Insight Blog

It's funny how concepts that we have always had in business somehow end up being considered new ideas just by giving them trendy tag names. Such is the case with 'Employer of Choice' (EOC). In all fairness, there have always been companies who were known as being great places to work - known today as EOCs.

What does being an EOC mean?

In the simplest terms, an EOC means being an organization that connects with its employees on a deeper level, offers them an environment in which they feel valued and empowered, and provides them meaningful work and opportunities for professional and personal growth. Simply said, it's an organization where people want to work.

Why is being an EOC so important?

According to a Harvard Business Review (HBR) survey, 82% of senior executives reported that a company's greatest asset is its people. That leaves 18% of respondents who are completely out of touch and who, most likely, don't work for an EOC. In another survey, HBR found that 23% of respondents felt they were attracting and retaining the best talent. That's not good. Supporting this viewpoint are findings from LinkedIn's 2015 Global Trends Survey, in which 75% of recruiters reported that an employer's brand has a significant impact on hiring success. In the human resources and recruitment sectors, EOC is a common phrase and a concept that needs to be taken very seriously because the benefits of being an EOC directly correlate to an organization's:

• ability to attract, hire and retain top-tier talent

• ability to build effective and innovative teams

• increase productivity, collaboration, and engagement; and

• overall success. Seriously. 

How does your organization measure up?  

The concept of EOC is inherent to our business as an executive search firm. We realize the importance of being an EOC and the strict criteria that candidates use to evaluate prospective employers. This is especially true for senior-level talent. While compensation is certainly an issue when it comes to these professionals exploring new opportunities, it rarely weighs in as the most important factor. The principles of an EOC receive significantly more consideration. As the talent shortage worsens across most industries in this country, becoming an EOC and maintaining that reputation will be of utmost importance. In other words, if your organization hasn't paid much attention to it so far, you may want to invest time and energy into your plan for achieving it - otherwise, there may not be anything else to achieve.

Sources: Contemporary Staffing Solutions, Future Influencers, Harvard Business Review, Siemens 

*Note: Since the release of this blog, our posts on recruitment were noticed by Cleverism, a leading educational website. If you're involved in recruitment, don't miss their article From Good to Great: How to Become a Badass Recruiter. We highly recommend it!