Building better talent communities in an employer-led market: How to create a strong value proposition

Building better talent communities in an employer-led market: How to create a strong value proposition

Employers are seeing an interesting change happening as workers and businesses alike battle an uncertain economic climate. With fewer positions and tightening budgets, the market is shifting from candidate-led to employer-led.

Companies who could barely find a dozen resumes several years ago are being inundated with applications as contingent workers start to change their priorities when looking for employment.

While this sounds like amazing news for one side and terrible news for the other, the reality is nuanced. Employers are finding it hard to sift through a deluge of candidates and many companies are still struggling to find skilled workers for niche positions.

The construction and manufacturing industries, for example, were hit especially hard by a skilled labor shortage in the U.S., with almost 1 million job openings nationwide in June 2023.

Regardless of the type of job market employers are facing, the solution to finding solid talent is to have a Direct Sourcing strategy with a strong employer value proposition (EVP).

Here’s what the means and how to create an employer-led value proposition:

Employer-led value props explained

Simply put, a value proposition explains a company’s value to their clients.

It’s an easy to understand statement that summarizes why a customer would choose a certain product or service.

Consider some of the most commonly known brands. You can probably already recite their value props. McDonald’s sells delicious burgers. Facebook connects people worldwide. Disney turns family vacations into magical adventures.

The same is true for a company’s in-house talent pool. Businesses with a solid value prop are more likely to attract top talent.

Value props are essential tools in the Direct Sourcing process.

As curators build talent pipelines, value props help them create brand loyalty and attract qualified candidates more easily. EVPs are an opportunity to leverage a company’s brand power while creating strong talent communities.

Value propositions should include:

Compensation and benefits
Career development opportunities
Positive company culture/values

How to create a value proposition in an employer-led market

In a market where employers have an influx of applications, it’s important to both understand the value you’re willing to bring to a worker as well as the value you’d like that worker to bring to your company.

While the process of creating a value proposition is the same in both markets, some differences you’ll find in an employer-led market versus a candidate-led one include:

Emphasis on growth opportunities. Employers are starting to focus on benefits that help both the worker and the company. This includes highlighting competitive salaries, advancement opportunities, and training programs.

Value props that cater to the top 10% of applicants. As businesses start to see more applicants, they’re beginning to work on attracting the best talent while also looking for skilled candidates with niche qualifications.

Less emphasis on work-life balance. While this used to be a significant selling point in a candidate-led market, companies are starting to focus on other benefits in their value propositions.

Building a solid value prop step by step

Step 1: Identify your company values and mission statement. This will help you understand what sets your business apart.

Step 2: Survey your current and past workers. Without an understanding of why they’re motivated to work for you, it’s difficult to convince others to do the same. TalentNet’s TalentBench solution allows Curators to easily communicate and connect with current and former workers in your company’s unique talent pool through either email or text.

Step 3: Create a candidate persona, then tailor your value prop to this type of worker. Curators can quickly review each company’s talent pool through TalentNet’s TalentNavigator platform, which uses generative AI to support the hiring process. Users can ask any type of candidate question and receive a list of answers taken from worker profiles, reducing time spent on this process.

Step 4: Create your message and share it with the team. This will give you the chance to fine-tune your offerings and see if your value prop resonates with current workers.

Step 5: Leverage your value prop. Once you’ve finalized this tool, it’s important to use it in all your talent acquisition campaigns, from social media to work boards and company websites. This will allow you to build your brand and attract the right candidates.

To properly use your EVP:

Use current talent to attract new candidates. When a candidate is interested in a position, they’ll have a variety of questions about workplace culture and growth potential. Use your current workers’ knowledge of the company through social media and other channels to reinforce your company’s value proposition.
Use social media and company websites. Social media is a great place to talk about your company’s value propositions and what makes the organization stand out. Applicants will also be checking out your website, so make sure you highlight your work culture, compensation benefits and growth opportunities here.

Building a solid talent pool

A strong value proposition is a powerful curation tool. It allows companies to create specific messaging that resonates with top talent.

TalentNet’s solution makes this process easier through our intuitive platform, which lets Curators build and manage talent communities filled with qualified workers. To learn more, request a demo here.