Definition
The unique set of benefits, rewards, and opportunities that an employer offers in exchange for an employee's skills, capabilities, and contribution. The EVP encompasses compensation, benefits, career development, work environment, and organisational culture.
UK Context
In the UK's competitive labour market, a strong EVP is essential for attracting and retaining talent. The CIPD identifies the EVP as a central element of resourcing strategy. UK-specific EVP elements often include flexible working (a right to request under the Employment Relations (Flexible Working) Act 2023), generous pension contributions, and health and wellbeing benefits.
Best Practices
- Research what current employees value most through surveys and exit interviews to inform the EVP
- Ensure the EVP is authentic and reflects the genuine employee experience
- Tailor EVP communications to different candidate segments while maintaining consistency
Frequently Asked Questions
What is included in an EVP?
An EVP typically encompasses five pillars: compensation (salary, bonuses), benefits (pension, healthcare, leave), career development (training, progression, mentoring), work environment (flexibility, culture, facilities), and organisational purpose (values, mission, social impact).
How does an EVP differ from an employer brand?
The EVP is the substance of what the organisation offers employees. The employer brand is how that offer is perceived and communicated externally. The EVP informs the employer brand; if the EVP is weak, no amount of branding can sustain a positive employer reputation.