with your message. For instance, we recently blogged about how important it is for a company to prepare itself for diversity recruitment by aligning its actions with its goals.  

• Understand your employer brand. Most companies think of their brands in context of strengthening consumer relationships. But employers also need to think of their brands in context of attracting and keeping employees. For instance, at a time when employees want to align their jobs with their values, how effectively do you discuss your values on your website, socials, etc.? At a time when employees increasingly want their employers to take a stand on social issues, how well has your brand responded with action? How clearly do you share your story about diversity, equity, and inclusion – backed by transparent data? How well are you amplifying your brand with tactics such as search engine optimization, and paid media? 

• Go all-in. A recruitment campaign should be a companywide effort. This means, among other things, treating all employees as brand ambassadors and empowering them to talk about your company. It means making sure all teams involved in managing your brand – ranging from Investor Relations to Public Relations – are embedding your messaging in everything they do. The Great Resignation affects all aspects of the business.  

These are just a few suggestions; at Investis Digital, we typically work with businesses to customize a marketing/recruitment strategy that addresses their unique needs. 

The Payoff of an Effective Employee Value Proposition 

Creating a credible employee value proposition delivers tangible benefits. According to Gartner, organizations that invest in developing and delivering a strong employee value proposition can attract significant talent and boost employee engagement. Per Gartner, “...your organization can reduce the compensation premium by 50% and reach 50% deeper into the labor market when candidates view an EVP as attractive. Organizations that effectively deliver on their EVP can decrease annual employee turnover by just under 70% and increase new hire commitment by nearly 30%.” 

Contact Investis Digital 

Investis Digital applies proven account-based marketing to create “ready now” talent pipelines. Doing so results in relationships job seekers demand, faster hiring times, and lower cost per hire while decreasing churn. Our talent acquisition and retention team has delivered measurable results for brands such as Rolls-Royce and Ocado. Contact us to learn how we can help you.