If your company is struggling with high turnover, it could be advantageous for you to map out your employee journey and create an informed strategy to improve it. To do this, you can use the employee lifecycle model to create a strategy for each stage of the lifecycle.
What is the employee lifecycle?
An employee lifecycle is an HR model that maps out each stage a worker passes through as they advance in an organization and the role that HR plays in enhancing that process.
Stages of the employee lifecycle
There are five stages of the employee lifecycle:
- Recruitment: This is the process of finding the right fit for every position in your business. A part of this is appealing to potential employees by making the process as simple as possible.
- Onboarding: Onboarding is how you immerse your new hires into your company culture. In doing so, you give your new employees all the information and tools they need to complete their job successfully. By ensuring that your onboarding process is clear, simple, and concise, you can make this more enjoyable and effective for new workers.
- Development: Provide learning opportunities, attractive challenges, and incentives for employees to nurture and develop their skill set. This should be a primary priority for companies because it directly correlates with employee job satisfaction and retention, which is the next stage.
- Retention: Turnover is costly for companies! One of the best ways to avoid it is by hiring the right person for the job in the first place. However, by positively enhancing the previous three stages, you can boost employee engagement and satisfaction, which will lead to better retention rates.
- Exit: Regardless of the reasons why a worker leaves the company, it’s important that you manage the situation appropriately. Consider conducting an exit interview to gather feedback from the employee and do everything you can to ensure that the employee’s departure is not stressful for other employees.
How to visualize your employee lifecycle
To create an employee lifecycle for your business, you’ll need to compile key data first. Typically, companies use a HRIS system to gather that data, but using Paycom isn’t the only way to do this. Paycom competitors like Rippling and others can provide the same key information. In fact, many Paycom competitors can provide even more key data that will inform your strategy and empower you to develop better solutions for your team.
Before you settle, check out those Paycom competitors to see how they can help you reduce employee turnover and improve your company’s reputation.
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