What is an employee value proposition (EVP)?

An employee value proposition (EVP) is the unique set of benefits and rewards that an organisation offers to its employees in exchange for their contribution at work. It encompasses a broad range of elements including pay and benefits, career development opportunities, work-life balance initiatives, company culture, recognition programmes, and other perks or incentives.

A strong EVP is crucial for attracting top talent to an organisation and can help an organisation stand out against its competitors. An effective EVP plays an equally vital role in retaining, engaging and motivating existing employees, which in turn can drive higher productivity and profit, and lower turnover and absence.

An EVP should align with an organisation's core values and mission, and reflect what makes it unique and attractive as an employer. This means that as an organisation evolves over time, its EVP will need to be adapted to ensure it remains relevant and competitive in attracting and retaining talent.