Employer branding vs. EVP: What's the difference and why does it matter?

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This week, we're talking all about Employer Branding (EB) and Employer Value Proposition (EVP). These two concepts are often confused or used interchangeably, but understanding their differences and how they work together is important for attracting, retaining, and engaging top talent.

In this newsletter, we will explore:

🖼️ Image of the week - What's the difference between Employer Branding and EVP?

💪 Why you need to focus on both EB and EVP

🥚 Which comes first: the EB or the EVP?

🧰 What are the main ingredients for a winning EVP?

📚 This week's must-read blogs

While Employer Branding (EB) and Employer Value Proposition (EVP) are closely related, they serve distinct purposes in your talent acquisition and retention strategy.

Employer Value Proposition (EVP) is the unique set of benefits and experiences an employee receives in return for their skills, capabilities, and experience they bring to a company. It's the "deal" between the employer and employee. Think of it as the ingredients that make your company irresistible to job seekers and the secret sauce that makes your employees stay.

Employer Branding (EB) is the way you communicate and market your Employee Value Proposition (EVP) to the outside world, shaping your company's reputation and image as an employer. EB involves creating an authentic yet compelling narrative that showcases the true experience of working at your company. This is why many organisations use platforms like Flexa to present their EVP.

In essence, if EVP is the substance, Employer Brand is the style. If EVP is what you offer, EB is how you shout about it.

💪 Why you need to focus on both EB and EVP

Focusing on both your EVP and EB is crucial for several reasons:

1. Attraction and retention: a strong EVP helps you attract the right talent, while a well-crafted EB ensures that your EVP reaches and resonates with your target audience.

2. Consistency: aligning your EVP with your EB ensures that the promises you make to potential employees (through your EB) match the actual experience of working at your company (your EVP).

3. Differentiation: in a competitive job market, a unique EVP communicated through a compelling EB can set you apart from other employers.

4. Employee engagement: when employees experience the EVP that was promised through your EB, it leads to higher satisfaction and engagement.

5. Cost-effective recruitment: companies with strong employer brands see a 43% decrease in cost per hire.

🥚Which comes first: the EB or the EVP?

While it might seem like a "chicken or egg" situation, typically, the EVP should come first. Here's why:

1. Foundation: your EVP forms the foundation of your Employer Brand. It's difficult to effectively brand something you haven't clearly defined.

2. Authenticity: starting with your EVP ensures that your Employer Brand is built on the real experiences and benefits you offer, leading to more authentic messaging.

3. Strategic approach: developing your EVP first allows you to take a strategic approach to your Employer Brand, ensuring all communication aligns with your core offerings.

4. Measurability: having a clear EVP makes it easier to measure the success of your Employer Branding efforts.

Remember, while EVP typically comes first, the development of both should be an ongoing, iterative process that evolves with your company and the needs of your employees.

🧰 What's included in an EVP?

Deciding what makes a great EVP will be unique to your company. However, we believe there are some key ingredients that should feature. 

1. Compensation and benefits: this includes salary, bonuses, health insurance, retirement plans, and other financial perks.

2. Work environment: this covers aspects like flexible working options, office amenities, and company culture.

3. Work-life balance: policies that support employees' lives outside of work, such as parental leave, sabbaticals, or wellness programs.

4. Career development: opportunities for learning, training, mentorship, and career advancement.

5. Company culture and values: the overall work atmosphere, company mission, and values that guide the organisation.

6. Job security and stability: the company's financial health and long-term prospects.

7. Recognition and rewards: how the company acknowledges and appreciates employee contributions.

Remember, your EVP should be unique to your company and reflect what truly sets you apart as an employer.

📚 This week's must-read blogs

EVP vs Employer Branding: what's the difference?

What is an Employee Value Proposition (EVP) and why is it important?

How to build an inclusive Employee Value Proposition (EVP)

🔍 Discover your EVP pillars with our 2-minute EVP quiz

Have you ever stopped to think about what makes up your EVP and the different areas that define you as a company? Whether you have given it a little thought or none at all, our EVP quiz can help. This quiz is designed to help you identify your most valuable EVP pillars so you can shout about them to retain top talent. Once you complete the quiz, you will be shown your EVP tags as per the below example. These tags will highlight your company mission and values, work culture, and working environment.

When you become a Flexified company, these tags can feature on your profile to help you retain top talent. Candidates can also use these EVP pillars to search for companies, making it easier to attract aligned talent. You can take the EVP quiz here.