Employee life cycle refers to a kind of HR model that recognizes the different stages during which an employee works in an organization. It also helps them to keep track of an employee’s life cycle. This is because it depicts the steps that an individual goes through while working in a company.
Certain parts of the employee life cycle model overlap with the responsibilities of HR. This involves the use of software that manages talent. It also includes things that help attract remote work talents. This is why it is also termed the HR cycle at times.
Why is the employee life cycle so important?
Planning and reviewing the stages of the employee life cycle will help your company make employees' experience better. This will benefit the employees and the business through productive employees and enhance the loyalty of customers.
Retention and recruitment act as employee engagement best practices. Proper management of the process of recruitment will help to save the company as well. The recruitment cost, therefore, has to be higher.
Training of the new employees will further be comparatively more expensive. However, when you consider the expertise they can gather and the benefits to retain employees, it will make the training valuable. This is why the employee life cycle is so important for the future of a company.
What are the stages of the employee life cycle?
Check out the different stages of the employee life cycle here.
1. Attraction of employees
This forms the primary step to attract employees. You will not be able to strengthen your company if you cannot attract other employees. Hence, it becomes one of the most crucial aspects of a company's growth strategy and in an employee life cycle.
The stage where you attract employees comes before the stage of having an open position in the company. Your company’s ability to attract employees will determine why organizational culture is important. Your company, therefore, has to come together and build an attraction for new employees in the following ways:
Raising your brand awareness
Your managers must organize seminars and conferences where they can speak about the benefits that come with joining the company. This will be the foremost step that needs to be taken for starting the employee life cycle process.
Representing a better work culture
Employers must create marketing tactics by promoting a better work culture. In this step, you must encourage your employees to spread the word about what benefits new employees can avail of after joining your company.
Offering compensation and benefits
You need to offer employees certain benefits and compensation in the form of off days on birthdays and other special occasions as well as team lunches or company events. Besides, you need to create an image where your company offers its employees the standard rate of payment.
2. Recruiting employees
This is the second stage of an employee’s life cycle. During this time, your company will have to extend its borders and seek out the best talents for your organization. The best kinds of plans for recruitment involve the optimum experience of the candidate, providing meaningful data, and collaborative hiring.
For this process, you can follow these steps.
Involving your employees
Involving your employees is another way to understand the importance of the employee life cycle. In this step, you can ask your existing employees to assess each candidate's qualifications to see whether they will be valuable for your company.
Having a clear vision of what your company needs at present will help you recruit employees accordingly and efficiently. You also need to be specific regarding what your company has to offer so as to attract top and relevant talents and skills.
Trying recruitment platforms
You can try different recruitment platforms. This will enable you to find employees who will be worth your company’s time and money.
Asking for referrals from your existing team
You can ask your present team to reach out to their acquaintances, family, and friends. This will help your company to discover new talents and open new avenues for itself.
While you create your remote employee onboarding checklist, you have to make sure that they become well-adjusted to their work environment. Expectations from new employees also need to be made clear at this stage. For this, you have to make a job description, discuss the values and mission of your company and what exactly is expected from the employee during the course of employment.
Lastly, you have to check in on them regularly during their training period to understand how well their managing themselves in your company.
Development of employees
You must encourage the constant professional development of your employees. This will bring long-term benefits for your company. It will further enhance the development of some of their existing skills which in turn will be fruitful for your company.
The development of employees can be in the form of external learning. It can also help them tap into their skills and knowledge at the same time. They can also have more autonomy for working towards their development. In addition, this can become one of the ways to motivate employees.
You can retain employees by cultivating a good relationship with all of your team members. Moreover, you can also create feedback forms for your employees to have a space to communicate their needs effectively. This will help in boosting their morale and create a healthy working environment.
Do not be disheartened when an employee resigns from your company. On the contrary, you can try asking them how you can work towards creating a better work environment. Maintaining a positive relationship with them will also encourage them to refer more people to your company.
As portrayed above, the employee life cycle involves various stages of attracting, retaining, onboarding, developing, and separating employees. Regardless of the stage, always try to build a better work environment and maintain a positive relationship with your employees.
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