| Global Financial Services Company Overview | | | | Analysts at the company. |
| A global financial services company frequently hired | | | | The Onboarding Program |
| individuals in a business analyst role directly out of | | | | The onboarding program would be 5 weeks in length |
| college with their bachelor degrees in various | | | | and would take place on day one - before the new |
| management and liberal studies. On an annual basis | | | | hire even started in his/her role as a Business Analyst. |
| the company hires approximately 100 - 150 new | | | | The program included: |
| college graduates each year in a business analyst role | | | | - A "kick off" by a few of the executives to include an |
| worldwide. In many cases, these individuals have no | | | | overview of the company: history, locations, strategic |
| prior experience working in an organization. Data | | | | goals, organization chart |
| collected from the business showed the human | | | | - Information by HR on benefits, vacation, holidays, etc. |
| resources department that approximately 35% of the | | | | - 1 - 2 day courses on: |
| new hires each year did not stay with the company | | | | - Problem solving and decision making |
| more than 2 - 3 years. | | | | - Communication and presentation |
| This meant that for every 100 - 150 new hires, the | | | | - Negotiating and influencing others |
| company lost 35 - 52.5 employees each year. A | | | | - Team leadership |
| survey done of employees who had left the | | | | - Writing workshop |
| organization over the past 5 years showed the | | | | - Time management |
| following reasons for leaving the organization within the | | | | As part of the program, each new hire took the MBTI |
| first 3 years: | | | | (Myers-Briggs) to determine their personality type. This |
| - Lack of support from immediate supervisor | | | | was a great tool to introduce them to each other and |
| - Stress associated with trying to learn the job in a | | | | help them get to understand themselves and how they |
| short time frame | | | | work with others. |
| - Lack of understanding around job expectations | | | | The new hires worked in teams on a real-world |
| - Lack of understanding about the company structure | | | | project. In this way, they would be able to apply their |
| - No formal career path for them - felt "stuck" in their | | | | skills as a Business Analyst in a safe environment. The |
| job | | | | hope was that this would make them more |
| - Lack of communication among all business analysts - | | | | comfortable when they actually started their job. |
| feeling alone | | | | Additionally, each participant developed an action plan |
| The HR department approached the executives of | | | | on what they hoped to accomplish their first three |
| the global financial services company and discussed | | | | months on the job. |
| the results of their survey. HR proposed an onboarding | | | | Throughout the 5 weeks, new hires heard from many |
| training program for all newly hired college graduates | | | | others in the company including other Business |
| that would help get the new hires up to speed quicker | | | | Analysts, the executives, management, and other |
| and provide them the support they needed within their | | | | employees. There were numerous presentations and |
| new roles. HR also believed that they would be able to | | | | panel discussions about working at the company. New |
| improve the retention rate by implementing an | | | | hires had the opportunity to learn about the challenges |
| onboarding program. The executives approved their | | | | others faced and how they addressed those |
| plan and provided them the resources they needed to | | | | challenges. Mentoring Program |
| develop an onboarding program in time for the next | | | | Mentoring was a component of the onboarding |
| group of new hires who would start on July 1. | | | | program. After the first week each new hire was |
| Development of the Onboarding ProgramPlanning the | | | | assigned a mentor - a Business Analyst who had |
| Program | | | | been with the company for at least 3 years. The |
| The HR department gathered managers from | | | | mentors took their mentees to lunch so that they could |
| throughout the company to discuss the need for an | | | | get to know each other. Throughout the balance of |
| onboarding program. The following questions were | | | | the onboarding program the mentors helped their |
| asked of the managers and their responses | | | | mentees in a variety of ways, including: |
| (summarized) are shown. | | | | - Answering questions/addressing concerns |
| Question: What are the responsibilities of newly hired | | | | - Assisting with their team project |
| Business Analysts: | | | | - Checking in with them regularly to see how things are |
| Response: | | | | going |
| - Research | | | | Portal Solution |
| - Gathering and analyzing data | | | | A portal was developed for use by the new hires and |
| - Report writing | | | | also by all Business Analysts company-wide. The |
| - Support for project teams working on client status | | | | portal included tools and templates, the ability to |
| reports | | | | collaborate to solve problems and share information, |
| Question: What challenges do the new hires face in | | | | best practices/processes, documentation and sample |
| their role as Business Analysts? | | | | works, and a list of company-wide resources. The |
| Response: | | | | portal was a great way for the Business Analysts to |
| - Understanding of the company - how it works, | | | | keep in touch with the peers company-wide. Results |
| different divisions, etc. | | | | of Pilot Program Surveys. Below are the initial pilot |
| - Not business savvy | | | | program survey results. These are high level |
| - Understanding what is expected of them | | | | summaries of the results only. |
| - Learning their way around the organization | | | | Level 1 - 2 survey completed by participants |
| Question: What are the attributes/skills of new hires | | | | immediately after the program ended: |
| that have been successful in the role? | | | | - 98% responded that they were "very satisfied" with |
| Response: | | | | the program |
| - Able to influence others throughout the company | | | | - 2% responded that they were "satisfied" with the |
| - Strong team leadership skills | | | | program" |
| - Creative problem solver | | | | 90% responded that the program was "very |
| - Able to make decisions with minimal support - do not | | | | effective" at helping them to learn new skills and |
| need to be micromanaged | | | | knowledge |
| - Strong communication skills | | | | - 10% responded that the program was "effective" |
| - Hard workers - willing to do what is needed to get | | | | 95% felt "very confident" in their ability to be effective |
| the job done | | | | on the job |
| - Motivated individuals | | | | - 5% felt "confident" in their ability to be effective on |
| - Customer service focused | | | | the job |
| - Flexible - able to "go with the flow" | | | | 100% "agreed" that on-the-job application of each |
| Question: Why have new hires failed - what were | | | | objective in the courses was discussed during the |
| they lacking? | | | | training program |
| Response: | | | | 100% felt "great benefit" was added by the panel |
| - Required too much "hand holding" | | | | discussions and presentations by other company |
| - Lack of effectiveness in dealing with others | | | | employees and executives |
| - Lack of business maturity | | | | Level 3 survey completed by participants after 3 |
| - Didn't seem to "get it" - meaning they had to be told | | | | months on the job: |
| too many times how to do something | | | | - Participants responded that 88% - 98% of their total |
| - Lack of ability to work effectively in a team - | | | | work time required the skills and knowledge presented |
| preferred working alone | | | | in the program |
| - Poor time management skills | | | | - 80% agreed that they made "significant progress" in |
| Question: What skills do Business Analysts need to be | | | | their action plans |
| successful? | | | | - 15% agreed that they made "good progress" in their |
| Response: | | | | action plans |
| - Problem solving | | | | - 5% agreed that they made "some progress" in their |
| - Business and report writing | | | | action plans |
| - Negotiation | | | | 100% were "very satisfied" with the mentors and the |
| - Influencing | | | | mentoring program |
| - Team skills | | | | 100% were active participants in the portal - sharing |
| - Analytical | | | | information, best practices, keeping in touch with other |
| - Strong customer focus | | | | Business Analysts, etc. |
| - Presentation skills | | | | Survey completed by managers and mentors after |
| The HR department then gathered together 25 | | | | the participants had been on the job for 3 months: |
| Business Analysts (hired within the past 1 - 2 years) | | | | - 82% believed that the 5 week training program and |
| from throughout the company to find out what they | | | | mentoring program had a "significant influence" on the |
| believed they needed in order to be success in their | | | | following measures: productivity, quality, efficiency, time, |
| job. They learned the following: | | | | employee satisfaction and customer satisfaction |
| - A better introduction to the workings of the company | | | | - 18% believed that it had "some influence" |
| - including an organization chart so they understand the | | | | Overall, respondents felt that the training program is an |
| structure. | | | | "excellent investment" in time, money and resources |
| - The ability to job shadow another Business Analyst | | | | and is of "great value" to the organization |
| before jumping into the role | | | | Summary and Next Steps |
| - A mentor | | | | Based on the survey results and follow up in another 6 |
| - More understanding from the individuals they work | | | | months, the executives determined that the onboarding |
| with and support around the fact that they are just out | | | | program was a success overall and should be |
| of college and still need to learn the ropes | | | | continued. Adjustments were made to the program as |
| - Less oversight and micro managing and more of a | | | | the company continued to grow and expand, including |
| focus on giving them the tools and support they need | | | | adding an additional course on understanding and |
| to do their job | | | | working with cultural differences. The panel discussions |
| - The ability for all of the Business Analysts to share | | | | and presentations would also include individuals from |
| information with each other and stay in communication | | | | around the globe. |
| with each other - so they can help and support each | | | | At 3 years, data was collected on the retention rate |
| other in the role | | | | of the first group to go through the program. It showed |
| - A career path - the chance to grow with the | | | | that the retention increased from 65% to 82%. After 5 |
| company | | | | years, the retention increased for this group to 96%. |
| Based on the information they gathered, the HR | | | | Additionally, the HR department saw an increase in |
| department determined that a 5 week training program | | | | promotions after 5 years on the job as a Business |
| combined with a formal mentoring program would | | | | Analyst to roles such as manager/supervisor and |
| provide the newly hired Business Analysts the skills | | | | team lead. |
| and information needed to be effective in their role. | | | | T he company used components of the program for |
| Additionally, in order to ensure they had the opportunity | | | | individuals who were promoted into new roles within |
| to stay in touch with each other and could share | | | | the organization to get them up-to-speed as quickly as |
| information, they asked the IT department to develop | | | | possible. All individuals who were promoted attended a |
| a portal for the business analysts. | | | | 1 week training program and assignment of a mentor |
| Additionally, they would work to develop a formal | | | | to help individuals be as effective and efficient in the |
| career path for individuals who started as Business | | | | shortest time possible. |