Beyond just the salary…

I have spoken and written on the topic of the Employee Value Proposition (EVP) on numerous occasions and my perspective hasn’t changed.  Employers must deliver a compelling deal to attract, retain, and engage their employees to be successful.  I thought it would be interesting to look at the issue of the EVP through the eyes of my colleagues here at Arrowhead Talent Solutions given they deal with this issue each day and they see directly where the difference is made between companies that “get it” and those who do not.

All parties, employers, candidates, and recruiters need to be aligned on the importance of the EVP.  The candidate needs to know what they want.  The employer must formulate the EVP and deliver on it, and the recruiter is the necessary conduit.

What I have witnessed working alongside my recruiting colleagues is they excel in coaching our clients on elements of the EVP.  It starts with a competitive compensation package.  And the same can be said for the other elements of total compensation – holistic health benefit programs including mental health and wellbeing and a retirement savings plan that serves as the foundation of the employee’s financial security and wealth accumulation.

Next and just as important is the investment in developing the individual.  This makes the job more than just a job. By demonstrating a clear path for development and advancement, the job becomes a career. The best candidates want a career, not just a job. Top performers will leave if they see no path forward.  The path is paved with training and development, an investment in skill building.  Intentional mentorship provides the means to navigate the path.  Internal movement and progression validate the commitment to career advancement.

A purposeful construct of company culture incorporates these elements systemically.  Salary might get the candidate’s attention but a holistic approach to culture will go way beyond the transactional nature of money.  A focus on wellbeing, schedule flexibility, recognition, and fostering a true sense of belonging rounds out the culture and the employee value proposition.

So, I asked my colleagues how to best influence employers and candidates to think beyond salary and to focus on the broader Employee Value Proposition.

-              Go beyond transactional thinking. Many candidates’ perspectives have been shaped by market dynamics and prior negative experiences.  Consequently, they often feel compelled to prioritize extracting maximum compensation. Without genuinely prioritizing employee wellbeing, the result is ineffective hiring.

-              Candidates are increasingly seeking the full package, not just salary, and that conveying a holistic value proposition is crucial in a competitive market.  There has been a shift: candidates now prioritize culture fit, feeling valued, paid time off (PTO), and work-life flexibility, often stating that fit is more important than salary early in the process. But, with that said, salary remains important. 

-              PTO and work from home flexibility: Candidates want assurance that their time off will be respected or transferred when changing jobs, and they value the flexibility to work from home when personal circumstances arise. These benefits remain very important for many job seekers.

Taken all together, these perspectives suggest that influencing both employers and candidates to focus on EVP requires education, transparency, and genuine commitment. When employers understand and communicate their full offerings—beyond just salary—they attract candidates who are seeking a holistic employee experience, leading to higher quality placements and greater long-term effectiveness.