Here’s How to Create the Best Onboarding Experience for Your Team

Increase Employee Retention and Decrease Turnover with These Steps

In any organization, facilitating smooth and stress-free onboarding experiences should be a key focus. If done correctly, onboarding can help new employees ease into their role, become acclimated to your organization’s culture, and create a genuine sense of belonging for their next professional chapter.  

Studies show that a great onboarding experience can improve employee retention by 82% and that 70% of team members who have exceptional onboarding experiences report they have “the best possible job.” These compelling statistics show that not only is prioritizing onboarding the right thing to do, but it is also the smart thing to do.  

So, how do you curate an onboarding experience for mortgage professionals that leaves them motivated and prepared without breaking too much of a sweat on your end? We’ve broken down our tried-and-true tips for creating an onboarding strategy that’ll increase engagement levels and decrease turnover.  

Doing the Prep Work

Once the offer letter is sent, the real work begins! Whether you have an official Human Resources department or depending on the new hire’s manager, there are several tasks to be completed ahead of the official start date that’ll help reduce stress for all parties involved.  

• Communicate Expectations – What will the first day look like? Who is their direct supervisor? Are there any training courses they need to cover before day one? Whatever the expectations for the first day and week are, it is important to clearly communicate these plans.

• Knock Out Paperwork – Usually the most boring, tiresome part of any onboarding experience, paperwork is a chore to get out of the way ahead of time. Every company is different and will have its own requirements, but here is a general new hire paperwork checklist.

• Get Equipment Ready – Does your company provide a computer? Are they coming into the office and will need a designated workspace? Do you need to create login credentials so they can access their equipment and other resources? No matter what this looks like at your company, be sure to knock out any of these housekeeping tasks. 

Facilitating a Smooth First Day

The highly anticipated first day is here! While this day is exciting, it can also be overwhelming. The first day is often spent shaking hands or making virtual introductions – here’s how to make the most of a new hire’s first day.  

• Roll Out the Red Carpet – First and foremost, make sure the new hire feels welcomed by everyone in the organization. The importance of a genuinely warm welcome cannot be overstated. Whether it is taking the new hire out for coffee, decorating their workspace, or even a team lunch, make sure they know how excited the team is that they have joined.

• Assign a Buddy – We recommend this person be a peer as opposed to a more senior member, so the new hire feels more comfortable asking questions and learning the ropes. The buddy can help point out who is who, give an office tour, and just be a general point of contact for any questions that might pop up on the first day and beyond.

• Make Meaningful Introductions – Make sure you introduce the new hire to anyone they will be working with closely plus leadership. Clearly explaining job functions and how the roles collaborate when work ramps up is essential. Remember, introductions aren’t just limited to people – show off your company’s fabulous culture! 

Setting Up for Long-Term Success

• Designate a Mentor – In any industry, especially in mortgage, having a more experienced professional dedicated to cultivating younger talent is hugely beneficial. A dedicated mentor shares their wisdom, helps establish career goals, and is a shoulder to lean on. Helping new hires find a mentor within your organization that meshes with their workstyle and professional goals is an excellent way to retain top talent.

• Ramp Up the Work – While you don’t want to overwhelm new hires with a mountain of work on their first day, outlining a few projects or tasks that they can reasonably complete in the coming weeks will help them get their feet wet and feel productive.

• Make Time to Check-In – Whether it is a HR rep, direct supervisor, or mentor, dedicating time to touch base and see how things are going is an excellent idea. The cadence will depend on schedules, but a weekly, monthly, or quarterly check-in helps make sure everyone is on the same page and is a forum for both sides to give feedback.

  Each onboarding process is as unique as the organization itself, but these best practices can help you employ a successful onboarding experience whether the new hire is remote or in the office.  

At wemlo, we’re all about creating an environment where employees can thrive, and we know the workplace landscape is constantly evolving. If you’re looking to have the latest business and mortgage trends delivered directly to your mailbox, sign up for wemlo Weekly where the #teamlo rounds up everything you need to know all in one place!