Nearly all companies will experience their fair share of employees coming and going.
For that reason, businesses need to evaluate and improve their employee life cycle.
From the moment an employee learns about a company to the second they leave, there needs to be a clear plan and process. This life cycle can be broken down into nine critical stages.
In general, the employee life cycle starts before any official contact is made. This is called the attraction phase, and it’s the part of the cycle where people find out about a prospective company. For national brands, like Google or Target, there is a quick attraction because they’re already a household name. However, for smaller, lesser-known companies, attraction is a pivotal part of the employee life cycle. It’s why marketing teams devote whole portions of their budget to attract the right talent.
Recruitment is where contact begins. It’s when companies start to share information about the employee roles, company culture, and other details. Some companies use recruitment teams for this part of the employee life cycle, but others manage it internally.
Recruitment can take many forms, including posting on networking sites, interfacing with contacts, putting out help wanted ads, hosting recruitment events, attending job fairs, and more. Recruitment is simply the phase where companies are actively looking for certain types of candidates and using myriad methods to do so.
After a person is interviewed and hired, they move on to the onboarding process. This part of the employee life cycle can be particularly stressful for new employees. It’s a company’s job to ensure new hires start on the right foot and receive the right training, team introduction, and tools.
Often, the HR department and IT team collaborate to create a seamless employee onboarding experience. However, no matter who’s in charge, the goal of the onboarding process is to make it as stress-free and straightforward as possible so that the new employee gets integrated into the team with minimal hiccups.
Once the newness wears off, new hires will begin to settle into the routine of the job. At this point, it’s easy for employees to become complacent and lose engagement and excitement for their role. That’s why it’s so important for leaders to have a plan in place for connecting and keeping their people engaged during this time.
Companies can do several things to keep their employees engaged. This step is fourth in the employee life cycle, but it’s worth mentioning that employee engagement is an ongoing endeavor that requires continual thought and attention.
Some workers will want to stay in the same position, but many often hope to grow and move up within an organization. Companies need to have a plan in place for ongoing development and provide plenty of opportunities for promotions.
From giving the team member new responsibilities to providing on-the-job training, there are many ways to help an employee develop and grow.
With resignation rates hitting all-time highs, HR departments are particularly interested in this portion of the employee life cycle. Employee retention isn’t a straightforward task.
It requires companies to keep their people engaged, empowered, happy, and healthy — both physically and mentally. To do this, many companies use proven tools for retention, like Fringe’s customized lifestyle benefits platform.
With the platform, employees can choose benefits that make them feel happier and supported. Ultimately, because the company is giving their people the power to choose what they truly want and need, they’re much more likely to stay loyal and engaged for the long haul.
Employee recognition is a surefire way to improve employee happiness and dedication. In fact, most younger employees will leave a job if they don’t get enough feedback and recognition. People want to feel like their supervisors value their work.
One great way to show recognition is with extra points toward the Fringe benefit platform. Every time an employee deserves recognition, the company can give the employee extra points to use for benefits they actually want.
It’s never easy when employees leave, and companies need to have an offboarding plan in place for when they do. The offboarding period is a time when companies can gather honest feedback. It’s also a period to hand over responsibilities, provide cross-training, and prepare the final benefits and payroll.
The goal is to make the transition out of the company as smooth as it was coming into the company. Employees should leave with respect and admiration for the company rather than harboring hard feelings, so leaders should be sure to make the offboarding process as stress-free for them as possible.
9. A Fond Farewell
Once the offboarding period is complete, companies will need to do things like revoke network access and collect keys or other company assets. If the separation is amicable, a company can host a goodbye lunch or some kind of event to celebrate and honor the person’s time with the company. Having a formal goodbye party helps to keep the rest of the team in high spirits when another person leaves.
Fringe Helps Through Entire Employee Life Cycle
Whether it’s an employee that’s been a part of the team for 20 years or a new hire that started just a few months ago, Fringe’s custom benefits platform is beneficial to each and every person on a team, no matter where they are in their work journey. Fringe makes improving employee well-being easy, offering a meaningful and fun avenue for employee benefits. Chat with our team to see how it works today!