A 2021 Microsoft study found that 41% of the global workforce is likely to consider leaving their current employer within the next year. Avoid being part of that statistic by building a solid Employee Value Proposition.
The competition for high calibre technical leaders is the highest it’s ever been. Remote working diffusing geographical work boundaries means people have access to an infinitely greater pool of businesses to choose from. By extension, there are now an infinite number of businesses for you to compete with.
But other businesses aren’t the only thing you’ll be competing against. Now that the ball is effectively in the candidate’s court, they’re more inclined to pursue other options. Therefore, you’re also competing with:
An EVP typically consists of these 5 core pillars:
With the perceived talent shortage and the Great Resignation, many think attracting and retaining this talent is a hard riddle to solve. Being realistic with what candidates now want in the post-pandemic era and incorporating it into your Employee Value Proposition (EVP) is a sure way to grab their attention.
Offer genuine work flexibility
The Office for National Statistics reported that almost 70% of managers, directors and senior officials worked remotely in 2020. Of course that was in the height of the pandemic, but for many it’s stayed that way – at the very least they want it as an option.
Especially in the tech industry where the strive for true agility has been a frontrunning endeavour for god knows how long, workers want that same agility reflected in their work lifestyle.
From an employee perspective, the freedom and time they gain by working from home is priceless. No timely commutes means more time with family and friends. It also provides more flexibility for day-to-day activities.
There’s even evidence to show that remote working increases performance. A study by Stanford of over 16,000 workers found that working from home increased productivity by 13%. In the same study workers also reported improved job satisfaction, and resignation rates decreased by 50%.
If you’re worried about the Great Resignation, then offering genuine work flexibility is something you should be considering.
For some businesses it’s just impossible to implement remote working 100% of the time. A few other options include:
• Offering employees the option to work remotely a few days a week (2 days in, 3 days out works great for us!)
• Allowing employees to choose what days they’d rather be in the office. Put it to a vote so people are in the office at the same time
• Letting employees choose their work hours. Missing rush hour traffic or being able to take their child to school will make a big difference
Attracting talent is one half of the puzzle, giving them reason to stay is the other. Having clearly defined career progression routes laid out for employees is vital not only for attracting talent, but for retaining it too.
A 2021 Microsoft study found that 41% of the global workforce is likely to consider leaving their current employer within the next year. A lack of career progression is often cited as the main reason for people leaving, so having bespoke, clear progression routes tailored to each employee’s needs is a great way to improve retention rates.
This one doesn’t require much brain power to figure out. If you pay salaries above the market’s asking price you’re going to attract more people. Simple.
In tech start-ups there is genuine opportunity to have a stake in a business and make a difference, money isn’t always the prime motivator. But it sure does go a long way. Time and time again we see candidates rejecting a company before they’ve even had a chance to sit down with founders because the salary isn’t attractive enough.
Offering higher salaries with a clear plan of incremented increases based on performance and tenure goes a long way to stopping your employees getting lured away by the competition.
Beyond work mission
Value isn’t solely derived from the work employees produce, it also comes from a business’ awareness and support of the bigger picture. This may include supporting social movements like Black Lives Matter or events such as Pride Month – needless to say supporting these can’t just be a token gesture, you’ve got to be a true advocate all year round.
Demonstrating your business’ stance on these social matters by incorporating these incredibly important matters into your Employee Value Proposition is invaluable for a talent strategy. Attracting a wider, more diverse range of candidates is essential for the provision of equal opportunity across all protected characteristics (sex, race, sexual orientation, and so on). And just as importantly, we build better technology for the benefit of more people when diversity and inclusion are at incorporated into the build stage.
Working exclusively with a premium talent sourcing agency, rather than with traditional recruiters on Preferred Supplier Lists, lets us provide you with accurate, measurable Diversity & Inclusion reporting. You can be sure you’re always providing equal opportunities for all.
Another aspect of the beyond work mission is supporting communities and charities close to your employees’ hearts, or offering opportunities for employees to support them during work hours. This could include:
• Paid volunteer days
• Charitable donations or donation matching
• Hosting or participating in sponsored events
One of the ways Amsource gives back to our local community is by supporting Leeds Community Foundation. They distribute vital grants and offer trusted advice to community organisations across Leeds and Bradford.
We also love supporting our employees’ charity fundraisers, have a look at what we got up to in 2021.
Priceless: Upgrade your Employee Value Proposition
With the talent competition going through the roof, it’s a tough hiring world out there. We have unique insights into tech start-up/scale-ups and the challenges your competition are facing. Building bespoke strategies to attract top calibre talent and giving our clients an unfair competitive growth advantage is what we've done for the last 10+ years.
Take a deeper look at how our talent solutions grow businesses.