Material offerings
With rising inflation and salaries, it can be hard to compete on remuneration packages.
Instead, consider how you might set your business apart through alternative benefits such as recognition schemes, access to training, supporting voluntary work or flexible, part-time or hybrid working practices, among other areas.
When considering your EVP, it may be tempting to try and offer everything people ask for. However, it’s important to be strategic as, once implemented, it could be difficult to undo any new benefits or practices.
You will need to decide which levers to pull and consider what’s not easy for competitors to imitate.
What is absolutely essential is continually reviewing the EVP, gathering feedback and assessing your people’s changing needs – then making any necessary changes.
One thing that is abundantly clear for advice business owners in today’s highly competitive employment market is that you can’t afford to stand still.
Kate Sparkes is head of HR & development at Sesame Bankhall Group
