diff --git a/src/ONYXKEYS.js b/src/ONYXKEYS.js
index 0bb4ed4ea3f4..e3ec98b6052e 100755
--- a/src/ONYXKEYS.js
+++ b/src/ONYXKEYS.js
@@ -170,6 +170,9 @@ export default {
     // Is report data loading?
     IS_LOADING_REPORT_DATA: 'isLoadingReportData',
 
+    // Is policy data loading?
+    IS_LOADING_POLICY_DATA: 'isLoadingPolicyData',
+
     // Are we loading the create policy room command
     IS_LOADING_CREATE_POLICY_ROOM: 'isLoadingCratePolicyRoom',
 
diff --git a/src/libs/actions/Policy.js b/src/libs/actions/Policy.js
index eba39252f6ce..4f9137355a6f 100644
--- a/src/libs/actions/Policy.js
+++ b/src/libs/actions/Policy.js
@@ -210,9 +210,11 @@ function deletePolicy(policyID) {
  * and we also don't have to wait for full policies to load before navigating to the new policy.
  */
 function getPolicyList() {
+    Onyx.set(ONYXKEYS.IS_LOADING_POLICY_DATA, true);
     API.GetPolicySummaryList()
         .then((data) => {
             if (data.jsonCode !== 200) {
+                Onyx.set(ONYXKEYS.IS_LOADING_POLICY_DATA, false);
                 return;
             }
 
@@ -224,6 +226,8 @@ function getPolicyList() {
             if (!_.isEmpty(policyCollection)) {
                 updateAllPolicies(policyCollection);
             }
+
+            Onyx.set(ONYXKEYS.IS_LOADING_POLICY_DATA, false);
         });
 }
 
diff --git a/src/libs/actions/Session/index.js b/src/libs/actions/Session/index.js
index 8d21d8ff73d5..ddccec8d71bd 100644
--- a/src/libs/actions/Session/index.js
+++ b/src/libs/actions/Session/index.js
@@ -20,6 +20,7 @@ import NetworkConnection from '../../NetworkConnection';
 import * as User from '../User';
 import * as ValidationUtils from '../../ValidationUtils';
 import * as Authentication from '../../Authentication';
+import * as Welcome from '../Welcome';
 
 let credentials = {};
 Onyx.connect({
@@ -347,6 +348,7 @@ function cleanupSession() {
     PushNotification.clearNotifications();
     Pusher.disconnect();
     Timers.clearAll();
+    Welcome.resetReadyCheck();
 }
 
 function clearAccountMessages() {
diff --git a/src/libs/actions/WelcomeActions.js b/src/libs/actions/Welcome.js
similarity index 60%
rename from src/libs/actions/WelcomeActions.js
rename to src/libs/actions/Welcome.js
index c67fab49f2e7..58935bcf54bd 100644
--- a/src/libs/actions/WelcomeActions.js
+++ b/src/libs/actions/Welcome.js
@@ -8,17 +8,60 @@ import * as Policy from './Policy';
 import ONYXKEYS from '../../ONYXKEYS';
 import NameValuePair from './NameValuePair';
 import CONST from '../../CONST';
+import createOnReadyTask from '../createOnReadyTask';
+
+const readyTask = createOnReadyTask();
+
+let isFirstTimeNewExpensifyUser;
+let isLoadingReportData = true;
+let isLoadingPolicyData = true;
+
+/**
+ * Check that a few requests have completed so that the welcome action can proceed:
+ *
+ * - Whether we are a first time new expensify user
+ * - Whether we have loaded all policies the server knows about
+ * - Whether we have loaded all reports the server knows about
+ */
+function checkOnReady() {
+    if (!_.isBoolean(isFirstTimeNewExpensifyUser) || isLoadingPolicyData || isLoadingReportData) {
+        return;
+    }
+
+    readyTask.setIsReady();
+}
 
-/* Flag for new users used to show welcome actions on first load */
-let isFirstTimeNewExpensifyUser = false;
 Onyx.connect({
     key: ONYXKEYS.NVP_IS_FIRST_TIME_NEW_EXPENSIFY_USER,
-    callback: val => isFirstTimeNewExpensifyUser = val,
+    initWithStoredValues: false,
+    callback: (val) => {
+        isFirstTimeNewExpensifyUser = val;
+        checkOnReady();
+    },
+});
+
+Onyx.connect({
+    key: ONYXKEYS.IS_LOADING_REPORT_DATA,
+    initWithStoredValues: false,
+    callback: (val) => {
+        isLoadingReportData = val;
+        checkOnReady();
+    },
+});
+
+Onyx.connect({
+    key: ONYXKEYS.IS_LOADING_POLICY_DATA,
+    initWithStoredValues: false,
+    callback: (val) => {
+        isLoadingPolicyData = val;
+        checkOnReady();
+    },
 });
 
 const allReports = {};
 Onyx.connect({
     key: ONYXKEYS.COLLECTION.REPORT,
+    initWithStoredValues: false,
     callback: (val, key) => {
         if (!val || !key) {
             return;
@@ -45,12 +88,10 @@ Onyx.connect({
  *
  * @param {Object} params
  * @param {Object} params.routes
- * @param {Function} params.hideCreateMenu
+ * @param {Function} params.showCreateMenu
  */
-function show({routes, hideCreateMenu}) {
-    // NOTE: This setTimeout is required due to a bug in react-navigation where modals do not display properly in a drawerContent
-    // This is a short-term workaround, see this issue for updates on a long-term solution: https://github.com/Expensify/App/issues/5296
-    setTimeout(() => {
+function show({routes, showCreateMenu}) {
+    readyTask.isReady().then(() => {
         if (!isFirstTimeNewExpensifyUser) {
             return;
         }
@@ -72,15 +113,19 @@ function show({routes, hideCreateMenu}) {
         const exitingToWorkspaceRoute = lodashGet(loginWithShortLivedTokenRoute, 'params.exitTo', '') === 'workspace/new';
         const isDisplayingWorkspaceRoute = topRouteName.toLowerCase().includes('workspace') || exitingToWorkspaceRoute;
 
-        // It's also possible that we already have a workspace policy. In either case we will not hide the menu but do still want to set the NVP in this case
-        // since the user does not need to create a workspace.
+        // If user is not already an admin of a free policy and we are not navigating them to their workspace or creating a new workspace via workspace/new then
+        // we will show the create menu.
         if (!Policy.isAdminOfFreePolicy(allPolicies) && !isDisplayingWorkspaceRoute) {
-            hideCreateMenu();
+            showCreateMenu();
         }
-    }, 1500);
+    });
+}
+
+function resetReadyCheck() {
+    readyTask.reset();
 }
 
 export {
-    // eslint-disable-next-line import/prefer-default-export
     show,
+    resetReadyCheck,
 };
diff --git a/src/pages/home/sidebar/SidebarScreen.js b/src/pages/home/sidebar/SidebarScreen.js
index 158ba45a26ac..c2f55f3d1826 100755
--- a/src/pages/home/sidebar/SidebarScreen.js
+++ b/src/pages/home/sidebar/SidebarScreen.js
@@ -22,7 +22,7 @@ import Permissions from '../../../libs/Permissions';
 import ONYXKEYS from '../../../ONYXKEYS';
 import * as Policy from '../../../libs/actions/Policy';
 import Performance from '../../../libs/Performance';
-import * as WelcomeAction from '../../../libs/actions/WelcomeActions';
+import * as Welcome from '../../../libs/actions/Welcome';
 
 const propTypes = {
     /* Beta features list */
@@ -58,7 +58,7 @@ class SidebarScreen extends Component {
         Timing.start(CONST.TIMING.SIDEBAR_LOADED, true);
 
         const routes = lodashGet(this.props.navigation.getState(), 'routes', []);
-        WelcomeAction.show({routes, hideCreateMenu: this.hideCreateMenu});
+        Welcome.show({routes, showCreateMenu: this.showCreateMenu});
     }
 
     /**