Find and Keep Great Staff With an Employee Value Proposition

Fix your turnover troubles with a well-crafted employee value proposition.

No matter which industry you’re in, there’s one thing all contracting business owners can agree on – in the current labor market, good people are hard to find… and even tougher to keep. 

For the trades, hiring has never been more competitive. But there is a way to stay ahead of your competitors when it comes to attracting quality candidates: a strong employee value proposition.

What is an employee value proposition?

An employee value proposition (EVP) is the collection of perks and benefits that a contracting company offers its team members. An EVP extends beyond just compensation to other elements that can improve employees’ lives, and attract top-tier talent to the company.

Why is an EVP important for your contracting business?

Being able to offer your team a great EVP package has all sorts of positive kick-backs for contracting companies. Here are some of the biggest payoffs:

Less turnover

At Breakthrough Academy, we’ve spent lots of time exploring the employee turnover problem in the trades and are well aware that suffering through the grind of finding new hires just to have them waltz out the door creates expensive churn for contractors.

But a Gartner study found that companies with a compelling EVP can cut down on their turnover by a staggering 69%. An EVP creates a compelling magnet for quality candidates to apply for your roles… and then stick around after they join.

Lower compensation costs

While giving your people MORE STUFF may sound pricier on the surface, if you look a little closer, an EVP can actually offer dramatic payroll savings, sometimes to the tune of 50%.

We’ll get more into what that might look like in a bit, but for now the big thing to clock is that people aren’t always as motivated by money as it seems. In fact, research from the University of Toronto has found that people are willing to work for lower salaries if they consider their work to be meaningful.

And trades work can be INCREDIBLY meaningful.

Better job candidates

Let’s face it, the trades have it tough when it comes to reeling in A-listers. But smart people know a great deal when they see one, and contracting business owners WANT those people on their team. 

An EVP is like a bright flag on your job posting that speaks to quality candidates, saying, “You belong here!”

Stronger employee engagement

When employees feel supported and appreciated, it shows in their output. They’re more cooperative and proactive, with each other and with customers.

Gallup has found that companies reap substantial benefits from having an engaged team, with productivity improving between 14% to 18%.

An EVP ensures that staff and crew feel cared for outside of the office or jobsite and allows people to bring their best selves into their work, which is a win for everyone.

Improved company reputation

An EVP can impact how your contracting company is regarded by the outside world, and by extension, how much customers are willing to pay for your services. 

Staff talk. If your employees are happy, they’ll tell their friends, some of whom may work in the trades. Word spreads, and soon you’ve got prospects calling to ask if you need any extra hands. 

Customers share. They leave stellar reviews about the incredible customer service they experienced, and your phone starts ringing with possible leads.

There’s a ripple effect that comes from creating conditions for excellence, and it can start with something as simple as a solid employee value proposition.

Higher profits

By this point, it should come as no surprise that if you’ve managed to upgrade your team’s engagement and boost productivity you’re going to see an impact on your profit margins. 

Once again, the research bears that out. Having an engaged, committed team can raise profitability by 23%, which means you’ll have more resources to help scale your business.

How does your EVP compare to your employer brand?

Your EVP should align with your employer brand. While the two concepts definitely influence each other, they do have slight distinctions.

• EVP – Your EVP is internally focused, meant to function like an exchange you make with your employees. It’s the specific rewards they earn for their commitment and that makes their work a fulfilling experience they can’t get anywhere else. 
• Employer Brand – Your employer brand, on the other hand, is your external reputation. It’s what you project to the world. It helps motivate prospective staff to want to join your team and be a part of the larger purpose you’re creating.

How to create your value propositions for employees

Your EVP will encapsulate the essence of why your team chooses to remain loyal to your company, and there are a myriad of perks you could offer your employees. How do you know which are the best ones to include?

Get input

This is pivotal! Don’t just randomly throw things into your EVP. Find out what your team truly wants. The best way to uncover that is to ask them. 

Run an anonymous survey where employees can provide feedback on what areas of their work and personal lives could use more support. 

When people leave (hey, it happens…), conduct a brief exit interview before their last day. Keep it amicable and ask what they’d change if they could. This is a great opportunity to gain insight into where your company may be falling short.

Picture your people

You’ll also want to think about what your future team members may want.

To do that, you need an idea of who they might be. What are they looking for in a role? What perks might entice them to apply? What benefits would compel them to stay?

This can be a tricky step. That’s why we created this Quick Tool that walks you through how to create an Ideal Candidate Profile. It’ll help make your image of future employees crystal clear.

Find your company’s unique value sweet spot

Sorry to hit you with one more hurdle, but it’s not enough just to have an EVP. It has to be a UNIQUE EVP. What can you offer employees that none of your competitors can?

Beyond that, think about needs that are specific to your industry. What supports do others overlook that would be real game-changers for your people?

As you’ll see in the next section of examples, these don’t necessarily need to be complicated or costly. Often they’re just thoughtful. But as they say… it’s the thought that counts.

EVP examples for contractors

Now we’re getting down to brass tacks. The nuts and bolts, as it were.

As you start pinpointing exactly what your EVP will look like, think holistically. How can you help your people become their best in EVERY facet of their life?

Here are a few areas to consider:

Material

Competitive salaries are a given, but an attractive EVP goes beyond just money. Money is easy. A-players want more. Beyond a nice paycheck, think about ways you can make your team’s lives materially better. 

Here are some ideas to get you started:

• Retirement plans
• Stock options
• Student loan repayments
• Trucks they can take home
• Stipends for gear
• Discounts from equipment or clothing suppliers

Well-being

Once you’ve got your employees’ financial needs covered, turn your attention to how you can support their psychological and emotional well-being. 

An EVP that looks out for an employee’s well-being and helps them take care of themselves and their dependents is gold dust. Here are some ways to do it:

• Health benefits
• Unlimited vacation
• Discounted gym membership
• Parental leave
• Caregiver support, such as childcare, eldercare or pet care subsidies
• Life insurance 
• Paid year-end shutdown where the company closes for a week so everyone can celebrate and rejuvenate
• Mental health coaching, include addictions counseling
• Sabbaticals
• Remote or flexible working options for office staff
• Free meals

Growth

So, here’s the thing. If you’ve managed to bring in top-tier talent, your next challenge is keeping them. But bright minds need something to strive for. Show how they can continue advancing their personal growth and their careers at your contracting company.

You’ll want to include at least a couple of the following in your EVP:

• Training programs to earn more advanced trade certifications
• Solid onboarding practices that use SOPs
• Accountability-based performance incentives based on GSRs
• Employee recognition program
• Career progression program
• Leadership development program

Culture

What makes being a part of your team an unmatched employee experience? The elements of your company culture are priceless. They’re built over time and start at the top, with you.

Leadership has a massive impact on culture, to the extent research has found that uncaring and uninspiring leaders are one of the top three reasons people quit.

Here are a few ways culture can shape your EVP:

• Work-life balance
• Stable, predictable schedules
• Well-run projects
• Good communication
• Respectful working environment
• Zero-tolerance for bullying 
• Independent decision-making by employees
• Dependable team
• Good leadership

Purpose 

How does your company make the world a better place? What larger purpose do your people become a part of? If you haven’t given much thought to these questions, this Painted Picture Tool can help you identify a broader purpose for your contracting company.

Research has shown that over 60% of customers prefer to do business with companies whose values align with their own.

This is an area where you can really get creative. Find ways for your EVP to bring your mission statement to life, such as through:

• Community service
• Volunteer opportunities
• Charitable contributions

Case study

For Claude and Judy Kolk, landscaping found them unexpectedly. It started with selling a few trees, and then quickly became Kayben Landscaping, a full-fledged landscaping business. 

But they struggled to find the right type – and number – of people they needed. After just four years with Breakthrough Academy, which included adding performance and progressive career paths into their EVP, their business DOUBLED in size.

How to uphold your employee value proposition

Your EVP is basically a promise you make about what you’ll give your employees in exchange for their commitment to your company. It’s only as steadfast as your ability to deliver.

Here’s how to ensure you’re able to hold up your end of the deal:

• Afford it – If you were scrolling through the examples wondering how you’d cover them, the answer is simple: with a budget. If you need to brush up on yours, this Budget Tool can help. 
• Systemize it – Get your EVPs encased in solid systems that make them fail-proof. Need a hand? It’s what Breakthrough Academy does.
• Promote it – Share your EVPs! Put them on social media, include them in job descriptions and showcase them with employee testimonials on your website.

• Track it – Set metrics, like retention rates and employee satisfaction, to measure the impact of your EVP, and update your benefits to keep them current and relevant.

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Get started on creating an unparalleled Employee Value Proposition TODAY by downloading the Ideal Candidate & Job Posting Tool.

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