Onboarding is the process of integrating new hires within your company culture and processes, while also equipping individuals with the tools and skills that they need to become a productive team member.
Creating an effective and thorough onboarding strategy is particularly essential in the banking sector, as it gives prospective employees an overview of the current state of the industry and introduces them to the products and values of your bank.
This is especially important when onboarding graduates, as they are likely to be new to the realities of working in the competitive banking environment. By investing in the right graduate training solution, you can give your new hires the opportunity to fully immerse themselves in their role and to understand the structure of the bank. It also serves as a great way to ease their transition and integration with other employees.
Why is an onboarding strategy important in banking?
Onboarding is particularly important in the banking sector as new legislation and technologies are constantly influencing change to essential processes. Onboarding allows new hires and graduates to develop the crucial skills needed to perform to the best of their abilities and in line with the company’s aims and objectives.
Creating an effective onboarding strategy can also serve as a surefire way to attract both experienced individuals and graduate talent to your bank, as it signals to potential employees that your business will support them professionally with regular training opportunities.
A well-thought-out onboarding strategy is also essential to retaining talent, as individuals will feel welcomed and supported from the beginning of their careers. This is especially true with graduate hires who are just setting out on their professional banking journey.
Providing a clear focus towards onboarding as part of your graduate training programmes is a great way to boost the confidence of new hires and graduates. Experiential learning exercises, such as business simulations and virtual learning, give individuals the opportunity to get up to speed with the processes of your bank while exploring real-life scenarios in a safe environment.
MDA Training’s approach to onboarding in the banking sector
There are several areas we specialise in, including:
- Bank strategy
- Measuring and managing risk
- Forensic audit activity
- Dealing with code of conduct breaches
Each of the areas in our graduate training programmes are designed to truly engage and motivate your new hires, fully integrating them within the business. Using these methods, you will be able to implement your processes with ease and give graduate hires the opportunity to launch their careers with a solid understanding of your bank’s aims and objectives.
For more information on the graduate training programmes that we offer, view our sample programme here.
Perfecting your bank’s onboarding strategy is an essential step in ensuring that your business is an attractive place to work for both experienced hires and graduate talent, as well as improving staff retention.
In light of this, it is important that your bank takes steps to include comprehensive onboarding as part of your graduate training programmes.