In light of social and economic changes, the current workforce has undergone a major shift in values, expectations, and tolerance. The employee of just 5 years ago is very different than the employee of today. This new breed – the Emergent Employee – crosses all ages, races, genders, and geographies, and is revelation that is quickly changing the way organizations attract, develop, manage, and retain top talent. To be successful, companies must understand and adapt to the new, Emerging Workforce.
Retensa’s Emergent (Employee) Life Cycle (ELC) is an organizational model that frames the employee-firm relationship in eight (8) chronological stages from pre-recruitment to post-separation. The ELC allows companies to address the different needs, wants, and expectations of employees at each stage of the relationship. With the right tools and continuous feedback across the employee life cycle, companies can develop strategies to successfully retain and manage their talent.
Managing the employee that has been with you for 10 days should be very different than the employee with you for 10 years. However, Employee Life Cycles are happening in your organization every day – they are happening whether you manage them or not.
By applying this model, you can measure overall organizational effectiveness, manage a workforce to increase performance, and maximize savings on the costs of hiring, developing, and managing Top Talent (the Total Cost of Management – TCM)
Having the framework to distinguish the ever-changing employee firm relationship is the first step, Measure. Quantifying the impact of your employee practices allows us to compare and contrast those against others who are competing for your target employees. Once we measure, we know the state of the workforce, and the insight to begin controlling the process and Manage. As we help you manage the process we can see what is working and what is not. Ultimately, we drive innovation and improvement to Maximize your human capital return on investment.
If you think this could make help your firm simplify your workforce strategies, call one of our experts at (212) 545-1280 or email us here.