Employees are the most precious asset of any business. An enterprise’s success or failure will depend on the efficiency of its workforce. Thus, providing for, fostering, and nurturing the working professionals is the crucial responsibility of every employer. Now there are numerous means to offer an experience that is enriching via top-notch technology. The most efficient solution is core hr software. It comes in numerous types, one for each stage throughout the period of employment.
What is the definition of employee lifecycle?
The lifecycle covers the relationship between an employee and an organization in all its entirety. It includes the phase of attraction when people are still getting acquainted with the company and continues even after leaving the enterprise and becoming an alumnus. They are then called happy leavers.
There are seven stages of an employee’s lifecycle that can be distinguished. These are the attraction, recruitment, onboarding, retention, development, onboarding, and finally, happy leavers.
The way employees feel about what they encounter and observe during every stage of the employee lifecycle is called employee experience.
Why is the employee lifecycle critical to the business?
Once you have understood the employee lifecycle in every stage your employee will be going through; you will be able to optimize every stage and thus creates an optimum employee experience.
1) Recruitment and onboarding software
The initial step is to look around for and hire a potential candidate for the organization. An agent recruitment software is utilized to perform its function from posting vacancies for jobs to tracking applicants as well as shortlisting candidates and managing the tests and interviews. Currently, a majority of recruitment solutions can also provide onboarding formalities such as filing forms and performing joining customs as well as exchanging critical information with the new joiner. The initial phase of employment is thus made more refined by utilizing such software applications.
2) Attendance management software
attendance management is the process of keeping track of the hours of employees. It is the system utilized by businesses to document and track their employees’ time from the time they start working to the time day take off. Attendance management can be performed by recording employees’ hours on documents utilizing spreadsheets and punching time cards. But the most efficient means nowadays is utilizing online attendance software for your business.
The biometric information of the employee is system recorded to track their regular in and out timings and presence. This is then synchronized with time and attendance management software. The feature makes sure that employee turnout and nonattendance are accurately recorded, and fair payouts are provided every month. Additionally, early departures are also printed on the software. It mitigates the possibility of proxies. It manages holidays as well as leaves, thereby helping with payroll processing as well.
3) Learning management software
Once an employee is already part of the system and adapting to the workflow process, employees can now work towards enhancing their skills. A working professional will be joining an organization to grow financially and improve their competencies. The learning management system or LMS is primarily used for development and training. Some of its features include developing skills via courses and activities and employing metrics and reports to track performances and provide certifications on completion of trainings. Thus by utilizing LMS, employees will gain knowledge that they can implement to benefit the enterprise ultimately.
4) Payroll management software
This is the most complicated of HR operations. Payroll processing involves the remuneration of employees and needs to be precise. Because of this, the software must be efficient enough for a smooth flow of payroll administration. Whether it is time and attendance synchronization or salary calculation; a payroll system must have the capacity to do it all.
5) Performance management software
Now that the employee is already deep into the organization’s system, the time has come to begin tracking with core hr software and measuring their performance. Performance management software is the ability to assign key performance indicators or KPIs to evaluate and assess the scale and capability of every member of the team. The software is ultimately used to acknowledge these outstanding employees and provide them with rewards and appraisals based on performance reports.
An employer’s goal is to provide a high-quality employment opportunity for the workforce. An employee must be able to grow with the company since they are making a critical investment of their time, talent and skills for the growth of the company. With rapidly advancing technology, there is no room for practices that are slow and outdated. Thus, switching to appropriate HR software according to your organizational requirements is the best thing to do for your business.