What is the Employee Life Cycle?
The employee life cycle is the process of recruiting, onboarding, and managing employees over time. It's critical to your company's success because each phase of this cycle has a significant impact on the next one.
An explanation of the employee life cycle
Employee life cycle means that you need to find a new employee for your team, bring them into the company and train them in their new roles. As they become part of the company culture, develop their skills by providing learning opportunities. Finally, keep them happy, so they want to stay with your organization over time to ensure a high employee retention!
Employee life cycle metrics
There are several metrics that you can use to measure each phase of the employee life cycle.
For example, during recruiting, you'll want to determine your hiring success rate and average time-to-fill for employee onboarding, track orientation completion rates, and how many employees drop off after their first week on the job. Finally, study exit surveys with honest feedback in order to pinpoint why employees leave (and what actions they can take to prevent it). Throughout this process, remember not just to optimize these metrics individually but also look at how they affect one another!
Trends in the employee life cycle
According to research, the average employee turnover is decreasing over time.
This means that new hires are staying with their companies for less time than they used to, thus creating gaps in your company's workforce. Fortunately, there are some ways you can help keep your staff members loyal - like offering learning opportunities and professional development!
Using HR technology to manage the employee life cycle
Many human resources software programs can help your company with the employee life cycle.
For example, you might use automated recruitment and onboarding to speed up these processes and create a more engaging candidate experience. On top of this, you could conduct exit interviews through an app on employees' smartphones in order to get employee feedback about what's working well for them at work or where they see opportunities for growth within the organization. Overall, using technology will save time when managing each step of the employee journey!
Why is it important?
The importance of understanding how the employee life cycle works is critical because having happy staff members leads to retention rates that benefit both employees and employers alike. It's important to use HR technology that can help you implement the employee life cycle. The best way is by automating your recruiting process, so you can save time and money while attracting top talent in less time. Another great feature of automated software systems is applicant tracking, making it easier to manage applications quickly!
Why is the Employee Life Cycle Important?
If done correctly with comprehensive measuring capabilities, then having an employee life cycle will be beneficial for HR professionals because it provides them with actionable insights about current employees.