How Technology Impacts Today’s Employee Lifecycle
A supportive and rewarding employee lifecycle is important to a successful organization. More important than ever after the economic shake-up from the pandemic, the employee experience is now seen as a key part of retaining your people. HR leaders from around the world report that the way people interact with their organization can drive innovation, individual and corporate performance, as well as company culture, according to a McKinsey survey.
For HR departments, one way to create a positive cycle of employment is the use of technology. Technology such as talent intelligence can help with cultivating the best employee experience, from hiring to onboarding and termination. Within the HR team who deploys new technology, there have been instances where these tools help provide greater value throughout an employee lifecycle. At the end of the day, technology is helping businesses become more efficient with their talent management.
The first part of the employee lifecycle is hiring. This step of the cycle sets the tone for how an employee views the business. Traditionally, when businesses wanted to hire people, they relied on word of mouth or advertisements. Companies still use those methods today but have augmented them with talent intelligence to hire more accurately, efficiently, and fairly.
Social media, e-recruitment software, and online job boards are a few of the recruiting technology options available to businesses that are looking for new team members. Organizations can use social media sites such as LinkedIn or Facebook to share open positions, along with the use of online job boards.
Applicant tracking systems are helpful for streamlining the recruitment process. The technology has helped alleviate some burdens on HR teams. It helps with communicating and processing candidates for a time-effective approach. It’s also effective for reviewing candidate information. One report from Capterra found that 94% of recruiters and talent managers who use applicant tracking software say it has improved processes.
Once a candidate has been selected to join the company, it’s time to begin the onboarding process. Recruiting and company review platform Glassdoor has found that a strong onboarding process can improve employee retention by 82%. Technology can simplify onboarding tasks such as emailing paperwork or conducting training seminars via videoconference.
In some instances, new hiring processes have become completely virtual. This has helped businesses reduce time spent training while also saving money. Additionally, being able to train people virtually is useful in today’s market where more companies are implementing remote work policies. However, some leaders and new hires say this method loses the ability to add personal touches. Whichever option a company selects, HR teams will still be implementing some technology to assist with onboarding.
Once an individual has joined the company or has been onboard for a time, they need to be periodically recognized for their work and dedication. Acknowledgement of an employee’s efforts and achievements are key for continued motivation and retention. Promotions, awards, and salary increases are all ways of keeping employees satisfied. They’re also indications of progress by individuals.
Marking these achievements in the employee’s life cycle also aids with measuring the extent of their productivity. For companies that build goals for their employees, this information is helpful for noting progress. This is where a human capital management system is helpful for recording and tracking an individual’s performance. These systems can also be used as a tool for HR teams to notify employees of their progress or as a place to communicate with individuals who need help.
Some companies tie promotions or raises to when an employee meets a new threshold of organization objectives. Calendar or email reminders can help HR teams recall when these objectives are due or when an employee should complete their respective goal. Automated emails are another way to send appreciation to employees, which can go a long way in boosting morale.
The end of an employee’s life cycle is marked by their termination of employment. Whether it’s retirement or resignation, when an employee leaves a company, an HR team needs to handle the situation delicately. Making the offboarding process as smooth as onboarding can be crucial for contributing to employee experience in a positive way. Employees will share their experiences, and the impression a business leaves will have an impact.
Like onboarding, some companies have started using portals containing all vital paperwork such as last paycheck, healthcare expiration, and other information. Other businesses use a virtual checklist for ensuring that all company property is returned and access to vital data is secured. Even though it sounds easy to let someone go, in the moment, it can help to have a checklist handy for leadership or individuals overseeing the exit process.
Employees are the backbone to all businesses. In order to assist with a healthy employee life cycle, HR departments should use talent intelligence to create the best experience possible for individuals. When properly used, technology is another impactful tool for HR to enhance the employee experience.