The Essential & Key Aspect in Employee Lifecyle Management - Development
Employees are your business' most important investment. While recruiting, great Talent can help ensure your company comes out on Top. Your job isn't over when a candidate signs their offer letter. In fact, it's just beginning.
The six stages of the employee lifecycle are attraction, recruitment, onboarding, development, retention & separation. Through each of these stages, it's HR's as well as management's job to ensure employees have everything they need to succeed.
In this article, we will look at the essential & key aspects of two lifecycles (Development), so you can set employees up for a successful career at your company.
Development
One of the top reasons employees quit is a lack of growth opportunities. If your employees can't find what they want at your company, they will be forced to search elsewhere. Keeping your team engaged and happy at work will increase employee retention and save you the time and money it takes to find new talent.
- Make Learning and Development A Top Priority
Start providing hires with learning and development oppurtunities on day one. A PWC study showed that millennials ranked L&D as the number one benefit an employer could offer. Conference stipends, lunch and learns, tuition reimbursements and mentorship programs are just a few ways you can encourage employees to continue growing their skills and competencies.
Practice career development over career confinement. Some managers may be afraid to offer L & D oppurtunities to Top performers in fear that they will lose talented employees. By holding employees close, you send the message that you care more about productivity than that employee's best interests. Encourage employees to pursue their interests with passion projects and cross-departmental projects so they can grow and learn if they are feeling restless in their current roles.
2. Develop Career Ladders and Frameworks
Many employees quit because they believe they are in dead-end jobs with no option for lateral or vertical movement. More than 70 percent of high-retention-risk-employees say they have to leave their company in order to advance their careers. Create detailed career ladders and frameworks to define the standard skills, transparency around the expectations for promotions and lateral career movements and help your employees set a career trajectory and establish their professional goals.
MetamorphosisPro can help the corporates in providing appropriate Training programs designed based on invidiual employee needs and business requirements, thus transforming them to contribute towards achieving company Vision & Mission.
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