In a skills-short market, businesses across all sectors are looking more closely at their strategies for attracting and retaining their talent. And whilst a focus on employer branding has been a part of business DNA for a number of years (prevalent in the early 1990s and usually straddling both the marketing and HR functions), the last decade has seen a new phrase coined that takes the concept a step further.

The Employer Value Proposition (EVP) has become somewhat of a buzzword more recently – especially as businesses operate in an increasingly competitive and borderless world that is economically volatile.

Pioneer of employer branding research, Brett Minchington defined an EVP in 2005 as “a set of associations and offerings provided by  an organisation in return for the skills, capabilities, and experiences an employee brings to the organisation.”

In simple terms, it is the way that businesses differentiate themselves in their particular market allowing them to not only attract and recruit ‘right fit’ new employees but also impact the engagement and retention of existing staff members.

Why Your EVP Could Be Your MVP

While there seems to be more jargon and acronyms than ever – what is clear is that it is more important than ever for businesses to communicate the compelling reasons why future hires should choose to work with/ for them.

In the past, many businesses assumed the key to a successful EVP was simply offering their team the best salary and benefits. However, teams today are looking for more than just financial value in their careers.

As attitudes to the workplace have changed, so have priorities as professionals now have more opportunities than ever to consider where, how, and when they work.

Vacancies offering fully remote or hybrid contracts means that staff are no longer restricted by geography when assessing new opportunities in the market, and with the net cast wider – so too are the opportunities (and indeed, competition).

Fundamentally you need to communicate all the specific and unique benefits an employee can expect to receive when they join your business. These should seek, where possible, to differentiate yourself from competitors operating in the same region and/or practice area; describing (and making tangible) what the business stands for – vision, culture, and working environment.

According to Gartner, a leader in people management, an EVP can massively strengthen your position in the hiring landscape and improves your chances of retaining talent, decreasing annual employee turnover by just under 70%, whilst increasing ‘new hire commitment’ by nearly 30%.

The War For Talent Is Over. Talent Won.

The quote above by PwC’s US Chairman, Tim Ryan in October last year continues to do the rounds as the UK’s drought of talent is still felt across many industries and professional sectors. As highlighted in a recent article on Maddyness, UK unemployment rates remain at a historic low of 3.75%, and with vacancies still at heady heights (compared to pre-pandemic levels), there remains a disconnect between demand and supply.

Furthermore, those businesses that were proactive in securing talent by offering inflated salaries may no longer have this option against a backdrop of economic uncertainty, and squeezed budgets.

And whilst this may on the surface start to level the playing field between small and medium-sized companies who couldn’t compete on price, the challenge around standing out on the things that matter very much remains.

Creating a stand-out working culture and work environment, and offering staff a holistic package of perks and rewards is only the first step, however. Finding innovative, bold, and creative ways to communicate this externally (and through internal channels) is key – and should go beyond one-dimensional lists on websites and job descriptions.

Attracting The New Generation Of Talent

It is a well-publicised fact that Generation Z, the youngest generation to approach the working world, will soon surpass Millennials as the most populous generation on earth. By 2030, this group will make up 30% of the workforce, bringing new demands, expectations, and priorities for employers to consider.

Often raised by innovative millennials, Gen Z is the most diverse and educated age group in the professional world today. Born into a connected, digital, and empathetic world they spend approximately half of their waking hours interacting with technology. Shaped by an era of social feeds and internet culture, the slew of powerful social justice movements they’ve witnessed in recent years have given them a unique sensibility and a strong stance regarding ethical business practices and equity.

Generation Z undoubtedly has several valuable characteristics to bring to the workplace, yet their approach may cause certain challenges for business leaders as they aren’t motivated or moved by the same things as their millennial parents (we looked at some of these recently in our detailed guide on Motivating Gen Z Employees).

What has been already noted, however, is that this demographic cohort (known colloquially as ‘zoomers’) is emerging as the ‘sustainability generation’ – impacted massively by global events like the Pandemic which, according to Forbes, didn’t start the sustainability revolution necessarily, but certainly put it into overdrive (with Gen Z in the driver’s seat).

Attracting and retaining this generation will therefore need to focus on green and eco-credentials, and general CSR initiatives as part of a wider employment proposal that is demonstrably ethical, moral, and has a societal purpose. 

CSR & ESG – as easy as ABC?

Employer value propositions are evolving, due to shifting business priorities, working patterns, and employee values as well as external factors like the economy and political landscape. A focus on well-being and wellness initiatives, work-life balance, diversity, and inclusion are continuing themes setting value propositions apart across the professional landscape, alongside programmes and statements centred around Corporate Social Responsibility (CSR).

But with a new acronym on the block for businesses to get their heads around – ESG… it’s no wonder there is some confusion around where they should place their focus amidst this ‘alphabet soup’ of initiatives.

Corporate Social Responsibility (CSR) is a business approach designed around making a social impact and focus beyond profits. It is designed (or should be) to benefit society and the local community as well as the environment for the collective good – and in turn will also, by proxy, enhance the company’s image, generate more business, and earn customer and employee loyalty.

It is generally split into 4 areas:

1. Environmental
2. Ethical
3. Philanthropic
4. Economic

All are aimed at providing benefits to both the general public as well as company shareholders and employees.

Environmental, Social, and Governance (ESG) isn’t quite the same – although according to a Harvard Law School study in 2021, both terms do appear interchangeable. Rather, this programme is more data driven, and increasingly  an act of corporate compliance; defined as ‘a set of standards measuring a business’s impact on society, the environment, and how transparent and accountable it is.’

In brief, the three areas or factors look at:

• Environmental – a business’ impact on the environment, such as carbon emissions, waste management, and resource usage.
• Social – a business’ impact on society, including issues such as labour practices, human rights, and engagement with the local community.
• Governance – a business’ management and oversight, such as board and management structure, executive compensation and remuneration, and shareholder rights.

ESG has become increasingly important for investors and businesses as stakeholders demand greater accountability and transparency on sustainability and ethical issues. The key difference therefore compared to CSR, is that it is viewed as the outcome (measured and reported on) of a business’ sustainability, whilst CSR focuses on their voluntary actions to improve its impact.

An even simpler comparison by Akepa:

• CSR: a general sustainability framework, mainly used by companies
• ESG: a measurable sustainability assessment, popular with investors

In Conclusion

As a Managing Director, Manager, or Hiring professional within a business, getting your head around the many acronyms and initiatives is the first hurdle in understanding the evolving values that current (and prospective) employees have when it comes to their employer.

Understanding what these shifting ideologies are is critical when it comes to retaining, engaging, and attracting talent  – although it is equally as important not to pay lip service or view things like your EVP as a box-ticking exercise.

What is clear, is that embracing CSR (Corporate Social Responsibility) has become a necessity for businesses around the globe, not least because it remains high on the agenda of both Millennials and Gen Z employees who are ever critical of their employer’s ethical stance, reputation in the market, and values that they hope will mirror their own.

In a LinkedIn News article from earlier this year, it was reported that these demographic cohorts actively consider “conscious quitting” if the company doesn’t align with their values. It also highlighted research from KMPG which stated that 46% of employees want their employer to ‘demonstrate a commitment to environmental, social and governance’, with 1 in 5 turning down the offer of a new role if they felt a disconnect.

Clayton Recruitment’s Commitment

Of course, CSR, ESG, EVP, and any other business-related acronym are relevant to all businesses – ours included.

As a prominent Northwest employer that has been in business for nearly 25 years, we also recognise the importance of our own value proposition when it comes to our people and our community.

Our commitment to CSR can be seen here, where we detail our approach, programme, and statement of intent as we strive to become a socially responsible business, both internally and externally – making a positive impact on our people and workplace, our clients and suppliers, our local community, and our local and global environment.

The purpose of our programme is to sustain a business that is successful and respected in its ethical standing by our stakeholders. These include candidates, clients, investors, regulators, suppliers, and the wider community.

We are particularly passionate about supporting causes that have roots and impact here in the UK, and in the Northwest. One initiative that we have recently joined and committed to is Ecologi, a certified B-Corp social enterprise, and platform for Climate Action; helping individuals, families, and businesses become Climate Positive.

This market leader is certainly gaining traction and publicity, and we are delighted to join the other 40,000 members in taking simple, but impactful climate action. This year we have committed to fund the planting of trees in the UK for every placement we make and are also involved in the Beta trial to calculate our carbon footprint, and put plans in place to reduce our emissions.

You can see the impact of Ecologi’s work and their UK reforestation projects here.

In addition, Managing Director, Lynn Sedgwick and Performance and Development Director, Louise Kearns joined the Good Growth Programme in February this year, ran by Lancaster University and supported by Boost, Lancashire’s Business Growth Hub.

The 5-month Programme was underpinned by world-leading research produced by Lancaster University Management School and focused on business strategies that are centred around the environment, community, and social justice. It was a great chance to connect and collaborate with other SME leaders and contribute to solving local and global challenges.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across the country since 1989, and during that time has built up an excellent reputation for trust and reliability.

With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on both a permanent and temporary basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.

Before we look at ways to build a diverse workplace for your team, it’s worth thinking about what exactly we mean by a ‘diverse workplace’. There are so many buzz words around at the moment that it’s hard to know what they all mean – and if they communicate the same thing to everyone.

The ‘company culture’ that diversity and inclusion bring have gained momentum as de rigour in the world of work for candidates looking for employment. A recent workplace study found that 56% of employees valued a good company culture fit over salary.

Workplace diversity means employing people with a wide range of diverse characteristics. These could include age, gender, race, religion, cultural background, language, sexual orientation, education, ability, etc…the list goes on.

But it’s not just a fad – there are tangible benefits from offering a diverse workplace in the form of achieving higher productivity and profits for those who embrace workplace diversity in their business. And workplace diversity was one of the key trends last year – with no signs of stopping as we head towards 2020.

So, how will building a diverse workplace for your team encourage them to flourish? Here are 9 ways diversity can help your business achieve success:

1. Increases Creativity

Diversity is one of the critical ingredients for creativity. Diverse solutions come from having multiple options that are provided when you have a group of individuals with different thought patterns, world views and ideas.

In your team, having employees who are all very similar in terms of mindset and life experience inevitably leads to a smaller viewpoint overall.

Conversely, harnessing the personal creativity-diversity techniques of a group of people who recognise that everything can be viewed in multiple ways can lead to the generation of more creative ideas. If your Fee Earners and Solicitors come from diverse backgrounds and experiences, they will inevitably have a wider pot of knowledge from which to draw fresh ideas and solutions.

2. Allows Different Perspectives

Different perspectives are beneficial when it comes to strategic planning.

The ability to see things from alternative points of view will allow your business to better judge which direction it should take in goal planning. Having varied options, and a clear idea of results from those options will enable your business to decide which is the best route to take to achieve the required overall result.

3. Makes Problem-Solving Easier

Again, the scope provided by a diverse team makes it quicker to problem-solve. Because different individuals think in different ways, it’s possible to quickly come up with various potential solutions to a problem, from which a final decision can be made.

This Harvard Business Review report confirms that diverse teams solve problems faster than cognitively similar groups.

4. Encourages Innovation

A melting pot of novel world views can open doors to innovation. It can be inspiring to be part of a group that sees things in a different way and can come up with creative innovation that otherwise may not have been considered. The ability to think outside the box and from a different angle can enable diversity of ideas to come to light.

Additionally, in an environment where diversity and inclusion are nurtured, it’s likely that individuals are more inclined to voice their ideas without fear of reprisal or ridicule. For example, junior members are more enabled to come forward with ideas if they believe they will be listened to and encouraged to contribute.

In a forward-thinking workplace, you are more likely to achieve innovation through group participation – you never know what ideas your team may hit upon!

5. Engages Employees

The link between diversity and engagement is an obvious one. Where employees experience inclusivity they automatically feel engaged and loyal to their business.

Businesses that has engaged employees will benefit from a strong team with shared values. Along with diverse and inclusive traits comes a nimble and agile team who can turn things around quickly, achieving more in less time and with access to multiple possible solutions – driving your business forwards.

6. Improves Company Reputation

Your Employer Brand is how you are perceived by the outside world. To ensure your business is seen in a positive light as knowledgeable, reliable and at the top of your game, it’s essential to ensure that your employer brand is truly reflecting your worth and achievements.

Having happy and motivated employees helps your business retain its status and reputation. In addition to the better service they will inevitably provide your clients, their online chat and information – formal and informal – alongside word of mouth and personal recommendation to friends and family, will help position you as the go-to business.

7. Achieves Better Retention

A business who offer a diverse and inclusive workplace is going to make their employees feel valued and appreciated as individuals. Happiness in work leads to better retention levels, with staff showing loyalty to a fair employer and staying with them to build their career. Employee turnover can be costly, so investing in your diverse team is pivotal in achieving better retention rates.

8. Attracts New Talent

Ultimately, a business with a great reputation for diversity and inclusion, who has engaged employees, good profit margins, innovative ideas, a superb reputation and high retention levels is bound to attract new talent to want to work there.

And if that isn’t enough to convince you…

9. Increases Profits

McKinsey & Co found that where companies had more diverse teams, they also performed better financially.

Diverse teams are better able to win new talent to the business. This, in turn, helps to improve client service, employee satisfaction and make decision-making faster.

All this gives a forward-thinking, diverse business an advantage over competitors and enables them to achieve more profit as a result: a cycle of increasing returns.

Conclusion

Bringing a mix of skills and experiences to the workplace is good for business, providing an admirable company culture for your business. It’s worth noting that this starts at the top, too. Diversity at senior level is more likely to introduce new product innovations than are those with homogeneous “top teams.”

In the millennial age, offering diversity and a great company culture means harbouring an environment where all employees are respected and valued, where there is a vision shared and worked towards by everyone, and where communication, transparency and teamwork are paramount.

While I’m not suggesting that achieving excellent diversity across your business will be easy, it’s something to consider working towards. The benefits are multiple, and your employees will thank you for it – as will your Senior Partners when they see the benefits reflected in the business’s reputation and profit margins.

About Clayton Recruitment

Clayton Recruitment has been partnering with organisations across thecountry since 1989, and during that time has built up an excellent reputation for trust and reliability. With specialist divisions covering Commercial, Financial, and Engineering appointments, on a permanent basis.

If you are looking for your next career move, we can help. Call us on 01772 259 121.

If you would like to access our free guides, view them all here.

Commercial talent; often it feels as though there isn’t any! And it’s not just a feeling either; in January, the British Chamber of Commerce published findings that skills shortages in both service and manufacturing industries were reaching ‘critical levels’. The headlines make for sobering reading, although it’s not all doom and gloom. Businesses can take specific steps to give themselves a much better chance of attracting, and retaining, the very best talent: a strong employer brand and a reliable recruitment partner could make the difference your company needs.

Building a brand: need to know

If asked to name a famous brand, there’s probably half a dozen or more that you could name off the top of your head. We’ve all heard of consumer brands like Coca-Cola, but what about employer brands?

An employer brand should be to your potential employees what your market branding is to the people that buy your products and services. It should be appealing and should essentially portray your business as a desirable place to work – as it is, no doubt. An employer brand might showcase the following aspects of your company:

• Success stories – what kind of achievements have your staff made since working in your company?
• Culture – is it work hard, play hard, or do you encourage staff to pursue a healthy work/life balance?
• Quality of work – is the work varied, challenging and interesting?
• Training and development – what opportunities are there to enhance skills, and how might a candidate grow their career with you?
• Benefits – apart from salary and financial reward, what are the benefits of working for your business over and above another?

Reassurance

Post-recession and post-Brexit, those on the lookout for a new job want to know that the company they decide to work for is a solid investment of their professional time and skills. Businesses need to reassure potential candidates that their prospects are good and that the company offers a good fit in terms of values.

A strong employer brand shouldn’t just work to attract new talent, it should help to retain existing talent. In fact, one of the most effective ways to devise a strategy for creating an employer brand is to communicate with your existing staff. Find out what motivates them, what they would like to see more or less of, and how their experience could be improved upon and you’ll have a good idea of what potential employees are looking for.

Getting the right support for your employer brand

Having an employer brand is valuable and should pay dividends in the long term. A great employer brand, however, takes time to create, establish and maintain. And all the while the war for talent rages on. The very best talent work hard and it’s hard work to attract them to your company too!

A recruitment partner that works in the background while you concentrate on your own brand-building activity can be incredibly beneficial. An established recruitment agency will already have their own brand and a good reputation, which reflects well on your business and provides reassurance to the candidate. What’s more, a recruitment agency, especially one with a broad spectrum of commercial experience, will have their ear to the ground and be able to keep you informed of candidate feedback and motivations to be aware of when establishing and maintaining an employer brand.

Not just a helping hand

Clayton Recruitment’s regional analysis of recruitment trends in the North West found that vacancies are on the increase across all industries from commercial finance to logistics: it doesn’t appear that the skills shortage will be coming to an end any time soon. The benefit of working with a recruitment partner is that while you’re busy building up your employer brand, the agent can access their existing pool of talent to find you the best candidate.

An agency that understands and has plenty of experience in commercial recruitment is key too. They can use their extensive and wide-ranging sector knowledge to filter out the very best talent that matches up with your needs. And while the skills shortage isn’t likely to disappear overnight, it can take a weight off your shoulders knowing that a professional is handling your company’s recruitment.

If you’re thinking of creating an employer brand or think that your existing brand needs re-developing, then why not get in touch with Clayton Recruitment? We’d be happy to chat about employer branding or help with finding the best talent for your business.

If you’d like to find out more about building an Employer Brand, please download our guide here.

If you’d like to find out more about the benefits of using a specialised recruitment company, have a look at our blog on how to get the best out of your recruitment company.