Attracting and retaining top talent has become akin to a bidding war. While large companies offer the best packages and attract the best candidates, smaller companies must make do with the leftovers to find diamonds in the rough.
While AI can not change this dynamic, it can help to sort the best available from the rest. However, it is important to remember that using such AI sourcing tools can lead to fishing in the same pools as everyone else in your industry; the primary example here is LinkedIn.
Tip: Consider alternatives to the mainstream job boards, niche job boards that are long-established and have a decent-sized audience with social channels but are NOT available in ATS systems. Select an ATS system that enables you to add and track traffic and applicants from niche job boards (i.e., those they don’t offer or get commissions from). Often, the job boards with the best audience do not deal with ATS systems. This is because the commissions they provide are far too low compared to what they can get from working with companies directly.
Stand out from the pack.
It has never been more important to set yourself apart and define what makes your company more appealing than your competitors. One crucial element that stands out as a linchpin in the recruitment process is crafting the Employee Value Proposition (EVP).
So, what exactly is an EVP? Simply put, an EVP is the unique set of benefits and rewards that an employee receives in return for their skills, experience, and performance within an organisation. It encompasses everything from compensation and benefits to work culture, career development opportunities, and the overall employee experience.
Crafting an effective EVP is not merely about showcasing perks and benefits. It’s about articulating a compelling narrative that resonates with potential candidates, offering them a glimpse into what it’s like to work for your organisation. It answers the fundamental question: “Why should top talent choose us over our competitors?”
A robust EVP is the cornerstone of recruitment marketing and sourcing efforts in several ways. First, it helps organisations differentiate themselves in a crowded marketplace.
Tip: Select niche audiences to advertise to rather than broad audiences (such as Linkedin), and craft your EVP to match a more specialised and refined audience.
Candidates often weigh multiple job offers, and a compelling EVP can help them decide. By highlighting what sets your organisation apart—a vibrant company culture, opportunities for professional growth, or a commitment to diversity and inclusion—you can attract candidates who align with your values and aspirations.
Moreover, an effective EVP is a magnet for passive/latent candidates – those who may not be actively seeking new opportunities but are open to exploring them if the right opportunity comes along in today’s digital age, where passive talent comprises a significant portion of the workforce, having a strong employer brand and EVP can significantly enhance your ability to attract top talent.
Furthermore, an EVP that accurately reflects the employee experience can lead to higher employee engagement, satisfaction, and retention levels. This brings us to the topic of employee well-being and job satisfaction; after all, when employees feel that their contributions are valued and part of something meaningful, they’re more likely to stay with the organisation for the long term, thus reducing turnover costs and ensuring continuity in talent pipelines.
In summary, the value of an effective EVP in enhancing recruitment cannot be overstated, especially when dealing with niche audiences. It is a guiding light for organisations seeking to attract, engage, and retain top talent in today’s competitive landscape. By articulating a compelling narrative that resonates with candidates and aligns with their values and aspirations, organisations can establish themselves as employers of choice and build a pipeline of talent poised for success. The EVP is NOT a static unchanging proposition; rather, it must reflect the audiences being targeted.
