As the latest entrants into the job market, it’s time to adjust your EVP (Employer Value Proposition to attract Gen Z. In fact, as much as 32 per cent of the global population is made up of Gen Z, with those born between 1997 and 2012 falling under this umbrella. Therefore, it won’t be long before more than 50 per cent of the workforce is made up of Gen Z and millennial employees.
Many modern companies rely on young talent, which is why the time is now to assess your Employer Value Proposition model. To future-proof your business, you need to offer what Gen Z is looking for.
What is an Employer Value Proposition?
The Employer Value Proposition definition is as follows:
A business’ fundamental values that form the overall employer brand. Essentially, it’s a “contract” between an employer and (a prospective) employee; in exchange for a candidate’s experience, skills, and talent, the company offers them incentives. Therefore, an EVP allows businesses to get their hands on top talent.
Best Employer Value Proposition examples
While an EVP needs to be an attractive offering, it also needs to be realistic. It’s tempting to make your EVP sound truly remarkable, but you’ll find more people will respond to EVPs with substance.
A standard EVP structure should consider the following:
- The employee experience.
- The company’s unique offerings.
- The offerings of the company’s competition.
A combination of these considerations should enable you to create a great EVP. The purpose of an EVP is to attract candidates your company wants and provide them with the necessary incentives.
How to create an Employer Value Proposition for Gen Z employees
Of course, every individual has different priorities when it comes to employment opportunities. Despite this, some of the most common sought-after aspects of employment are detailed below.
While it’s true that every generation requires some form of compensation, it’s particularly important to Gen Z. Having grown up in a recession and spent their early employment years in a cost-of-living crisis, financial security is more important than ever. That said, competitive salaries alone won’t do the job; you also have to offer other rewards (e.g., flexible hours, WFH opportunities, paid time off, etc.)
Provide meaningful work
Since most Gen Z-ers were pushed down the higher education route, they’re much more concerned about having a career rather than just a job. They don’t want to do a day’s work to simply pay the bills; they want to do something that has meaning and makes a difference. Their main goal in going to work is to build experience, develop their careers, and improve their earning potential.
Gen Z emerged into a candidate-driven market, meaning they have the opportunity to be selective about the companies they work with. As a result, businesses need to have unique offerings that set them apart from the competition. Ultimately, you need to form a company vision that appeals to Gen Z.
Having grown up with social media, Gen Z is all about being connected with one another. Therefore, it’s important to Gen Z that they can work with people they enjoy and build personal relationships with them. Gen Z is the most diverse generation, meaning inclusivity is paramount; people are expected to be approachable, regardless of titles.
As previously mentioned, Gen Z is a generation that’s very concerned about building a career rather than just having a job. Consequently, employers need to provide learning and growth opportunities to make their company seem appealing. This might include the chance to work on the front line or the option to collaborate with experts in the industry.
Do you need help navigating your Employer Value Proposition for Gen Z? Contact us to learn more.