How To Onboard New Finance Team Members
Welcoming new employees to your finance team can be an exciting time, but for your new colleagues, it can be a daunting experience. When you start a new job, there’s a lot of information to take in, and it can quickly become overwhelming.
It’s essential to give your new team members the support and time they need to get to grips with their new roles and ultimately thrive in your finance team and do the best job they can.
This guide will explain what employee onboarding is and why it’s so important. We’ve also provided a checklist to help you onboard new team members successfully.
Table of Contents
- What Is Employee Onboarding?
- Why Is A Smooth Onboarding Process Important?
- Checklist For Successful Employee Onboarding
What Is Employee Onboarding?
Employee onboarding refers to the process of introducing new employees to a company. Onboarding allows new employees to find out more about their roles and the business as a whole.
There’s an administrative side to onboarding, like making sure new employees can access their emails or getting them set up on payroll. However, it’s also a chance for new employees to get to know their working environment and the people they’ll be working with before they get stuck in their roles.
Why Is A Smooth Onboarding Process Important?
Starting a new job can be hard, and it’s not uncommon for new employees to leave within six months of starting. In fact, a staggering 90% of employees make the decision to stay or leave a new job within the first six months.
This could be because the role, the company, or both just aren’t a good fit for them. The nature of their role, or the culture of the organisation, might not be quite what they had in mind, so they choose to move on. However, if they have a bad experience in the first few days or weeks of a new job, they may decide to leave.
An effective onboarding process makes it more likely that your new employees will choose to stay. First impressions are everything, and a new employee is more likely to stick around if they have a good experience from day one.
New employees who feel welcomed into an organisation are more likely to settle in faster and feel like they’re part of the company. They’re more likely to get to grips with their role faster and be more engaged with their work and the company as a whole. A new employee who is comfortable and settled will probably be more productive and invested in the organisation.
Checklist For Successful Employee Onboarding
If you’re unsure about how to onboard your new finance team members, our checklist will help you put together an effective process that will ensure your new colleagues feel welcome.
1. Before The First Day
As a manager, there are a few things you can do to prepare for your new starter’s arrival. A seamless welcome is the best way to make a good first impression.
Make sure your IT department has set up the relevant hardware and software for your new employee. If they need a laptop and mobile phone for their role, make sure you’ve arranged to have these set up.
Tell your new employee what will happen on their first day, such as where they can park their car and what time they should arrive. If you have a reception, let the team know when your new starter is expected.
Prepare Relevant Reading
Prepare any documents you think might be helpful for your new employee in advance, like internal policies and organisational charts.
2. First Day
Your new employees will probably be excited and nervous on their first day, so it’s important that they feel supported.
Give A Tour
Give your new employee a tour of the facilities at your company, such as the kitchen and toilets. Make sure they know how to get out of the building in an emergency and where the evacuation meeting point is.
Introduce your new colleague to the wider team and anyone else they will be working closely with. At this point, it’s a good idea to introduce them to your HR team. Remember, it’s only the first day, so don’t overdo the meet-and-greets.
Most companies have training that all employees must complete, such as health and safety and fire safety. Let your employee know what courses they need to do and give them adequate time to complete them.
3. First Week
Your new employee has had a few days to settle in and acclimatise to your company. This is a good time to check in to see how they're getting on.
Now is a good time to set some objectives for your employee to work towards for the next few weeks and months in their role. As time goes on, you can gradually add more responsibilities, but be careful not to overload them. Check-in with them regularly and offer help if they need it. It’s still early days, so it’s important that new colleagues feel valued and supported.
Meet The Wider Business
By now, your new colleague has had the chance to meet their immediate team and HR department. Now is a good time to introduce them to key figures in the company. If it’s appropriate to their role, arrange for them to meet with senior leaders.
Set Up Regular Check-ins
Set up regular meetings with your new employee to check in on how they’re settling in and if they need anything to help them carry out their role. Offer plenty of opportunities for them to ask questions.
If you want to know how to get the best out of your team, read our top tips for upskilling and developing your finance team here.