Compensation and benefits are no longer enough to attract and retain key talent. Today’s diverse workforce is still very much in favour of candidates, and employers have to work harder than ever to attract and retain their best employees.
The good news?
There's more opportunity now than ever to define what makes your employer brand different from the rest and impact measurable business results along the way.
A formal employee value proposition (EVP) might just be the ticket to overcoming the challenge of attracting and retaining great employees. A strong EVP not only encompasses an attraction and recruitment strategy, but reinforces retention strategies across the entire organization. It makes candidates want to work and stay working for you.
We've combined our own research with top industry stats to show how important it is for your business to have a clear EVP and employer brand.
According to Towers Watson , 65% of companies are struggling to attract top talent and high-potential employees (64%), suggesting skills shortages are already a fact of life for many businesses. Fewer than half of employees (46%) believe their company does a good job when it comes to attracting talented individuals.
At the same time, 35% of organizations have seen an increase in employees leaving their organization, and more than half admit they struggle to hold on to both high-potential individuals (56%). 54% of companies can’t retain their top performers.
Less than half of employees (42%) believe their company does a good job when it comes to retaining talented individuals, while just over one in four say they intend to leave their employer in the next two years.
So what can you do? Invest in developing your company's unique EVP. Download our FREE infographic to learn how a well-designed EVP can transform your talent game.
 Towers Watson, “Tomorrow's world”, accessed September 5, 2018, https://www.towerswatson.com/en/Insights/Newsletters/Europe/HR-matters/2015/02/Tomorrows-world-talent-strategies-for-now-and-the-future