4 Steps for a Successful Onboarding Process - Seven Figure Firm | Seven Figure Firm
Looking for Botsford Financial? Click Here
buy book

4 Steps for a Successful Onboarding Process

To lead a self-managing company you’re going to need a solid team.

After 29 years in the industry I’ve gained more than a few insights into what makes a great team.

One thing I’ve realized is how crucial the onboarding process really is.

In some companies, onboarding is a singular event, just a one-day orientation—meeting with HR to fill out forms and getting a tour of the office.

I’m sure you can imagine that this does absolutely nothing in terms of building bonds between team members nor does it create a welcoming environment.


What is onboarding?

In short, onboarding is the mechanism in which new employees gain the knowledge, skills, and behaviors to become effective in their organization.

If we really get into it then we can see that onboarding is so much more than a simple process.

A successful onboarding will last 1-2 years and involves

  • constant communication
  • feedback
  • performance measurement
  • following the employee lifecycles for mentoring and development

All four above are keys to employee longevity and loyalty.

For ultimate success you must remember that you’re not just teaching new employees, but you’re actively integrating them into the organizational culture.


Why onboarding should be a priority

Of course no company is looking for high turnover and low productivity, but if you don’t have a plan in place, that’s exactly what you’ll get.

When you implement a strong new employee integration process, you’ll

  • see increased employee retention
  • protect client relationships
  • reduce the time that new employees drain company resources.


Building a successful onboarding process

To do this you must start well before the hiring process begins and continue until you feel that your company’s mission, your brand, and objectives have been received.

Every organization will have a different process as well as needs, take the time to find the best process for your firm.

1. Before the hire:

Attract the right candidates by spelling out exactly what you’re looking for. Be very clear with your job description, requirements, and what you’re expecting.

Once you’ve decided on a great candidate then you need to ensure everything is ready to go for their first day so they can hit the ground running. Accounts, e-mails, etc. are all set and ready for the new hire!


2. First week:

This is a key time when it comes to integrating a new member into an already established team.

Talk about the firm’s culture, both social and professional; include service principles, habits and what really matters to clients and the team.

Consider assigning a team member to act as a mentor.

Even think about hosting a social event for the team to get to know each other in a more relaxed environment. This could be a happy hour, catered lunch, or even a weekend activity.


3. First month and beyond:

How you choose to go from here will largely depend on your firm and your goals.

It’s important that you establish an organized and detailed plan.

Remember that new hires are receiving a lot of new information. Be sure to review important aspects with them regularly.


4. Feedback:

In order to continuously improve you should check in with your new employee after a few months and get their feedback on the onboarding process.

Making a few tweaks here and there can really improve your overall process.

What do you think of my tips for a stable and successful onboarding?

What methods have you found to be successful for you?

I want to hear! Leave a comment below letting us know about your own experiences.


I Can Help

I want you to touch, see and feel what a thriving, award winning, self-managing company looks like.

Join my team and me when you Spend the Day to learn the proven blueprints that show exactly how to build a self-sustaining seven-figure financial services business without working more hours.


Image attribution

Article Name
4 Steps for a Successful Onboarding Process
If you want to build a truly self-sustaining business, you’re going to need a strong team. Developing the right team starts with the onboarding process.

Leave a Reply

Your email address will not be published. Required fields are marked *