An employer or employer’s business which attracts the attention of huge amount of prospective employees for a job in their organization.
The attracting factors for them may be any of the following:
• Cultural framework
• Sector of business
• Location of business
• Growth of business
• Overall job satisfaction
• Work life balance
• Ethical policies
• Payment structure
• Career development opportunities it provide
• Encouraging entrepreneurship
• Promoting Innovation
Employees may be attracted towards any of these factors and this might make them to compromise on other factors, for one it may be an attractive pay structure and for other it may be the career growth. So all these factors and needs varies from employers to employers and employees to employees.
Magnet employers has the advantage of getting the best employees with minimal effort of hunting them or seeking for them in the market. They don’t have to market for their business and company to attract the employees and they don’t even require employment agencies to work for them of searching and getting the best employees.
They also have the better negotiation power compared to other companies as their system possess some special attracting factor for which the employee would compromise to get a job in there