Employer of Choice 2017
Every year, nearly 20% of workers globally change jobs. This turnover can be significantly higher or lower depending on a range of factors. Every HR professional knows that an unhealthy level of turnover is costly to the business, and most will do whatever they can to halt the exodus. A key way to do this is by aspiring to gain external acknowledgement and verification as a leading employer.
When a fresh high-performing graduate emerges bright-eyed into the business world and is presented with three employment offers, all from reputable organisations, what makes them pick one over the other? Or in a related but different scenario, why do some organisations benefit from consistently high engagement rates year after year? There is of course no one answer – but a reputation as an Employer of Choice can help.
Companies vying for the title of Employer of Choice represent a range of industries, from banking to health, hospitality, telecommunications, pharmaceuticals, professional services and more. The relationship between employee and employer is undergoing more change today than it has since perhaps the Industrial Revolution. Business models and socio-demographics are being forced to shift, and sadly many organisations are not keeping up. As Mercer’s 2017 Global Talent Trends Study suggests, “organisations are still taking an evolutionary approach to their talent strategies in the face of revolutionary changes”.
An age-old adage seems appropriate: “Shoot for the moon and if you miss you’ll still be among the stars.” The survey found that while job responsibilities, pay and promotion are fundamentals, it’s how we work that needs to keep pace – and that means access to the right technology and workplace flexibility.
Over the following pages, HRD is proud to present a handful of companies that are consistently aiming for the moon.
Date of survey: July–August 2017
Method: Online survey
Number of respondents: 103 companies
Employer of Choice status was determined by asking HR leaders to provide qualitative and quantitative evidence of performance across nine key areas. Strength in multiple key areas resulted in Gold, Silver and Bronze medals being awarded in two company-size categories. In addition, four employers were identified as ‘top performers’ in each key area. These areas include:
• Learning & development
• Career progression
• Diversity & inclusion
• Access to technology
• Work-life balance
• Health & wellbeing
• Reward & recognition
HR leaders were also asked to provide key statistics around staff tenure, employee turnover rate, and employee engagement level, which have also been taken into consideration when awarding Employer of Choice status.