You may not have the deep pockets of larger enterprises, but that doesn’t mean you can’t compete for top talent by crafting a powerful Employer Value Proposition (EVP) and building your employer brand. EB Now 24, a recent survey by the talent insights firm Universum, showed that 67% of SME’s surveyed have developed an EVP or employment promise of some kind. This is a far cry from just a few years ago and underscores the importance of a strong employer brand for employers of all sizes in today’s competitive job market.

Boiled down, an EVP is simply the unique set of offerings and experiences that make your company an attractive place to work. Done well, it’s an employer’s opportunity to differentiate themselves and communicate those unique strengths consistently. In a world where candidates have countless options, including an evolving gig economy and lower barriers to entrepreneurialism, a well-defined and effectively communicated EVP can be a game-changer.

How an SME Can Develop a Winning EVP

While every company’s EVP will be unique, Universum’s latest survey reveals some common themes that often resonate universally with today’s workforce and could be a good place to start for an SME developing an EVP without access to data that can often be expensive and time-consuming to collect.

 Purpose: Top talent is increasingly drawn to organisations that have a clear and inspiring purpose beyond just making a profit and keeping shareholders happy. This is especially true of Gen-Z, who are the fastest growing generation within the workforce. As an SME, it’s likely you’re still more in touch with why you exist and the mission you’re on compared to the corporate goliaths, which could play right into your favour where talent attraction is concerned. Here, you can start by thinking about how you can communicate, in an inspiring way, why your company started, the problems it sets out to solve, and how your company is making a positive impact on society, the environment, or your community. Remember, you don’t need to inspire everybody, just enough highly talented and likeminded people who are bought into your mission.

 Diversity, Equity, and Inclusion (DEI): A commitment to DEI is not just a moral imperative but also a powerful employer brand asset. By showcasing your efforts and, more importantly, your successes with creating an inclusive culture that values diverse perspectives and backgrounds, you can leapfrog other employers, small or large, who’re missing this aspect in their communications or who aren’t successful or concerned about these issues in the first place.

 Innovation: In a rapidly changing world, candidates value companies that embrace innovation and provide opportunities for continuous learning and growth. This can be a low hanging fruit for SMEs who’re often founded around innovative products, solutions or ideas, or who need to innovate fast to compete with more established players. If this sounds like you and your SME organisation, you could consider emphasising your commitment to staying ahead of the curve and fostering a culture of curiosity and creativity to boost your appeal to the right kind of talent.

 Flexibility and Work-Life Balance: Whether it was already heading in this direction or not, the pandemic has undoubtedly reshaped employee expectations around work-life balance and flexible working arrangements. This is another key battle ground where SMEs often have the advantage. With so many corporate employers now calling staff back to the office five days a week, and imposing punishments for those who push back, SMEs now have an opportunity to swoop in and steal this disillusioned top talent by offering them what their current employers are now taking away. If you’re an SME and can offer attractive flexible working arrangements and healthy work practices, there couldn’t be a better time to capitalise on your policies.

Communicating Your EVP Effectively

As an SME, once you’ve defined your EVP it’s still just as crucial to communicate it effectively to your target audiences. Universum’s survey reveals that SMEs are increasingly focusing on target-specific communication rather than a one-size-fits-all approach.

Leveraging cost-effective channels like social media, your career site, and employee referrals to share authentic stories and content that bring your EVP to life can all be done without the need for corporate-sized content teams and media budgets. Due to their small size and friendlier nature, SMEs often find it less challenging to encourage employees to be brand ambassadors and share their experiences working for your company – considered by most as the purest, most authentic, and most desired form of employer branding.

In today’s competitive talent landscape, a well-crafted and effectively communicated EVP can be a powerful differentiator for SMEs, giving them the agility and access to top talent they need to grow and succeed. By clearly articulating what makes your company a great place to work and tailoring your messaging to specific audiences, you can attract and retain the top talent that will drive your business forward.

About Un:Fade Employee Benefits Consulting

Specialists in seamless employee benefits, payroll and fintech solutions consulting. Helping you stand out as an EMPLOYER OF CHOICE by examining your benefits program to ensure cost-effectiveness, and alignment with employee and business goals