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Employee onboarding : An analysis of best practice in employee onboarding and their implementation in the financial services industry in Ireland

O'Brien, John (2013) Employee onboarding : An analysis of best practice in employee onboarding and their implementation in the financial services industry in Ireland. Masters thesis, Dublin, National College of Ireland.

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Abstract

On average an American worker between the age of 18 and 37 will have had 10 jobs (Rollag, Parise & Cross, 2005). This statistic is very interesting. It can be viewed that the average American worker gets bored in his position very quickly. Can this be as a result of bad work practices in employee onboarding? Van Vark (2006) advises us that the cost of employing new people runs between 30% – 40% of base salary. This is a very high cost for companies. The cost is effectively hidden in with the other employment costs of the company. It is rarely highlighted to Senior Management.

Bourdeau (2011) writes about an incident in the onboarding of an employee in the US. The employee was astounded when she arrived to start work on her first day to find that her manager, who had spent months wooing her to join her company, was not in the office for her first week. This astonishment turned to dismay when she found out that she had no office and no computer. The funny fact here is that the company that employed her was in the Human Resource Management world. With onboarding processes like this I am sure that the employee became one of Rollag, et al. (2005) statistics. This also highlights the fact that bad onboarding practices can be inherent, no matter what the industry.

This research will look at the best practices in employee onboarding that are adopted by the leading companies in the world. It will then look to compare these best practices with those practices employed in Financial Services Industry in Ireland today. It will also look into the various tools that make up best practice. The aim of which is to engage the employee quicker and make the employee productive earlier. The feeling of belonging to the organizational citizenship of the company at an early stage, leads employees to attaining this engagement and productivity. This process is designed to reduce the need to re-hire and therefore reduce the costs of the company, while at the same time increasing the employee’s satisfaction with their work life balance. The employee forms a bond of loyalty with the company and thus will engage more effectively and efficiently resulting in a more productive employee (Gallup, 2006).

This research project encompassed both qualitative and quantitative research methodologies. 8 interviews were carried out with Human Resource Managers from leading companies in the IFSC. Also a survey containing 20 questions was completed by 182 participants from the IFSC.

Item Type: Thesis (Masters)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management > Human Resource Management
H Social Sciences > HG Finance > Financial Services > Irish Financial Services Centre
Divisions: School of Business > Master of Business Administration
Depositing User: CAOIMHE NI MHAICIN
Date Deposited: 26 Nov 2013 09:32
Last Modified: 26 Nov 2013 09:32
URI: http://trap.ncirl.ie/id/eprint/868

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