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Staff turnover these days is sky high and spending money to train someone up only for them to take all that knowledge and skill elsewhere is… not nice. But how can you avoid it?
The answer is improved retention. If no one is leaving, you don’t have to hire unless your business is growing. But improving retention is easier said than done. Reward them with long service leave, encourage them to use all their leave, and prioritize their wellbeing.
People leave for all sorts of reasons, and these vary at different stages of their employment ‘life cycle’. To avoid getting your head in a spin, break it down by stage and think about what actions you can take at different points to make people want to stay.
What is the Employee Life Cycle?
Employee life cycle is a term used to describe the stages that an employee goes through during their time with a company, typically:
- Attraction
- Recruitment
- Onboarding
- Retention
- Development
- Separation
- Advocacy
For maximum retention, you don’t want to let your prize team members get to stage six. This means your retention efforts should be focused on the first five stages in the life cycle.
We’re talking about getting someone to commit to your company long-term. If we compare it to dating, we’re not interested in a casual fling – we’re looking for marriage material.
Attraction
The first step to retention is attraction – you need to appeal to the top talent with a great first impression. You’re setting out your wares, shouting about what you’ve got to offer and why you’re such a catch.
You’re looking through (LinkedIn) profiles, trying to find a good fit – someone who shares your values and goals for the future.
You line up a few promising prospects and if all goes well, you’ll match. For many candidates, this will be the first time they’re exposed to your brand or company.
You need to be consistently working on your reputation as an employer – looking at your culture, what you offer your staff and how you’re perceived in your industry. Think about what candidates want from an employer and make sure you measure up.
Recruitment
The process of recruiting an employee is when they will form their first impression of you as an employer, rather than just as a company. The number one priority should be communication.
Don’t leave people waiting around, wondering if you’ll call. If you’re enthusiastic about hiring them, show it. Be clear about the specific skills and qualifications you’re looking for.
You might be facing some stiff competition, so be sure to shout about perks and benefits to get the edge over your rivals.
Onboarding
You’ve avoided the dreaded friend zone, contracts are signed and you’re now ‘official. You’re on best behaviour and keen to show them they’ve made the right choice.
Encourage team members to give a warm welcome – you want people to feel quickly at home and at ease.
These early months are about sharing your company values and providing information.
Talk about the work, the people, the goals of the organisation and their role in achieving these. This creates both excitement about the future, and a feeling of inclusion and security.
Retention & Development
We’re well and truly out of the honeymoon phase now, and this is where the hard work starts. Maybe a rival is making tempting offers, or you’ve had your first row.
You might have had your head turned by more recent hires, important clients or projects, and they want to know you still care. This is where you need to show your commitment and paint a picture of a long and happy future together.
Employees at this stage are motivated by rewards and recognition. It takes continuous effort to embed someone in a work culture and get to know people on a deeper level.
These stages are all about relationship-building, and you need to invest (time and money) in their ongoing professional development.
Don’t just dangle potential promotions, set a clear path and timeline. Reward them with long service leave, encourage them to use all their leave, and prioritize their wellbeing.
Leveraging absence management software ensures leave planning and tracking are seamless, preventing any bottlenecks or confusion that could lead to dissatisfaction.. Whatever you do, don’t give them a reason to leave.
Separation & Advocacy
This wasn’t the plan, but if you do find yourself here – be cool. You don’t want to be the bitter ex. If someone asks, you want them to say they had a great time, you’re wonderful, it just wasn’t the right fit/time.
Whatever the reason for the separation, you shouldn’t end an employment relationship on a sour note so try to provide a positive experience even when the end is inevitable.
How you handle offboarding is important because, while you can’t retain that particular employee, this process will be visible to others – both existing and prospective new employees.
If you get the previous steps right and have both happy employees and happy leavers, you’ll have advocates for life.
They’ll be singing your praises, setting you up with their friends and, who knows, maybe they’ll come back around…
Key takeaways
Use the employee life cycle model to win people over at every point of your relationship journey.
It’s similar to mapping out a customer journey or experience: it’s about knowing who they are and what they want to get out of their employment, and then making sure you’re there and providing value at each crucial touchpoint.
If you play your cards right, you might just persuade them to delete their Tinder (LinkedIn) profile altogether and say, “I do (want that promotion).”