From Hire to Retire – HR Technology that make a difference

The HR department manages the employee life-cycle in an organization and carries the responsibility of engaging with the employees throughout their journey in a company. Thanks to latest developments, HR teams are now able to efficiently manage the myriad stages in the hire to retire process.

Hiring

Finding and hiring employees with the right skills and talent are crucial for the success of every organization. With the help of recruitment management software including applicant tracking system, candidate engagement system, and accelerated candidate repository etc., HR teams are able to foolproof their planning, recruiting and onboarding processes.

1. Planning: High performing employees create high performing workplaces. This is why strategic workforce planning is crucial for companies. The talent acquisition team is entrusted with the task of finding, selecting, and scheduling interviews with candidates whose skills are a perfect match for the job. The planning stage involves gaining a clear understanding of the specific hiring requirements for the job role and the volume of hire.
2. Recruiting: During the recruiting stage, businesses attract talents by conducting campus interviews, job fairs, job advertisements, or through job networking sites like LinkedIn. Companies today make use of recruiting management software and applicant tracking system to parse and manage resumes, filter applications, view resume score against job descriptions and shortlist candidates who are a great match for the job. Once candidates are shortlisted the interview process begins.
3. Onboarding: This process begins when the hiring team selects the right candidate and the job offer is accepted by the new employee. The HR team helps the new hire with their digital onboarding, organizes training, takes care of payroll and benefits, and arranges for team introductions. A good HR onboarding software can make a big difference and create an invaluable experience for new hires. The software empowers new hires to complete all the formalities through the online system, eliminates the need for paperwork and can deliver a great onboarding experience.

‍Employee Management

1. Compensation: Compensation management covers salary, bonuses, commission, overtime, rewards & recognition, etc. Companies will greatly benefit from a robust rewards and recognition program as employees are highly unlikely to leave a work place that recognizes their work and compensates them accordingly. With the help of a rewards and recognition software HR departments can easily roll out such programs.
2. Engagement: Employee engagement and employee satisfaction are two different things. Engagement activities help an employee to align or connect with your company’s culture, goals, and the performance expectations of the company. Companies who wish to improve business outcomes and increase profitability must have a great employee engagement strategy in place. Employee engagement software collects employee data and provides you with detailed feedback which can be used to fine-tune your engagement strategies.
3. Development: When employees find opportunities to learn or the scope for growth, they tend to stay in their current jobs. A learning and development program that is visible and easily accessible is essential to meet the needs of employees who feel stuck in their career. Performance management software can help to create upskilling opportunities, leadership development programs, and mentoring programs that are tailor-made to meet the needs of such employees.
4. Succession:  The outcome of a succession plan directly depends on the success of your training and development strategies. The opportunities you provide can help capable employees boost their performance, be recognized for their work, as well as move up in their career. By training your high performers for senior-level jobs you will be in the position to immediately fill vacancies that become available due to retirement or separation.

Offboarding

A good offboarding process is crucial for employer branding and for keeping networking opportunities open with the exiting employee. The HR team facilitates the formal separation between the employer and the employee through a step-by-step offboarding process. The quality of this process will be a crucial factor in determining if the exiting employee will be a supporter or an antagonist of your company in the future.

1. Retirement: Employees reach this stage when they consistently perform well in the same organization for a significant number of years. Many organizations whose employees retire with them say that they were provided with growth opportunities, their work was recognized, and that they were able to maintain a great work-life balance. The main role of the HR teams would be to conduct exit interviews and arrange the benefits and compensations for the retired employee. Most importantly the HR team makes sure that the employee is recognized for their work and contributions made to the organization.
2. Resignation: An employee might resign from an organization if they don’t find enough growth opportunities, if the compensation is not satisfactory or if they no longer can identify with the culture or vision of the organization. The resignation letter is sent to the HR by the team leader or manager and the HR team must ensure that the offboarding happens without any major setbacks. A people analytics tools can help identify gaps in employee satisfaction so that companies can intervene and address employee needs in a timely manner. This can help reduce attrition rates.
3. Terminations and layoffs: Termination can be caused by a number of reasons including low performance, failure to adhere to company policies, or breach of contract. Layoff may happen due to cost cutting measures or unexpected events such as a global pandemic. Terminations and layoffs have to be handled with care as most employees may not be in a position to accept the management’s decision. The HR personal handling the termination must be both sensitive as well as resolute when breaking the news to the employee. Poor handling of the termination or layoff can directly affect your company’s reputation.

Simplify your hire to retire process with Integrum Technologies

A successful employer helps his employees and teams to perform their best. If you feel that there is a major room for improvement in your HR process, Integrum Technologies can help you fix the problem. We offer recruitment software, onboarding platform, payroll and billing as well as performance trackers to bolster your hire to retire process. Visit here to know more.