Are you struggling to find good candidates? Are you finding good candidates but before you can offer, they’ve been snapped up by another company? Or perhaps they accept only for them to be counter offered by their existing employer…

These are real issues lots of businesses are facing at the moment, for a number of reasons:

• We are living in uncertain times financially, so security is a priority for employees.
• The recruitment market is the most competitive we have seen in years, so companies are moving quicker and quicker to make offers.
• Opportunities that don’t offer full flexibility are now a deal breaker for more than 60% of the working population.

In today’s competitive job market, organisations are constantly looking for ways to attract, retain, and motivate their employees. Employee value proposition (EVP) and first impressions play a crucial role in achieving these goals and have a significant impact on the overall performance of the company.

What is an Employee Value Proposition (EVP)?

Employee value proposition (EVP) is the set of benefits an organisation offers to its employees in exchange for their skills, abilities, and time. It helps to attract and retain top talent, while also motivating employees to perform at their best. A strong EVP communicates to potential hires the unique benefits and experiences they can expect to receive from the company, setting clear expectations and aligning the employees’ values and goals with those of the organisation.

A strong EVP consists of pay, culture, purpose, reward & recognition mechanisms, perks, and values. We need to create a feeling of ‘look at what I’d be losing’ if they chose to accept another offer or stay in their current position. As a general rule, when we recruit, we advertise the role and the salary, but times have changed, and pay is no longer the biggest factor influencing candidate decisions.

According to Gartner, 65% of candidates report they have actually discontinued a hiring process due to an unattractive EVP. Furthermore, a study of 19,700 post-exit interviews revealed that 89% of employers think their people leave for more money, but only 12% of employees actually move on because of salary.

So why do we continue to advertise in the way we have always done?

The Importance of First Impressions

First impressions are critical as they establish the foundation for future relationships. In the context of recruitment, a strong first impression can make a candidate more likely to accept a job offer, while a poor one may discourage them from taking the position. For current employees, a positive first impression can lead to higher job satisfaction and engagement, while a negative one may result in disengagement and decreased job satisfaction.

When it comes to recruitment, hiring managers often have the ability to engage candidates once they are face-to-face with them in an interview setting. However, the first impression may have been 1-2 weeks prior to this.  Companies that have an edge here are able to engage candidates from the first contact – this might be their website, part of the process, the job spec, Glassdoor, it could be any number of places – the salient point here is that first impressions really matter.

In previous years, candidates might have been in the running for a couple of interview processes at any one time. Today, they’re in at least three or four and let’s be honest, you want to be the front-runner!

A study conducted by LinkedIn found that 80% of talent acquisition managers believe that employer branding and first impressions have a significant impact on their ability to hire great talent. In addition, 70% of employees reported that their first impression of a company influenced their decision to accept a job offer.

The Bottom Line

Employee value proposition and first impressions play a crucial role in attracting, retaining, and motivating employees. A strong EVP and positive first impression can lead to higher job satisfaction, engagement, and ultimately improved performance. Organisations that invest in developing and communicating a clear EVP and creating a positive first impression will find themselves in a better position to attract and retain top talent in today’s competitive job market.

At MyPeople we can help you craft an EVP that is fit for purpose and reflective of your business, as well as improve your recruitment strategy to attract top talent and engage candidates from day one.

The significant advantage of using an external company like us to fulfil your consultancy needs, is that employees often trust third-party endorsements more than those from in-house teams.  We are experts in our field, and we take the time to get to know your organisation and objectives, which enables us to tailor solutions specific to your needs and deliver a positive and honest impression of your business.

If this is something you’d like to hear more about, please contact us today for a confidential chat about how we can help you move forward and start building great teams!