THE GROWING IMPORTANCE OF THE ONBOARDING PROCESS
June 19, 2007

2007 has been, and continues to be, a year focused on the shortage of financial talent and developing ways to attract and retain qualified professionals. According to the 2007 Accountants Inc. Compensation, Benefits and Workplace Trends Guide, loyalty to a company and/or manager was one of the top five reasons those surveyed chose to stay with their current employer. Preserving company loyalty with company branding initiatives and establishing detailed career paths with new hires during the onboarding process is the way of the future.

Human resource executives and department decision makers are well aware that the newer, younger generations are routinely searching the internet for better opportunities and acting as if they are the “free agents” of the work force with few ties to one company or the next. However, companies are starting to see that attitude shift to their veteran employees as well. A robust economy, combined with the acknowledged shortage of accounting and finance professionals increases the probability that the most tenured employees will realize their value and put themselves back on the market.

The most innovative organizations are focused on making sure that new hires are not only comfortable with their position but also with the overall company. When bringing a new hire onboard it helps if they grasp what impact their decisions and performance will have on the company’s business, states Jonas Akerman, CEO of BTS USA. “Once they understand their fit, they align better with the company’s goals.” According to the 2007 Guide, decision makers are adopting many popular strategies to help with the labor shortage and to help acclimate new hires. Three of the top five strategies include increasing cross-training efforts, allowing flexible schedules and establishing mentor programs. By having these types of strategies in place companies can limit the amount of time and energy used to repeat the process later on. “You spend a lot of time and effort building your team, it’s important to keep it together,” says Jim Bloem, CFO of Humana.

This information represents only a sample of the topics that this year’s Accountants Inc. Compensation, Benefits and Workplace Trends Guide highlights, in addition to our traditional compensation portion that supplies salary ranges from the executive to support positions throughout the nation. For more information on staffing related trends and to receive a complimentary copy of this year’s Guide, contact your local Accountants Inc. representative today.