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Recruitment experts dedicated to the Financial Services Industry

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The Belgian Financial Services sector is characterized by an ongoing quest for efficiency, digitalization and adaptation to global economic shifts. Amid these evolutions, Financial Institutions face significant recruitment challenges.

High demand for skilled professionals leads to tough competition for top talent. Recruitment in the Financial Services sector in Belgium requires a deep understanding of local and international markets & regulations, as well as anticipation of emerging trends.

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We go beyond traditional recruitment in Financial Services. Leveraging cutting-edge digital tools and an extensive industry network, we identify and secure top-tier talent with the expertise and mindset to drive your company’s success.

We understand the unique context, goals, and responsibilities of each position. Our commitment is to present you with a carefully selected shortlist of professionals who not only possess the technical skills but also align with your company culture and the key success factors of the role to be filled.

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A team dedicated to the Financial sector

Our experts specialise in recruiting talent in the Financial Services sector in Belgium and internationally. They have a proven expertise and track record in identifying top talent for various positions within financial institutions.

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We recruit on behalf of:

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Roles for which we recruit:

Leadership

CEO, CFO, CRO, CCO, CMO, CIO, CHRO, COO,...

Strategy

PMO, Program & Project Management, Transformation & Change,...

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Marketing, Communications, Branding, Campaign Management, ...

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Private Banker, Portfolio Management, Relationship Management, …

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Middle & Back Office operations , …

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Compliance, Risk, Audit, ...

Finance & Reporting

Regulatory Reporting, Actuary, Finance Operations, …

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What is employee onboarding?
MPG Canada
/ Categories: en

What is employee onboarding?

What we call “Onboarding” is the integration of new employees in a company. It is a strategic step for any company that wants to foster engagement, motivation and talent retention.  

Recruiting is like setting sail together; successfully onboarding new employees means learning to navigate as a team, even in the midst of a storm! 

Onboarding, a crucial step in recruitment and a key component of talent management strategy, is much more than just an administrative formality: it provides new employees with the keys to success and helps them integrate into the company for the long term. For recruiters, the stakes are high: early turnover can cost up to 213% of an employee’s annual salary, making structured onboarding essential for employee retention and engagement from day one. 

This article offers strategies to transform this crucial phase into a powerful performance and integration tool. 

Definition of employee onboarding process

Challenges of an Onboarding Process

In a company, onboarding refers to the structured process that supports a new employee’s arrival, from recruitment to full productivity. The goal is not only to provide the necessary skills but also to lay the groundwork for long-term employee retention

Statistics highlight the importance of this step: according to a Gallup survey, 88% of employees believe their company could improve its onboarding process. Other data from Bamboo HR reveals that 35% of new employees quit within the first six months. These figures demonstrate that an effective onboarding process is essential for ensuring successful and lasting integration. 

Objectives of an Onboarding process

The primary goals of onboarding are to familiarize new employees with company culture, help them become effective quickly, and foster strong connections with their team. This process also contributes to employee retention

The objective is therefore to implement concrete actions that ease the arrival of a new employee: reassuring them, establishing a climate of trust, and naturally answering all their questions. A well-designed onboarding process is key to creating a sense of belonging from the very first weeks while laying the foundation for a successful collaboration. 

Why is Onboarding Essential for a Company?

Talent Retention

An effective onboarding process is crucial to reducing turnover and increasing talent retention. When the onboarding process is well-structured, new employees feel supported, heard, and encouraged from the beginning, which strengthens their long-term commitment. Conversely, an employee who struggles to find their place or feels neglected in their first days may quickly consider leaving, increasing the risk of early departures. By investing in a well-planned onboarding program, a company ensures that each employee feels valued and builds a strong sense of belonging. 

Employee Engagement

Onboarding plays a crucial role in employee engagement, which directly impacts performance and long-term motivation. When an employee develops a sense of belonging from the start, they feel motivated and invested in the company’s goals. Conversely, lack of engagement leads to demotivation and early departures. 

It is essential to consider the integration period as a strategic investment, just like training, adaptation, and the discoveries of the new hire. A well-executed onboarding process not only strengthens engagement but also ensures a rapid and effective skill development. 

Impact on Employer Branding

A structured and engaging onboarding process directly contributes to strengthening employer branding. By offering a positive onboarding experience, the company improves its reputation among employees and externally, attracting new talent. This approach also enhances the company's image as a welcoming and stimulating workplace, making it more appealing for recruiting and retaining top talent

Additionally, a well-structured onboarding process optimizes training time and accelerates the productivity of new hires, enabling them to be operational more quickly. Conversely, a failed onboarding process can be costly: according to the Society for Human Resource Management, it can cost up to 50-60% of an employee’s annual salary, not to mention its negative impact on motivation and overall team engagement. 

The Risks of Poor Onboarding

High Turnover Costs

A poorly managed onboarding process can lead to high turnover costs, both directly and indirectly. Direct costs include expenses related to recruitment, training, and integration that must be repeated in the case of a quick departure. Indirect costs are often even greater, impacting team productivity, colleague morale, and company reputation. 

According to Deloitte, the hidden costs of a bad hire can average €50,000, and for some strategic roles, this amount is even higher. Additionally, Mercer's research found that the turnover rate in Canada rose after the pandemic, growing from 12.4 percent in 2022 to 15.5 percent in 2023, highlighting the importance of successful integration to reduce departures and associated costs

Risks to Productivity and Engagement

A poor onboarding experience can seriously impact the performance of new employees. Without a structured support system, new hires struggle to understand their role, objectives, and company culture, making them less effective and more prone to rapid demotivation. 

This situation poses a significant risk to company profitability: without a proper onboarding process, new hires take longer to become profitable. Lack of engagement and clarity from the start can also reduce overall team productivity, creating barriers to smooth operations and company goals. 

Key Steps for a Successful Employee Onboarding Process

Before the Employee's Arrival

Onboarding begins long before the employee’s first day, with careful preparation of the workstation and proactive communication with the team. This includes setting up the necessary tools, sending welcome documents, and providing practical information. Maintaining communication between recruitment and the employee's first day is essential for keeping them engaged. 

An anticipatory approach significantly improves retention as these early efforts create a positive and reassuring experience, facilitating integration from day one. 

First Day of Onboarding

The first day is a key milestone for providing a warm welcome and making a great first impression. It should include: 

  • A team introduction 

  • An office tour 

  • A meeting with the manager and key colleagues 

Ideally, the HR representative who oversaw the hiring process should also be present. This involvement reassures the new hire and demonstrates that their arrival is valued. 

This first day helps build trust and integrate the employee into their new environment, making adaptation smoother and more natural. 

Regular Follow-ups & Probation Period

To ensure a smooth and successful integration, regular follow-ups should be scheduled throughout the probation period. These meetings help address the employee’s questions, gather feedback, and ensure they are adapting well to their new role and team. 

Regular check-ins strengthen the employee’s sense of support and allow potential difficulties to be addressed quickly, adjusting support to maximize long-term engagement and productivity. 

A structured onboarding process is essential for successfully integrating new employees and maximizing their engagement from the start. From pre-arrival preparations to ongoing follow-ups, each step helps reduce turnover costs, strengthen employer branding, and enhance productivity. 

By investing in high-quality onboarding, companies create an environment conducive to talent retention, efficiency, and long-term engagement. A well-thought-out onboarding process does more than just integrate employees—it lays the foundation for a lasting and productive relationship between the employee and the company.

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  • Recruitment tips

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