When I visit businesses, we quickly enter into discussions about their challenges and frustrations. And guess what’s at the top of the list? You guessed right—people. It’s not just about finding individuals with the right skills; it’s also about ensuring they will be reliable and won’t be tempted away by a few extra pounds an hour.

Why is it so hard to find staff? One answer could be the rate of unemployment. Many economists consider an unemployment rate of 5% or lower as full employment. The UK’s unemployment rate is currently 4.2%, suggesting that our economy is running at full capacity, which explains why many businesses are struggling to attract and retain people.

Although the unemployment figures are low, productivity figures suggest that we aren’t getting the best out of our staff. Reports of high presenteeism and underemployment indicate that some employees aren’t as engaged and motivated as they could be.

The harsh reality is that the situation is unlikely to change anytime soon, so businesses will need to develop new ways of attracting, engaging, and retaining good people.

So, what’s the answer? Businesses go to great lengths to develop strong customer value propositions that help them stand out from the competition and attract customers. To attract the right people, the same effort needs to go into the development of employee value propositions that help you stand out from the competition and leave people with a burning desire to work for you.

Creating a Compelling Employee Value Proposition

Understand the people you want to attract, engage, and retain.

An EVP isn’t just about attracting people; it’s about keeping hold of them, providing them with fulfilment, and supporting them to perform. To do that, you need to understand the people you’re trying to attract. A great way of doing this is by building ‘employee profiles’ for the different groups of people you want to attract and retain. Doing this will allow you to understand what will appeal to them and be more targeted in how you engage with them.

Let’s consider Gen X (born between the early 1960s and early 1980s), who are likely to be attracted by flexible working, job security, and retirement benefits. In terms of the working environment, they are likely to be experienced and want to be empowered and work in an ethical culture. On the other hand, Generation Y (born between 1981 and 1996) is likely to place more emphasis on having access to the latest technology, ensuring alignment with their values, and seeking growth opportunities. They will likely have a more entrepreneurial outlook and prefer cultures that allow them to explore new ideas and take a few risks.

The more targeted you can be with your messaging and communications, the more likely you are to resonate with the right people for your business.

Look at what competitors are offering.

If you lose potential employees to competitors or people leave you for other companies, it’s worth taking a closer look. What are they attracted by? Is it the culture? The benefits? The ways of working? Their client base? Their purpose and values? It’s likely to be a mixture of these things.

Understanding what attracts people to other businesses will help you figure out how to gain an edge over the competition. This isn’t about copying but rather about figuring out what you can do differently and better.

Getting heard and noticed by the right people.

Finally, there is no point in having a great EVP if it doesn’t reach people. Just like advertising to customers, the message to employees must cut through. The more targeted you can be in your messaging and communication channels, the better. This could include targeted LinkedIn campaigns, SEO and content marketing, targeting the right job boards, relevant networks, as well as recruitment agencies specialising in your target market.

There is also no better advocate for your business than existing employees who love working for you. Ask them to spread the word to people in their networks who align strongly with your business, its values, and its purpose.

And finally, it goes without saying that your EVP needs to be genuine and authentic—it needs to reflect reality. If not, people will vote with their feet.

At RTC, we have a team of 100+ scale-up, innovation, and growth specialists who work with businesses to attract, engage, and retain the people needed by businesses to grow and compete. Get in touch to find out how we can help you achieve your vision and goals.