Find out how growing businesses with a successful employee lifecycle profile have been using enterprise resource planning software to win the war for talent.
Resources are paramount to any successful growing business and none more so than your people.
Hudson, a global talent solutions company, believes your people are top of the resource tree, which is why you should focus on your employee lifecycle at all costs.
The right model
The Hudson Employee Lifecycle model is an ongoing circle of:
- Engaging and retaining
- Maintaining strategy at its core
It’s all about nurturing and developing your best people so they stay: lose your top talent, lose your top clients.
While many company leaders may see this as a standalone human resource (HR) issue, it’s actually broader than that, with a strong operational (ops) focus too. Therefore it ought to be part of the ops strategy.
Cooperation is key
So how best do you ensure HR and ops work hand-in-hand on your business’s employee lifecycle model? First and foremost, make sure it mirrors the overall development plan of your business. Business strategy applies as much to your people as it does to the bottom line – in fact, they’re aligned. Enterprise resource planning software can help you to achieve this.
Enterprise resource planning software could help both parties by offering a 360 degree view of your business, in turn highlighting the pinch points throughout which are leading to pain rather than gain for the staff. This clearer vision will offer a real-time perspective of the good, the bad and the less than attractive issues that need addressing. Knowing about them is already half the battle.
A key driver
In support of this approach is the IDC survey Managing Your Consulting Firm for Growth, which describes project and employee lifecycle as number one. Its portrait of a modern consulting firm lists key business drivers as follows:
- Operations – project and employee lifecycle.
- Business visibility – making better business decisions.
- Finding new opportunities – new clients and new service offerings.
- Focusing on the customer lifecycle.
They believe that the three lifecycle processes of customers, projects and employees are the core of a successful consulting business. Which is why each must be managed with trusted operating metrics, including the employee hire to retire lifecycle.
When you consider that staff who leave are costing British businesses around £4 billion a year, with the average cost of replacing a member of staff at £30,614, the figures speak for themselves.
Better manage your people with the help of enterprise resource planning software and you will be able to better manage your profit margins and further grow your already growing Professional Services people-led business.