Incorporating new members into the team

Hiring individuals for finance positions is always a risky venture. When you're searching for individuals to fill accounting jobs, wealth management jobs, or any other major career in finance, you can't just hire the most qualified applicant and hope for the best. You need workers who you can trust with your clients' funds, who fit into your corporate culture and who add value to your firm as a whole. If you're hiring someone who'll only complete the bare minimums required by their job title, then you're missing the whole point. 

Yet even when you find the right applicant, and come to terms on a job offer, the challenge continues. Even the most astute hire will fail to adapt to the high pressures of a major finance firm if they're not incorporated into the company or their department properly. Each new hire is an investment, and you need to protect that investment by giving them the best possible chance to succeed.

There's no one strategy that will ensure that each new hire will become a very important employee, either. Nurturing a new worker is a long-term prospect, and requires that you keep a close eye on your employees for an extended period of time. All the same, there are a few techniques you can make use of to try and confirm that each worker who shows up to work a finance job at your firm excels, and reaches their full potential. 

Extensive training programs
Many finance firms even go so far as to assume that the education received by their applicants isn't enough. A recent report from the New York Times detailed how a number of individuals receiving entry level finance jobs from firms like Goldman Sachs and The Blackstone Group were taking training programs and adult education classes, outside of the workplace, to help them improve their skills

"This is the stuff you really need to know, and that you don't learn in business school," Michael Rojas, a Columbia Business School graduate who took one of the courses, told the New York Times. "They have a template model, and they walk you through page by page."

No matter what kind of finance position you're hiring for, it may not be fair to assume that all applicants were trained to complete the specific task-at-hand during their college years. You may want to investigate whether there are worthwhile post-grad education opportunities near your office or firm – you could subsidize the cost for your workers if so. The talents they'd gain would no doubt provide a sizeable return on investment. 

Matan Feldmen founded Wall Street Prep, one of these training programs, in 2003, according to the New York Times. He had previously worked as an analyst and associate with JPMorgan Chase. Feldmen suggested that his experience makes him a perfect fit for prepping would-be finance workers on the topics they truly need to know about going into their first major job. 

"A lot of investment banks are casting a wider net, so they're spending more time emphasizing getting people up to speed fast," Feldmen told the news outlet. "You don't have as many clueless liberal arts majors anymore."

Mentorship programs
Still, the training programs detailed above are likely to be quite general compared to the in-office training you'd like to offer. Another method of preparing employees for their careers-to-come is to pair them with a veteran who works in your office as part of a mentorship program.

There's no rigid definition to how this could work: the new employee and the veteran may want to meet at regular intervals on a weekly basis, or they may simply want to grab lunch whenever they're both available on a free afternoon. No matter what, the point remains the same: to pair your latest hire with a man or woman who can point the way for them, and offer them a vision of where they could potentially end up after a long stretch working for your company.

Role models are always important, not just in our childhood. By instituting a mentorship program, you give each of your new employees a role model to aspire to – and you're also pairing them with a capable individual who can point out their mistakes and offer them tips about how to settle into the workplace.

Constant reviews and updates
Most businesses set up reviews for their employees, whether they're new hires or veterans, on a regular schedule. Often, a worker's performance is considered every year, or every six months. However, when you're working with a newly hired employee, such sporadic meetings hardly help – especially if the individual is working a high-pressure finance career, like technology jobs

Regular reviews – whether weekly, biweekly or on any other schedule – will allow you to correct any bad habits or mistakes in a new employees process right away, before they become a problem.