Keeping new employees engaged is critical to ensuring a productive long-term employment relationship. It also ensures lower costs associated with employee turnover. However, globally, only 20% of employees declare themselves as engaged at work, according to Gallup. 71% more American employees are disengaged in 2021 than in 2020, according to the Achievers Workforce Institute.
Engagement and talent retention are extremely important for any company. The longer the employee lifecycle, the more productive and valuable the employee is as an asset to the organisation. Recognising an employee’s accomplishments is key for companies for demonstrating how much they value their employee’s commitment to the company.
The Employee Life Cycle in HR Practice
The term employee life cycle refers to an employee’s journey with the company. It starts the moment of applying for a job position through employment and the termination process. Thus, this employee journey is composed of multiple stages with specific elements and objectives.
As you pass through the various phases of your employee life cycle, in HR practice, different activities and techniques apply. Their overall objective is retaining your talent and skills within the organisation.
Strong employee life cycle HR management processes at your company are key to attracting and retaining top talent. They will differentiate your company from the competition.
In order to better understand how HR professionals manage your total employee experience at the company, we will distinguish between the main stages of the employee life cycle in HR.
The 5 Main Stages of the Human Resource Life Cycle
A well designed, executed and managed life cycle of HR can ensure that the right employees are in the right roles. Moreover, it ensures that you feel engaged with the company, satisfied with your work and productive. All 5 stages of the Human Resource Life Cycle play an important role in the overall employee experience.
Thus, we need to pay attention to each of the 5 stages of the human resource life cycle. As such, we have highlighted below the five core hr life cycle stages. We have included key data illustrating why each stage is important for the overall employee experience.
Stage 1: Talent Attraction & Recruitment
Nearly 7 in 10 (69%) of companies have reported talent shortages and difficulty hiring. This is a 15-year high, according to a ManpowerGroup survey carried across all industry sectors.
Hence, given that it is becoming more and more difficult to hire the right employee for the job, talent attraction is a key element in any HR life cycle journey.
Talent retention starts with how the company presents itself in its official communication and job postings. Moreover, the interactions between potential candidates and talent acquisition staff are crucial.
The recruitment phase starts the moment the candidate submits a job application. If it is successful, it concludes with an employment offer and a signed employment contract.
Recruitment is crucial for setting the right tone for the employment. It is really important for the future employee to fully grasp the details and requirements of the job. This will ensure a running start at the job.
Stage 2: Pre & Onboarding Processes
The Pre and Onboarding stages of an employee cycle can often be a make-or-break moment. It can affect the future possibilities of the employer-employee relationship.
A successful and long term HR life cycle must start with an effective HR onboarding. Pre & Onboarding processes offer an imprinting window for employees. They provide the perfect opportunities for creating a positive first impression that stays with you for your entire career within that particular company.
A survey carried out by The Wynhurst Group found that 58% of employees are more likely to stay for more than three years in a job when experiencing good Pre & Onboarding processes.
For the overwhelming majority of surveyed employees, 90%, it only takes 6 months on the job in order to if to stay with that employer.
Thus, we can safely conclude that Pre & Onboarding lay the foundation for a long fruitful relationship. These processes should have both a formal and an informal dimension. The focus is not exclusively on gaining productivity, but also ensuring you of a human connection with your team. Moreover, gaining an understanding of the company culture and values is also key.
If onboarding has been effectively implemented, you will feel like you have undergone a smooth transition. You will also feel that you have been supported along the way and that your needs and expectations have been properly accommodated. Effective onboarding will lay the foundation for employee engagement.