The employee lifecycle
The employee life cycle continues to shorten with each generation. The current expected tenure for junior roles is 18 months to 3 years. For intermediate roles the average tenure is 3-5 years, and for VP or C-Level executives the average tenure is only 3 years. It is important for job seekers and hiring managers to understand all the steps in the Employee Lifecycle, as an average employee may complete this loop more than 15 times in their career!
1.Apply for Jobs Networking remains the #1 reported way to get a job! Reported Source of New Jobs
- Networking: 41%
- Internet Job Board: 25%
- Agency/Search Firm: 11%
- Direct Approach: 8%
- Online Network: 4%
- Advertisement: 2%
- Other: 10%
2. Phone Interview Phone interviews are usually done on the spot without previous scheduling.
- 80% of phone interviews last less than five minutes
- 95% of phone interviews last less than fifteen minutes
3. In-Person Interview
Top 10 most common interview questions you should prepare for:
- Can you tell me something about yourself?
- Why did you apply for this job?
- Why did you leave your last job? / Why are you planning to leave your job?
- Can you tell me more about your working experience?
- What are your strengths and weaknesses?
- What are your short and long-term goals?
- What is your biggest achievement and failure?
- What are your salary expectations?
- Why should we hire you?
- What questions do you have?
4. Subsequent In-Person Interview(s) If you receive a second interview, many experts say your chances of getting a job offer are between 25% – 50%. It’s important to do even more at this stage to stand out. Also, keep your energy high since subsequent interviews may take all day and involve a series of individual and panel interviews with employees at all levels in the company.
5. Salary and Compensation Negotiations Many job seekers dread this part of the process or think that salary is not negotiable. Over 50% of employees feel they are underpaid. This is a critical component since most salaries are actually negotiable!
- Most recruiters expect that top candidates will negotiate salary upwards between 10% – 20%.
- When you receive your job offer, say “I’d like to think it over.”
- Do your research and bring competitive salary data from a credible source.
- If salary is not negotiable, try also negotiating your entire compensation package – vacation days, bonus plans, stock options, retirement plans and health benefits.
6. First Day of Work and Orientation First day of work and orientation are critical to the success of new hires:
- New employees decide whether they feel at home or not in the first three weeks at a company
- 4% of new employees leave a job disastrous first day
- New hires that go through a structured on-boarding program are 58% more likely to stay with the company more than 3 years.
7. Ongoing Training Take advantage of on-the-job training and employer sponsored conferences and training programs. Over 90% of employees believe that the skills obtained at their company are transferable to other jobs.
8. Ongoing Education Check with your company about benefits offered for ongoing education. Numerous employer surveys reflect that over 80% of companies offer some form of tuition or formal education cost reimbursement to their employees.
9. Exit Strategy Resignation Notice (usually at least 2 weeks) Employment exit strategies can be tricky, so make you sure have thoroughly examined your best options. The gold standard is still to give two weeks notice to your employer. However, that rule is changing especially if you work with confidential information or are moving to a competitor. In these cases it is common that your employer will ask you to leave immediately.
- Never give notice before you have a signed offer letter from your new employer.
- Consider how the date you leave will affect your benefit plans.
- Remove all personal files from your work computer before giving notice.
- Never tell other colleagues about your resignation before you tell your boss.
By Jim Stroud