t’s easy to say that you have become an employer of choice. In reality,
though, being an employer of choice is a difficult--albeit measurable--status to
obtain. Here are some ways to assess how far you have come in the
employer-of-choice sweepstakes. The employer-of-choice factors are listed here
in descending order of importance.
1. "Best" list appearances. The firm currently appears on Fortune’s or Working Mother's
best places list and on more than one industry or regional
best places list.
2. Positive name recognition in target population. When asked in a survey or
focus group, people in your target professional fields know the name of your
firm 75 percent of the time, and over half of those know at least one key
positive selling point of your firm.
3. In the top three choices of top performers. When highly qualified
professionals are asked the names of places they "would like to work someday,"
over 50 percent list your firm in the top five most-often mentioned.
4. Where your applications come from. At least 10 percent of your applicants
come from the top five most profitable firms in your industry or region.
5. Often cited in MVPs. Your firm’s HR and people practices are cited at
least five times a year by name in the top three (most valuable publications)
that are read by top professionals in their field or industry.
6. Often cited. Your firm’s HR and people practices are cited by name in
major industry, business, and HR publications over 50 times a year.
7. Referral rate. Employee referrals make up over 50 percent of all hires.
8. "Other offers." Applicants with multiple offers also get a concurrent
offer from one of the top ten-rated firms in your industry at least 50 percent
of the time.
9. Give away/take away ratio. Your firm hires away more people from your top
five competitors than the competitor hires away from you (you win four out of
five of these head-to-head battles).
10. Talent competitors talk positively about you. When managers at direct
talent competitors are asked in surveys or focus groups about your firm’s
people practices, they give a positive response 25 percent of the time.
11. In top three choices of average performers. When professionals in your
industry are asked the names of places they "would like to work someday,"
over 25 percent list your firm.
12. Recruiters list you in top employers. When professional recruiters are
asked in surveys or focus groups about your firm’s people practices, they give
a positive response 50 percent of the time. When asked to list the top ten
employers of choice in your region or industry, they cite you 50 percent of the
time.
13. On "admired" list. You appear on Fortune’s "most admired firms"
list.
14. On diversity list. You appear on Fortune’s diversity list.
15. Former employees do/would return. Over 10 percent of employees who
voluntarily quit in the past three years have returned. Over 50 percent express
an interest in returning when surveyed.
16. Employees send the "same" message. When your employees are asked what
they tell strangers about "why the firm is a great place to work," over 50
percent of their answers include your top selling point.
17. Low turnover rate of top performers. The turnover rate of your top 25
percent-rated employees is below 5 percent.
18. CEO mentions people practices. Your current CEO mentions specific HR or
people practices by name in 25 percent of external and 50 percent of internal
speeches.
19. Sign-up lists. Your "sign-ups" at college information events exceed
the average by 50 percent. Your lines at job fairs are 25 percent longer than
your top direct talent competitor.
20. Web hits. You get 50 percent more Web hits on your jobs page than the
industry average.
21. Benchmarked. Fortune 500 firms from outside your industry benchmark you
(call to learn about your best practices) at least once a year.
22. Listed first in conference brochures. When presenting firms are listed in
commercial seminar brochures, your firm’s name appears in the first 25
percent.
23. Book. There has been a book written about your firm or CEO within the
last five years.
24. CEO has wide name recognition. Your current CEO has a positive name
recognition 75 percent of the time when professionals in your industry are asked
to comment in surveys or focus groups.
25. You have an EOC manager. Your HR department has a designated manager who
handles employer of choice, best-places-to-work list, and employment-branding.