How an employee value proposition (EVP) can show talent the true value of your firm

Whether you are looking to hire one employee or twenty, finding talent can be a challenge. Talented people want more than a paycheck from their job. While important, money alone isn't enough to attract and retain brilliant, enthusiastic, and hardworking people. Your employees should know you care about their well-being and that the benefits you offer can help them be their best—at work and at home. It's important for them to embrace your firm's purpose and recognize that the work they're doing is meaningful and impactful.

An employee value proposition (EVP) is the currency firms use to hire, motivate, and retain top talent. It's an effective tool that can help you articulate what makes your firm special to potential and current employees. It outlines the unique value your firm offers and is an effective way to communicate your culture, values, and benefits. The considerable value of an EVP is a big reason why 53% of Top Performing Firms have one.¹ It's also a key driver for growth and sustainability because it enables firms to hire and retain talent that can help them realize their vision for the future.

What exactly is an EVP?

An EVP explains what a firm offers its employees in return for the skills, knowledge, and experiences they bring to the firm. The power of an EVP is that you put it down on paper. You summarize what's expected at work—both broadly for all employees and specifically for certain positions—and share what they can expect from your firm.

But an EVP shouldn't be strictly transactional. A compelling EVP offers an opportunity to proclaim your firm's core values, showcase your intentional culture, and reveal the spirit behind your employee benefits. To bring in top talent, you need to demonstrate that you truly care about what matters to them. You need to show them that you care about what's important to them.

Defining what you offer

Talented people know they have a lot to offer, so be clear about what your firm brings to the table. What sets your firm apart from the competition? What makes your firm enticing to join and stay with for the long haul?

A strong EVP typically explains:

• How your work is meaningful
  We all want to enjoy coming to work. Good people and a positive team environment are a great start, but it’s also about the mission of your firm. Are employees only here to make money for themselves and their clients, or is there a higher purpose to their work that inspires and motivates them to show up every day?
• Firm values
  Values play a key role in an EVP. When potential employees recognize that a company shares their values, they are more likely to want to join. This connection fosters a sense of belonging and reassures them that their work is making an impact.
• Commitment to inclusion
  Inclusion creates a sense of belonging that can foster high degrees of engagement, productivity, and innovation. Prospective talent wants to know that you're committed to a fair workplace that supports each person's individuality and creates pathways for their success.
• Professional development for advancing
  Professional development is a win-win. You prepare employees to step up when you need them, and they gain skills that can help them pursue their individual goals.
• Financial rewards beyond base salary
  Compensation remains what candidates value most. However, bonuses, incentives, and other financial rewards can help everyone feel they're seeing results from their hard work, and when linked to business goals, can help motivate employees and drive firm performance.
• Equity ownership opportunities
  Having a sense of ownership is a powerful motivator and can bond people to you and the work of your firm. Offering equity ownership to top employees can give them a good reason to help you continue to grow your firm.
• Traditional and nontraditional benefits
  Robust health coverage and a generous retirement plan are table stakes. Can you offer remote work or schedule flexibility? Health and wellness benefits to promote holistic well-being? Parental leave? Gym memberships? And don't overlook little perks like office snacks or team swag.

Setting expectations

An EVP is also your opportunity to be clear about who is and isn't the right fit for your firm. While each job description will call for different skills and experience, what's universal is culture. How do you want employees to approach their work? Who is your model employee?

How you define culture might include your unique take on:

• Values and beliefs
• Approach to client service
• Relationship building
• Communication expectations
• Creativity
• Accountability
• Inclusion

It's okay to outline a culture and mindset that's not for everyone. In fact, doing so helps differentiate your firm from the many other options job seekers might consider. Be honest in your description so that you attract candidates who are genuinely aligned with your culture.

Communicating and embodying your values

An EVP that goes unseen won't help you attract or retain talent. Sharing it widely not only helps draw in the right people but also strengthens the culture you're creating. Equally important is living your values and weaving them into every part of the employee and client experience to ensure authenticity.

Places where you can share your EVP:

• On the walls of your office
• In team meetings
• On the "About" page of your firm's website
• In your firm's social media profiles
• In job descriptions
• At recruitment events
• Anywhere job seekers might be looking for a firm like yours

People are your most important asset

An EVP gives you the opportunity to show that your firm is unique—a place where talented people come tougher to build something special. What's more, research shows a strong correlation between employee retention and firm performance. By investing in and developing their staff, Top Performing Firms¹ saw lower staff attrition, at the median, compared with all other firms in 2024, according to Schwab's 2025 RIA Benchmarking Study.

In short, an EVP goes beyond talent management; it could be a key ingredient in your firm's enduring success.

What you can do next

• Visit our Talent Resource Center for useful insights and actionable tools to evolve your talent strategy.
• Consider a custodian that invests in your success. If you're thinking about becoming an independent advisor, contact us to learn more about the benefits of a custodial relationship with Schwab.