The importance of EVP in early careers recruitment

At Monash Talent, we aim to bridge the gap between top student and graduate talent and leading industry partners. As the Engagement & Delivery Manager, I lead initiatives that not only connect these bright minds with exciting career opportunities but also ensure our organisations can attract and retain this talent effectively. A cornerstone of our approach is helping our partners craft compelling Employee Value Propositions (EVPs) that resonate with the aspirations and values of current students and recent graduates.

Having come from delivering EVP solutions within a corporate environment, my move to Monash has been eye-opening to say the least in highlighting just how important it is for organisations to focus their efforts on brand awareness with early careers talent.

The Role of EVP in Attracting Graduate Talent

A well-defined EVP is crucial for companies looking to attract graduates, and let's face it, that's most organisations right now. Young professionals seek roles that offer more than just a paycheck; they value development opportunities, a positive culture, and work that feels impactful. Our role is to help clients shape an EVP that speaks to the next generation, making their opportunities stand out in the competitive graduate job market.

Developing Tailored EVPs for Clients

Creating an EVP that appeals to graduates requires a deep understanding of their current expectations and lifestyle preferences. Out team has the unique position of being able to tap into student insights to understand what's important to them, and then work closely with our clients to identify and align the strengths of their organisation and how these can be leveraged in their EVP.

So...What are Graduates Looking For?

Monash University is Australia's largest university, with 86,000 current students and a network of over 400,000 alumni. This gives us a significant pool of talent to tap into to understand what graduates are most looking for in an organisation. Whether you're targeting Monash students or a broader cohort, we know that it's important for them to see:

1. Career Development Opportunities: For a substantial proportion of students, the potential for growth and advancement is a top priority. We advise our partners to highlight clear pathways for growth and learning within their organisations. Graduates want to see how they can progress from the outset.

2. Work-Life Balance: Students understand the significance of maintaining a healthy work-life balance and look for flexible work environments that support this. Whether your organisation operates onsite, remote or hybrid, or offers arrangements such as part-time, job-share or flexible hours, it's important to reflect this in your recruitment marketing.

3. Compensation and job security: In today's economic climate, it's not surprising to see compensation, financial sustainability and job security climb the list of priorities for students and graduates considering which companies to apply for. Make an effort to communicate stability and security in your EVP.

Communicating the Value Proposition

Effective communication is key to the success of any EVP. We support our industry partners in deploying their EVPs across internal Monash University channels that reach the right students and the right time, including digital learning platforms, social media, on-campus screens, careers fairs, and information sessions. For a generation that is often overwhelmed by the volume of information available to them, it's important to consider the most effective channels of communication for the cohort you're targeting. Traditional job-advertising channels just aren't cutting through the noise, or presented in a format that is engaging for your target audience.

The Impact of Tailored EVPs

It's widely reported that organisations with a well-developed and considered EVP see increased engagement at all levels of recruitment, and an increase in applications from suitably qualified candidates. Those who are practised in employer branding know that there is just as much benefit in encouraging candidates to opt-out if it's not the right opportunity for them, as it is to have candidates opt-in. These organisations with an authentic and personalised EVP not only fill positions more quickly but also enjoy longer-term retention of top talent, reinforcing the effectiveness of well-crafted messaging.

I recently had the opportunity to delve deeper into the topic of Employee Value Propositions at a webinar hosted by Accurate Background. During this session, we discussed the nuances of creating effective EVPs that resonate with today’s workforce. For those interested in gaining a more comprehensive understanding of the strategies discussed, I encourage you to view the recording of that webinar via the Accurate Background website: https://www.accurate.com/au/blog/how-to-craft-evp/

At Monash Talent, we are committed to ensuring our clients succeed in the competitive landscape of early careers recruitment, and in turn open up the eyes of our students to the breath of opportunities in the market. As the needs of the workforce evolve, so too will our strategies, keeping our partners well-positioned to effectively build their talent pipeline.