Longing to accept English firm's alluring job? (8)

'alluring job?' is the definition.
Although both the answer and definition are present participle verbs, I don't understand how they can define each other.

'longing to accept english firm's' is the wordplay.
'longing' becomes 'dying' (dying is a kind of longing).
'to accept' indicates putting letters inside.
'english' becomes 'e' (abbreviation).
'firm' becomes 'co' (a firm is a company).
'e'+'co'='eco'
'dying' placed around 'eco' is 'DECOYING'.

Can you help me to learn more?