employee-value-proposition

Vocabulary Word

Definition

'Employee Value Proposition' (EVP) is a term used in business. It sums up everything a company provides its employees. This includes salary, benefits, work culture, career growth opportunities, and recognition. Think of it as the complete package a company offers to attract and retain employees.

Examples in Different Contexts

In employer branding, 'employee value proposition' (EVP) is the unique set of benefits an employer offers to its employees, which distinguishes it from competitors. An employer branding manager might say, 'Our EVP focuses on career development, work-life balance, and community impact to attract and retain talent.'

Practice Scenarios

Leadership

Scenario:

Our team morale is quite low. We need to find ways to motivate and engage our team members.

Response:

An enhanced Employee Value Proposition could do the trick. It could include opportunities for professional development, mentoring, and team building activities.

Business

Scenario:

We are experiencing high employee turnover. How can we create an attractive package to retain our employees?

Response:

Improving our Employee Value Proposition might help. We could offer competitive salaries, benefits, and opportunities for personal growth.