4 Steps to Incorporating Employees’ Top Motivations Into Your Unique EVP

By: Alicia Garibaldi

Seventy-five percent of talent are looking externally rather than internally for new job opportunities. The fight to retain your strongest talent is fierce, and appealing to employee motivators can make all the difference. The better your company can adapt to talent still open for work, the more effectively you can hire and keep your existing employees. 

Studies show that employees work 20% better when motivated, and how you treat employees can positively or adversely affect business. Highly engaged teams increase business profitability by 21%. When employees are motivated and engaged, productivity increases, and employers reap the benefits.

It all starts with sitting down and prioritizing your Employee Value Proposition (EVP). If you can highlight your strengths and values, both candidates and employees will be more enticed to work with and stay with you. Here’s how.

Step 1 — Research job seeker and employee motivations

Even though layoffs have occurred, candidates are very quickly finding new opportunities. The running total of layoffs for 2023 is 168,243 — already exceeding the total number of tech layoffs in all of 2022. But according to a ZipRecruiter survey, nearly 79% of workers recently hired after a tech-company layoff or termination landed their new job within three months of starting their search. “Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly,” said Julia Pollak, chief economist at ZipRecruiter.

Employers need to understand which motivators they can fulfill, and ensure they are putting their best foot forward for candidates exploring new options today. According to a survey conducted by Employ, Inc at the end of 2022, the top five motivations for employees seeking a new role included:

1. Getting more money: 34.4%

2. Ability to work remotely: 21.3%

3. Career advancement: 12.6%

4. Fear of unemployment: 9.6%

5. Bad manager or culture: 8.5%

In a recent Payscale Inc report, 80% of companies surveyed plan to give raises in 2023. It’s also critical to evaluate how your company can instill stability, as well as good manager relationships, as part of your journey. Eighty-two percent of workers told GoodHire they would consider quitting their jobs because of a bad manager. Implementing a gratitude program is just one way to consistently improve relationships and ensure that your company prioritizes acknowledgment of each employee’s work. 

Questions employers can ask: Is your company strong in these areas? Should you explore programs and policies in support of compensation, remote work, and career pathways for employees and new talent? These are just a few elements that might need to be revisited in your journey to a stronger EVP.

Step 2 — Understand which employee motivations your company can meet 

Over the last two years, Chris Mulhall of Motivators.io has partnered with many transformational individuals and business leaders. In both cases, two overlapping themes have emerged: 

1. Individuals are reevaluating what motivates them to stay at work

2. Companies are ready to invest in those motivators but don't know where to start 

It’s important for employers to understand where they can meet the growing needs of strong talent in today’s labor market. A lot of that intel can also be gathered from within. “Organizations that expect to be impacted by a recession are more likely to be cautious with pay increases, and budgets for pay increases may continue to change as the economy shifts,” says Amy Stewart, associate director of content and editorial at Payscale. Every company is different and needs to focus on which motivators they can play to and appeal to in their unique value proposition.

One way could be to feature a unique set of benefits or perks your company has implemented to stand out. Nearly half (45%) of non-office workers would like flexible schedules to be able to get fit. Think of how your company can support employees’ new needs.

Learning and development is another key motivator that talent today hopes to see from employers. In fact, 74% of surveyed employees said they aren’t reaching their full potential due to a lack of development opportunities, and 76% say that a company would be more appealing to them if it offered additional skills training to its staff. And an impressive 87% of millennials rate “professional or career growth and development opportunities” as important to them on the job — far more than the 69% of non-millennials who say the same. 

Questions employers can ask: What unique features and benefits can you provide and feature to talent looking for work and wanting to stay with your organization?
 

Step 3 — Appeal to the top employee motivations in your EVP

Once you’ve done all the research on both candidate insights and your internal strengths, the next step is figuring out how to weave in a message around those offerings. According to Chris Mulhall, you don’t need to break the bank to appeal to some of the most popular motivators. “Many of our highest scoring motivators fall under intrinsic motivation, and so companies need to support the programs and initiatives that foster a sense of fulfillment and purpose at work.” Mulhall notes that there are five intrinsic motivators that consistently rank as top motivators across jobs and industries:

1. Culture and values: This is a great place to cover workplace dynamics, commitment to company diversity, and any hierarchies or camaraderie that make your unique culture great.

2. Executive leadership: Having respect for the executive team’s competencies and behaviors. Examples include the exec team’s vision, accessibility, accountability, transparency, and communication skills. 

3. Inclusion and social connection: Diversity in the workplace is important to 67% of job seekers. Showing you are committed to inclusion as well as a place that fosters social connection to all employees is another way to stand out.

4. Meaningful work: A 2022 McKinsey research article showed that 70% of employees say their sense of purpose is defined by their work, and that when work feels meaningful — they perform better and are much more committed. 

5. Personal impact: showing how each contributor can make an impact on the company's overall growth can increase engagement and empower employees to prioritize their most important work.

Employees want to feel that they are building, innovating and making a personal impact at your company. “The intent to leave or stay in a job is only one of the things that people are questioning as part of the larger human story we are living,” says Caitlin Duffy, Research Director in Gartner’s HR practice. “You could call it the ‘Great Reflection.’….It' ’s critical to deliver value and purpose.” 

Questions employers can ask: Have you considered each of these top motivators? Can you survey existing talent to rank what’s most important to them across roles? 

Step 4 — Compare how other employers’ EVP stacks up

The last thing to do is research other companies’ EVPs to inspire more updated messaging and fodder for your own. For instance, Starbucks promises its candidates the option to join the company and become “partners in shared success.” Its EVP also highlights training and development opportunities with “limitless opportunities to make an impact and thrive.”

In the tech industry, Hubspot shows that “benefits and perks matter.” They highlight their core belief that “work and life should fit together.” One unique benefit is a sabbatical for employees after five years with the business.

Questions employers can ask: How can you differentiate yourself from your industry or talent competitors? 

Motivators can also vary by profession and industry, but ensuring you are appealing to the top motivations on a candidate's mind these days can ensure you are relevant and adapting to what employees need and are looking for in the future.

To learn more about your company’s strengths and where you might want to invest more into talent motivators to strengthen your EVP, visit https://www.motivators.io/business.