Supporting new recruits to allow them to embed themselves in their company values and ethos is also a crucial aspect of talent management and retention.
Today’s article discusses the importance of supporting new employees through the onboarding process. Our sister title Mid-market Insight talks to Neil Herbert, international CFO for Capital One, who discusses how the company reevaluated their onboarding process by using the experience of new recruits.
Sheridan explains why: “It is essential for all business owners to pay attention to the work environment being created among their employees because culture is becoming increasingly important particularly with millennials – who often value ethos and corporate social responsibility (CSR) as highly as financial remuneration when applying for new roles.”
Therefore, CFOs must clearly define and communicate their organisation’s corporate culture, its values and its ethos externally and internally in order to attract and retain talent.
He adds: “The first days and weeks on the job for new employees are critical to their ability to fit in and become as productive as possible, as soon as possible.”
He says that the employee ‘onboarding’ or induction process therefore needs to go beyond mere practicality to “acknowledge that what new employees learn in their first few weeks has long-term effects on their ability to tackle the challenges of today’s faster-paced business environment.”
So, in his view, onboarding therefore needs to cover matters related to training, scheduled milestones, mentoring programmes and interactive meetings.
Visit us tomorrow where we investigate how to identify talent and particular skills.