Employee Life Cycle refers to the Human Resource
Employee Life Cycle refers to the Human Resource Model that comprises of different stages of workers in an organization. The HR plays a vital role in managing the Employee Life Cycle Management System.
Why Employee Life Cycle Management System Is Important?
Employee Life Cycle Management System plays a significant role in managing the same with ease. With the evolution the technology, Employee Life Cycle Management helps to reduce the load in an effective and efficient manner with an amalgamation of a vast range of tools to synchronize and coordinate talented human capital of any business. ELC refers to as an HR Model that trace the employees’ improvement in terms of a career within an organization. ELC Model helps companies throughout the life chain of an employee in an organization right from the recruitment till their retirement, exit or termination. ELC Models also assists in easy and quick management, conversion of resumes into different file formats and comes with easy storage, reporting analysis module. Employee Life Cycle Management System can be easily incorporated with business communication tools such as Outlook, ERPs, Biometric machines etc which helps in the smooth flow of information,As the ELC management system manages all the aspects of employees’ recruitment, growth till their exit, it comprises of 5 different stages:
1. Recruit: It is the first stage in the ELC model is acquisition and sourcing the best talent for the organization. It helps in processing hiring requests, organizing referrals or candidates from Consultancies. Most of ELC Systems come with the Interview Management, Application Tracking and Feedback Management feature With the Employee Life Cycle Management System, the recruitment process can be easily managed and computerized.
2. Onboard: At this stage, when an employee joins the organization, ELC Management System makes it easy for the joinees to take care of what next. With the help of ELC system, new joinees can access your custom onboarding documentation, policies, organization culture. Employees can also fill up necessary form, upload their required documents with their e-signatures.
3. Develop :With the use of the Employee Life Cycle Management System, it's very simple to measure the performance of the respective employees. It enables multi-phase and 360-degree assessment. As development is a continuous process, ELC management system helps out the recognizing employee strength and the areas where improvement is required.
4. Retain : After investing a lot of time and efforts in training, coaching and developing the employee with the proper understanding of their roles in the market, no organization wants to lose their human assets to their competition. After constant evaluation, training and recognition, rewards are the key to retain employees. Employee Life Cycle Management System comes up with an effective policy for promotions, an increment in total compensation package and also strategies for the career path.
5. Offboard :Employees can leave the organization because of better opportunities, new career goals or due to personal reasons. ELC management system helps in executing the exit formalities of the individual in a systematic and automatic manner. Also with a systematic analysis through the Employee Life Cycle Management System organizations can learn how your employees perceive you and help to retain your employees in the future.
As employees are considered the most valuable assets for any organization, Employee Life Cycle Management System serves as a strategic HR tool and includes multiple subsets. These subsets help in the different stages of employees in the organization and assists organizations in managing the human capital from the Recruitment till Relieving and achieve the data to analyze that leads to improvement in HR processes. Humanwaretechnologies as a leading HRMS company provides EMC management solutions.