The employment cycle involves 3 stages: 1) Establishment where organizations identify staffing needs, conduct job analysis, recruit applicants, and select candidates. 2) Maintenance through induction, training, skills tracking, pay/benefits. 3) Termination of voluntary resignations or retirements, and involuntary dismissals or layoffs. The cycle helps organizations align employment with business strategy over time through planning, attracting talent, developing skills, and managing turnover.