Model reportedly knocks place of employment (7)
I believe the answer is:
waxwork
'model' is the definition.
(thesaurus)
'reportedly knocks place of employment' is the wordplay.
'reportedly' shows a homophone (sound like).
'knocks' becomes 'whacks' ('whack' can be a synonym of 'knock').
'place of employment' becomes 'work' (place of work).
'whacks' sounds like 'wax'.
'wax'+'work'='WAXWORK'
(Other definitions for waxwork that I've seen before include "Life-sized representation of a celebrity" , "Figure made from candle material" , "Image" , "Still representation of a famous person" , "Candle material effigy" .)