How often should you refresh your EVP?

Review it annually as a health check, and refresh it properly when something material changes, such as a new strategy, a merger, a big shift in the workforce or a repositioning of the business. In practice a substantive refresh tends to land every three to five years. The logic is that the EVP must stay true to lived experience: refresh too rarely and it drifts from reality, refresh too often and you lose the consistency that builds reputation. A refresh is not automatically a rewrite, since often the core promise holds and only the evidence and expression need updating. The pitfall is rebranding the EVP for novelty's sake while the underlying experience is unchanged, which confuses audiences and wastes trust.