4. Career Development and Retention
Many times, the lack of development prospects is the factor that prompts employees towards different opportunities, which can be extremely detrimental for employers, especially in the case of long-tenured employees that are extremely valuable. When you receive, as early as the onboarding stage a clear path within the company’s career ladder, you will be more motivated to pursue the steps required for advancing to each new stage, until you reach full satisfaction.
A key strategy at this phase is for companies to identify your career ambitions in the onboarding stage and set milestones for achieving them. Moreover, whenever relevant, training and mentoring should be offered so as to ensure optimum results.
Even in cases of offboarding an employee, a cordial separation can leave windows open for future collaborations, as well as positive employer branding in case the employee would recommend this company to friends or family.
A key strategy would be conducting exit interviews, encouraging open and honest conversations that can make a difference. If you see that your feedback was implemented, maybe you will consider returning to the company sometime in the future.
Employee Life-Cycle Management Software
The employee lifecycle management can be viewed as a strategy that has two main components: firstly, attracting, assessing and hiring top talent, and secondly, engaging, developing and retaining excellent employees.
Technology is taking on a bigger role in nearly every profession, and that includes human resources. Employee lifecycle management software solutions can assist HR gain insights into the employee experience in all of its different stages. It should be noted, that although each stage has its own particularities, some goals are overarching – employee engagement is one of them.
Employee life-cycle management software solutions can provide your employer with dashboards and metrics painting a holistic and realistic picture of your employee life -cycle progression.
Metrics are essential not only for deeply understanding the status quo of workforce performance and well-being, but also for detecting areas requiring interventions. For example, if in a short period of time multiple employees resign, it is crucial to understand if there was a common reason driving the resignations and addressing it right away as a preventative measure.
Employee Life-Cycle in HR
An hr life-cycle assists HR personnel in ensuring that employees’ specific needs are acknowledged, and that specific actions are enacted with a final goal of employee engagement and talent retention.
However when conceptualising the employee life cycle in HR-specific objectives, we cannot omit the fact that the employee lifecycle management process is mutually beneficial. While it is true that businesses achieve increased productivity when retaining employees, you benefit as well from being part of a thriving organisation. You can get better compensation, better working conditions, as well as opportunities for upskilling and career development.
The HR operations within the employee life-cycle help to determine each employee’s path within the organisation. The employee life cycle in HR-specific objectives would ensure that talent management is perfectly aligned with the company’s business goals, so as to ensure maximised benefits.