New Hire Onboarding -- Practical Advice to Boost Performance & Retention

Transcription

1 New Hire Onboarding -- Practical Advice to Boost Performance & Retention Amy Hirsh Robinson Interchange Group

2 Amy Hirsh Robinson, MBA Principal, Interchange Group Workforce Strategies for the New Economy New hire onboarding to boost retention & engagement Strategies to manage & develop multigenerational talent Succession planning for the roles that matter most in the future

3 What Is Onboarding?

4 Let s Agree Every Organization Has An Onboarding Process

5 Everyone Has A Horror Story

6 $9 Million

7 The Cost Of Bad Onboarding Increased Turnover Diminished Productivity Reduced Engagement Loss of Respect for Management & Company Degradation of Company Brand

8 60% 63% 69% Revenue/FTE Customer Satisfaction Retention

9 Total Births (millions) Demographic Shifts Baby Boomers Millennials Generation X 2.5 Traditionalists Dept of Health & Human Services, National Center for Health Statistics

10 Generations At Work Generation Characteristics Values Onboarding Focus Traditionalist ( ) Loyal Patriotic Authority Hard work Org history & legacy Duties Financially conservative Delayed rewards Chain of command Faithful to institutions Honor & experience Baby Boomer ( ) Competitive Politically adept Challenge authority Liberal spenders Professional identity Health & wellness Material wealth Optimism Professional renewal Org hierarchy Performance mgmt process Generation X ( ) Skeptical Independent Mobility & autonomy Balance Access to info Relevant resources Resourceful Efficiency Clear priorities & Informal Reward for results metrics Millennial ( ) Optimistic Confident Constant feedback Teamwork Community Corporate culture Multi-Taskers Diversity & inclusion Professional growth Civic Minded Flexibility

11 Designing Your Program

12 Get The Right Resources Expertise in Generational Issues Involvement of Corporate Management in Determining the Goals Integration of Goals in Strategic & Tactical Plans to Attract, Retain & Manage Intergenerational Workforce

13 Focus On The Experience What Is The New Hire s Takeaway? Emotional Perceptual Does Your Process: Make it easy/difficult to get the information they need? Help/hinder their path to high performance? Increase/reduce time to productivity? Ensure/sabotage their success?

14 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

15 Senior Mid-Career Entry Level

16 Boomers Gen Xers Millennials

17 Wealth Mgmt Commercial Banking Retail Banking

18 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

19 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

20 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

21 Before First Day First Day First Week First 90 Days First Year Assign buddy to employee Extend personal welcome to employee Communicate 1 st day logistics to employee Send paperwork in advance or online portal access Prepare for employee Identify transition risks Introduce employee to buddy & colleagues Meet immediate requirements for employment Situate employee with resources or networks required for work Orient employee to organization & culture Set performance expectations & job scope Explain performance appraisal process Assign meaningful work Ensure direct managerial involvement Schedule meetings with senior leadership Create employee development plan Provide essential training Assign mentor(s) Plan team activities & interdepartmental mixers Monitor performance & provide feedback Obtain feedback through new hire survey & other means Recognize positive employee contributions Provide formal & informal feedback on performance Assess future training & development needs

22 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

23 6 Critical Steps Of Onboarding STEP 6 Define & Track Success STEP 1 Classify Entrants STEP 5 Implement Program STEP 2 Identify Competencies for Each Level STEP 4 Identify Key Phases & Activities of Onboarding Process STEP 3 Identify Resources Needed at Each Level

24 Ready To Take Action?

25 Pitfalls To Avoid Not Having a Clean & Ready Workstation on Day 1 Cramming 20 Hrs of Info into 4 Dull Hrs of Orientation Ignoring the Needs of Mid- & Senior Level Employees Failing to Address Generational Needs & Differences Starting a New Hire When their Supervisor is Absent Relying on Org Charts to Explain Lines of Communication Assuming a New Hire Can t Be Productive From the Start Running a Disorganized Program Adopting a Sink Or Swim Approach Because It Worked for You!

26 Thank You! Feel Free to Reach Out! Amy Hirsh Robinson Interchange Group Web: interchange-group.com LinkedIn: linkedin.com/in/amyhirshrobinson Facebook: TheInterchangeGroup Telephone: