What Is The Employee Lifecycle?Every employee goes through a series of stages from the day they apply for a job right through to the day they leave. It’s a proven model applied by HR teams around the world known as the employee lifecycle. It’s typically broken down into 5 clear stages:
Recruitment – this includes all the steps which lead to hiring a new employee.
Onboarding – once a new hire starts, this stage is where they get up to speed with the tools, systems and processes as well as get to grips with expectations in the role.
Development – an ongoing stage in an employee’s lifecycle, with individual employees developing at different rates and across a variety of competencies.
Retention – at this stage, employees are fully ramped and integrated into the company and the goal is then to keep them performing, developing and contributing to the company’s success.
Exit – the final stage of the lifecycle, employees can leave for a whole host of reasons.
The Metrics That Matter at Every StageAt different stages in the lifecycle, different KPIs are used to monitor and improve the experience as well as link your initiatives and improvements back to the business’ operational metrics, including:
Recruitment – Time to hire, Offer acceptance rate, Quality of Hire, Cost to hire
Onboarding – Ramp time, New hire engagement, Training effectiveness
Development – Productivity, 360 feedback, Promotion rates
Retention – Employee engagement, Attrition rate
Optimizing Your HR KPIs Through Lifecycle FeedbackThe various KPIs at every stage in the lifecycle are how you demonstrate value to leadership and make the link between your HR initiatives and the core financial or operational metrics of the organization. But how do you improve the KPIs at each stage? The answer lies in collecting employee feedback at every stage and analyzing it as a holistic data set. This allows you to map out the experience for employees from interview to exit and identify the relationships between the different activities at each stage. Here are some of the most common feedback mechanisms we see at different stages: Recruitment
Candidate reaction surveys
New hire engagement surveys
360 development feedback