An employee value proposition (EVP) is the set of attributes that employees see as the “value” they gain through employment with a company.
And it’s important to them – companies need to pay job candidates an average of an 11% premium in compensation to entice them to a new job if they feel the EVP is attractive but 21% increase in compensation to candidates who think the EVP is unattractive, according to CEB data.
A good EVP doesn’t just keep costs down, it also improves a company’s ability to attract high-quality candidates, and means employees are more committed to their jobs and more likely to stay with the company.
