Onboarding Your New Finance Team Has Changed – What You Need to Know Now

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The workplace has changed significantly for financial professionals in the last couple of years. A rapid increase in hybrid and remote working strategies means employers have access to a wider variety of talented professionals from all over the globe. However, you’ll also have new challenges to face when integrating your hires into your existing company culture. 

According to a 2021 survey, 25% of UK finance workers will be looking for fully remote positions in the years ahead. While the digital landscape enables modern professionals to work from almost anywhere with an internet connection, it’s your onboarding strategy that determines whether your staff will thrive in their new positions. 

Here’s your guide to preparing for the new age of onboarding.  

 

1. New Technology will Enable Virtual Onboarding 

McKinsey says the events of 2020 accelerated digital transformation by around 7 years. We’re now far more reliant on technology to power every part of our lives, from communication to knowledge sharing. In the financial industry, many professionals are used to working with specialist tools for forecasting, budgeting, and tracking essential information. HR groups and hiring managers will now also need to embrace technology to enable the virtual onboarding process. 

Though the same tools you use to welcome your candidates aboard might vary, some of the most common options include: 

  • Virtual contract signing: Documents must be officially signed and recorded to keep your team compliant with business policies. Financial companies will need to ensure their hiring managers and would-be employees are confident using HelloSign and Adobe Sign tools to collect electronic signatures.  
  • Collaboration and communication tools: Digital collaboration tools like Slack, Zoom and Microsoft Teams keep financial employees connected in a remote-working world. You can also use these tools to share messages and files with new candidates during the onboarding process and ensure they access all the company information they need. 
  • Video conferencing tools: Video interviews are emerging as a far more fast-paced and engaging way to sort through candidates without the need for a lot of travel. Hiring managers need to be confident hosting interviews over video and even using bonus tools like quiz applications to collect information about a candidate during a conversation. 

 

2. Remote and In-House Employees will Need the Same Tools 

As finance professionals continue to negotiate opportunities for remote working, many business leaders will discover the benefits of having a more flexible, hybrid workforce. Having staff members both in the office and working from home reduces employment overheads while helping to attract new staff. Hybrid hiring is also a great way to ensure you have the flexible team required to tackle a changing financial market.  

For companies embracing a new flexible workforce, it will be essential to ensure both in-office and remote staff have access to the same technology. Employees working from home should access the same secure VPN connections as teams at the office. Your external finance professionals will also need: 

  • Security and privacy tools for the secure management of sensitive financial files. 
  • Crucial accounting and financial programs used by the rest of your team. 
  • Communication tools, including a business phone number and phone line. 
  • A strong internet connection with secured networks when necessary 
  • Access to a full business knowledgebase for extra information about the company 

Reach out to your new candidate during the early onboarding process to find out what they need to be effective in their new role. Does your employee have the right internet speed to thrive in your company, or does it require an upgrade? Can you provide access to webcams and microphones if your staff would otherwise be unable to join video calls? 

 

3. Company Culture will Require Extra Focus 

Your company culture stands alongside your employer brand as one of the main factors attracting future candidates to your business. Ensuring all prospective employees feel immersed within your company culture is crucial – even if your staff aren’t all located in the same place. 

Start by ensuring you have a good idea of what your company culture should encompass. What are your values as a business? What’s your mission statement, and what does your code of conduct look like? How do you measure the success and progress of your team members and the business? Share this information with your employees during onboarding. 

Once you have a clear vision of your company culture, invest in sharing that concept with your entire workforce. For instance: 

  • Use video: Access video conferencing tools to bring team members together wherever they are for intimate face-to-face interactions. This will ensure your remote employees don’t feel left out when you’re having in-office meetings.  
  • Encourage constant communication: Provide team members with various ways to communicate and build rapport with their colleagues. Instant messaging is a popular option through tools like WhatsApp and Microsoft Teams.  
  • Create a feedback loop: Provide regular feedback to your employees on their performance and reward anyone who shows the characteristics important to your company culture. At the same time, encourage your team members to give you feedback on what you can do to make the workplace more efficient and productive. 

Remember, strong company culture will start with hiring the right people regardless of your employees. Choosing candidates who match your company’s values will make it easier to build an immersive work environment.  

What’s Next? 

As onboarding in the new digital age becomes more complex, financial companies need to be prepared for a new range of challenges and opportunities. Working with a specialist recruitment company can help to ensure you attract the right people to enable a successful future for your company. Rebus Recruitment can help you track down the right people for your evolving team. 

You can contact our team for guidance by email or contact our direct line on 01282 930 930 

 

Thanks 

Rachel Mitson 

About Rebus Financial Recruitment    

Rebus Financial Recruitment provides a specialist and focused recruitment service to its customers, which historically range from various organisations, including SMEs, to large PLCs.     

We strive to offer both the client and candidate a seamless recruitment experience. Using our expertise, we get to the heart of employer and employee needs, and, in doing so, we match the two perfectly. To find out more, get in contact with one of our team today, or you can call us on 01282 930930.  

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