The life cycle begins when an employee learns about a company, job opportunity & career growth, at the time of their on boarding, and finally extends to their exit and post-employment experience.
Depending on your company’s size, the type of employees you employ and your industry type, the steps in your employee life cycle will vary. However, the overall path from hire to retirement is needed to design well regardless of the work being done.
- Measuring employee life cycle metrics can help you understand if your business is moving in the right direction.
- Examining the intricacies of each stage, like the employee experience, on boarding procedure and engagement activities, can lead to more productive, happier employees.
- Low turnover can save on hiring expenses while helping to retain top performers and their expertise.
Managing the Employee Life Cycle With HR Technology
Technology is taking on a bigger role in nearly every profession, and that includes human resources. With leading HR systems in place, you can easily view dashboards that give you a holistic perspective on employee life cycle metrics. HR dashboards and team scorecards can give you insights on your employee life cycle in just a few clicks.
A human resources management system (HRMS) can provide many of these insights in one place. Using key performance indicators (KPIs) and dashboards, HR leaders can spot any signs of trouble and then come up with ways to address them quickly, and managers can publicly recognize members of their team for exceptional work.
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