Human Resource Management

Class 4

Employer of Choice (EOC)

A particular company becomes an employer of choice (EOC) when the company is a great place to
work, people desire to work for you, people choose to stay with you even when they are courted by
other employers. many applicants are willing to work for the employer and the employer's best talented
employees are willing to stay with the employer, and the attrition rate remains low.

Companies being a preferred company to work with to attract the best talent and being known as a
magnet employer. Being an employer of choice has its own benefits and advantages like:
 Since employees are willing to stay with you, you will have low attrition rate
 With many talented people willing to join you, you will have best talent in your organization
 Having best talent in your organization itself is a competitive advantage
 Recruitment becomes easy as you can give more importance to choosing people than attracting
them to apply for the job
 Less skilled people wont even apply for the job, thinking it is very difficult to get the job
because of competition
These are some of the reasons why most of the employers are trying to become employer of choice.
Companies also use employer branding as an important tool to reach out to prospective employees.
What also matters to employees is the way a company conducts business and upholds the values of its
brand. In a social, transparent world, the lines between a company’s consumer brand and talent value
proposition are blurring. Companies that have been termed as an EOC ensure brand resonance with all
workforce segments. An organization’s total rewards philosophy is one area where brand values can
shine: Thriving employees are four times more likely to work for a company that ensures equity in pay
and promotion decisions. Give honor to whom it’s due. Employee recognition is essential to company
culture and morale. You can recognize employees in many ways, including giving rewards for
accomplishments and time spent with the company.
Another feature is that EOCs offer perks and benefits that are attractive that the employees want to
attract and keep. While there are many lists about the top perks employees want, these don’t matter if
they don’t appeal to your workforce and company brand. Candidates – and your current employees –
are looking around to see how other companies treat their employees. To get a sense of what your
competition is doing, network with managers from other companies, look at competitors’ web pages,
and talk to employees and candidates about their observations.
Employee Value Proposition

Employee Value Proposition is an ecosystem of support, recognition, and values that an employer
provides to employees to achieve their highest potential at work.

Designing an EVP that is unique to your organization will considerably improve your talent acquisition
and retention, giving you an employer brand that has an edge over your competitors. It makes talent
management easy, even if you are trying to attract passive candidates.

An EVP acts as a key driver of talent management and talent acquisition. Therefore, consistent and
efficient communication of an employee value proposition that enhances employer branding has
become extremely important. Defining a unique employee value proposition is all about assessing the
core strengths of your organization.

This process involves identifying the different elements that come together to make your organisation
an awesome place to work.

Financial compensation may seem like the key motivator for the workforce. But, it is only a piece of
the puzzle when it comes to an employee value proposition. A benefits package works best when it's
customized to the industry, the culture, the organization, and the employees. So, feel free to get creative
with it.

For an organisation that is unable to offer salaries at par with its competitors, offering a clear career
development and growth plan can be the difference between hiring and losing quality talent.
Organizations must recognize the importance of creating a work environment in which employees
thrive and do meaningful work. This adds to positive employee experience and engagement. They must
consciously make efforts towards building and marketing such an ambiance.

Employer value proposition addresses the factors that constitute a great company culture. These include
things like:

Trust and collaboration

Positive relationships between team members across hierarchies
Team communication and support
Alignment of employees with company goals