Cosy-up to your new employer

Australiaís banks are trying to make new recruits feel at home as quickly as possible, for fear of losing them to homelier rivals.

Itís known as ëonboarding,í according to Trevor Bradley, regional director of the recruitment firm Chandler Macleod, and is intended to convince new hires theyíve made the right choice.

How can you tell if youíre being onboarded? Bradley tell eFinancialCareers the process is all about integrating new employees into an organisationís culture (so expect to be taken for bonding sessions at the bowling alley), itís also down to developing skills and training, and to meeting employeesí expectations.

This doesnít mean youíll be promoted within months of joining. It does mean youíll be put on a course to learn about the organization and establish your strengths and weaknesses. You may even have a chance to say what you want along the way. Richard OíFlynn, of TOM Recruitment, says many major banks have launched ìdiscoveryî programs, to help integrate new employees. ìThey all seem to have a nautical or navigation theme,î he says.

This being banking, thereís a hard-edged rationale behind the softly-softly explorative approach. ìThey [banks] are all fishing in the same limited pool,î Bradley says. ìThey know the workforce is very mobile and staff are ready to quit or accept another offer if they are not happy.î

Chandler Macleod estimates that the cost of losing an employee in their first year of employment is around three times the salary of that employee. That includes hiring, training, and rehiring and retraining costs.

ìItís very useful for assimilating people who are not used to working for big organizations. It helps them assimilate quicker, and obtain a quicker return on the investment of hiring that person,î he reflects.