| Employer of Choice | The best employers to work for are those providing leadership, communication, respect and responsibility for their employees, according to a recent study conducted jointly by the Australian Graduate School of Management (AGSM) and Hewitt Associates.The Best Employers to Work for in Australia 2001 study was based around a survey of 160 Australian companies and 25,000 of their employees. The basis of the survey was a people practices inventory from each company, which set out its HR practices. Other aspects of the survey were an employee opinion survey and a questionnaire completed by the CEO. The findings indicated that the qualities needed by an excellent employer were the following: * Good relationships with co-workers — because the ‘best employers’ retain their talent better. * Commitment to the organisation's business success — because people who work for best employers let others know about it. The study also found that becoming a ‘best employer’ has tangible benefits for a company’s bottom line. 

On average, the ‘best employers’ receive five job applications for every 2.8 received by other employers; the average staff turnover is around 15 percent compared to 20 percent; share prices tend to be higher than for other companies in the same sector; average revenue growth between 1998 and 2000 was 48 percent versus 25 percent for others, and profit growth was 62 percent versus 18 percent. 

All of this requires a long-term investment of five to seven years of constant effort on behalf of the employer. 

According to Andrew Bell from Hewitt Associates, there are four main elements that make up a ‘Best Employer’: "Best employers excel in people leadership, they create a compelling employment offer for employees, they accelerate development of their people, and culture and values are viewed as critically important." 

Being named one