It’s a good time to be in the renewables business, everyday more and more people realise that a shift in how we generate energy is needed to fight the climate crisis. Because of this, investment in the renewables sector has never been higher, with estimates showing that spending on clean energy technologies and infrastructure is on track to hit $2 trillion in 2024.
It’s safe to say that in renewables, business is booming! But this rapid growth isn’t all Sunshine and Lollipops, as the industry now faces a new challenge: finding the skilled talent to power it!
In 2020, the renewables sector employed 12 million workers, and predictions suggest this could rise to 38 million jobs by 2030 and 43 million by 2050. That’s a whopping 216% increase in the next five years alone – With the industry needing to fill 26 million jobs by 2030 it has never been more important for firms to focus on bringing in talent.
This is where Employee Value Proposition (or Employer Branding) comes into play, helping to futureproof your talent pipelines for sustainable growth. Your company’s EVP is not just a short term hiring tool, it’s the foundation for attracting, retaining, and engaging the skilled workforce needed to grow your business.
Understanding Employee Value Proposition (EVP)
What is an EVP?
Your company’s Employee Value Proposition is the mix of factors that determine how attractive a company is to potential employees, i.e., what value to employees get from working for your brand!
These Factors include:
- Compensation and Benefits: Competitive salary, health benefits, and retirement plans.
- Career Development Opportunities: Growth paths, training programs, and leadership opportunities.
- Work-Life Balance: Flexible working hours, remote work, and time-off policies.
- Company Culture: Inclusivity, teamwork, and employee engagement initiatives.
- Purpose/Mission: The organization’s societal and environmental impact, especially vital for renewables.
The Importance of a Strong EVP in the Renewable Energy Sector
While the mere fact that your firm is in the business of preventing climate disaster with renewable energy ticks the Purpose/Mission box for most potential candidates, you can’t rest on the laurels of being a company doing good…
… After all, every other company in the industry has the same mission as yours, meaning your renewables firm still needs a competitive edge to attract the top talent.
Attracting Top Industry Talent
With so many jobs to fill, the renewable energy sector is grappling with a significant talent shortage. As demand for clean energy grows, so does the need for the top engineers, scientists, and IT professionals, making a solid EVP vital to have if you want to attract the brightest minds in energy.
Companies like Ørsted and OVO have not only built reputations around sustainability and innovation, but also created strong EVP programs that appeal to purpose-driven professionals. By demonstrating your commitment to both your employees and the environment, you will create a reputation as an employer of choice for top talent.
Retaining and Engaging Employees
Retaining great employees is just as important as attracting candidates. Having a strong EVP also plays a crucial role in retaining talent; when your employees feel valued and aligned with your company’s mission, they’re more likely to stay with your company over the long term. In a fast-evolving industry like renewable energy, where innovation and expertise are essential, losing key employees at any level can be a costly setback.
Beyond just retaining staff, a well-communicated EVP will enhance employee engagement. A valued and respected employee is a motivated employee, meaning that having quality benefits and admirable values lead to increased productivity and creativity—essential drivers of innovation in the renewables sector.
Building a Strong EVP for Renewable Energy Firms
As we mentioned earlier, just by being in the renewables industry business, your team have a head start when creating an EVP for your brand (as long as you’re not Green Washing your brand), as the mission of combating climate change will positively align with the personal values of the vast majority of people.
But, having a head start doesn’t mean that you should just stop there, the race to secure talent in renewables is long and competitive, so your EVP needs to be just as competitive!
Aligning EVP with Company Mission and Values
Starting with the easy consideration, sustainability should be at the forefront of your EVP in a real way, that is backed up with proof and action. This can be done by communicating how your firm is helping to drive the green energy transition, showcasing specific ways your employees contribute to fighting climate change, and being transparent about the less ‘green’ parts of your business.
Offering Competitive Compensation and Benefits
With the competition for top talent heating up, it is essential that your firm offers competitive salaries and benefits to retain talent and attract new candidates. But remember, money isn’t anything, so you need to consider non-monetary benefits like: flexible working schemes, hybrid working models and generous annual leave policies can all be difference makers for candidates choosing their next employer.
Promoting Career Development and Continuous Learning
As the technology behind the renewables revolution evolves, so should your team’s skills. By your staff learning and development opportunities, such as certifications and training in the latest green technologies, your company shows its commitment to professional growth. Which will attract forward-thinking professionals to your company and ensure that your existing workforce is equipped to innovate in the fast-changing world of renewables.
Cultivating a Positive Work Culture
In any business, company culture is an integral part of any EVP offering, creating a workplace culture that promotes collaboration, diversity, and innovation helps your talent feel supported and engaged. Renewable energy firms that create a sense of community and purpose are more likely to build a workforce that stays engaged and motivated for the long term.
Long-Term Benefits of a Strong EVP in Renewable Energy
It’s all well and good for us to talk about how to create a strong EVP for your renewables firm, but you’ll likely be wanting to know the upside of investing your time and energy creating an EVP. Well, if you do make a push making a compelling EVP, you can expect to see:
Sustainable Talent Attraction and Retention
Having a strong EVP will ensure that your renewable energy company will continue to attract and retain top talent over time, as industry talent knows your firm is a great place to work. As the demand for clean and renewable energy grows, building a reputation as an excellent pipeline will help attract top talent and create a future-proof talent pipeline of skilled professionals flowing into your firm.
Driving Innovation and Business Growth
Attracting and retaining the right talent through a compelling EVP drives innovation. With the renewable energy industry advancing rapidly, a committed and engaged workforce is key to staying ahead of the curve. The result? A stronger, more resilient business, primed for sustainable growth.
Enhancing Company Reputation and Brand
A strong EVP also boosts your company’s reputation. In an industry where partnerships, investors, and customers are paying closer attention to sustainability credentials, having an engaged, purpose-driven workforce can enhance your employer brand, making you more attractive to all stakeholders.
In the renewable energy sector, a strong EVP is more than a recruitment tool—it’s a necessity for sustainable growth. It helps attract top talent, retain and engage employees, and drive innovation. By aligning your EVP with your company’s mission and offering competitive compensation, career growth opportunities, and a positive culture, renewable energy firms can ensure long-term success.
If your renewable energy firm is looking to strengthen its EVP and attract top talent, SR2 Clean Energy can help. As a socially responsible recruitment firm, we specialize in connecting companies with candidates who align with their values and mission. Reach out to us today to learn how we can assist in powering your company’s growth.
