Beyond Salary: What Really Matters About Your EVP - with Emma Wharton Love

Interaction's Thrivalism

In "Beyond Salary" Toby Brown hosts Emma Wharton Love, co-founder of We Are the Loves, an employer branding agency. They delve into the concept of Employee Value Proposition (EVP), emphasizing that it goes beyond salary and encompasses compensation, benefits, culture, development opportunities, and more.
Key takeaways include:

1. Understanding EVP: EVP is like an organization's CV, representing what it offers employees in exchange for their skills. It covers a wide range of factors, including culture, recognition, social responsibility, and work environment.
2. Ownership of EVP: While HR often manages EVP, it should involve input and feedback from all employees to be truly effective.
3. Developing a Bottom-Up EVP: This involves understanding organizational values, gathering feedback through surveys and interviews, and considering external market perceptions to attract talent that aligns with the company's values.
4. Balancing Internal and External Branding: It's crucial to ensure alignment between the employer brand and the external brand to maintain authenticity and avoid disappointment among new hires.
5. EVP and Generational Shift: Younger generations like Gen Z and millennials are driving a shift towards valuing flexibility and social impact in addition to salary.
6. Benefits of a Strong EVP: A robust EVP engages employees, boosts retention, and attracts talent aligned with the company's culture and values.
7. Monitoring and Adapting EVP: Set measurable metrics, such as staff surveys and recruitment costs, and collect annual feedback to keep the EVP relevant.
8. Common Mistakes and Emerging Trends: Avoid focusing solely on compensation, personalize the EVP, and embrace trends like transparency in pay and progression.
9. Impact on Workplace Culture: A well-developed EVP can help but won't solve deep-seated cultural issues within a company.
10. Examples of Effective EVP: Bumble are highlighted for aligning their EVP with their brand positioning.
11. Building an Employer Brand: The podcast discusses a project with Q5, a management consultancy, to create recruitment marketing materials based on their EVP.
12. Hopeful Trends: The focus on employee development and skills expansion is seen as optimistic and vital in the evolving job market.

To learn more about employer branding and EVP, you can visit We Are the Loves website or find them on LinkedIn.
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