Relocation is an integral part of an organization’s attraction and retention of talent, a major workplace issue that every organization faces. Relocation is a benefit and can be used as a negotiating tool to help an organization obtain top talent. Do you realize how important relocation is to the talent you are trying to attract? If you can answer this question easily and acknowledge the importance of relocation to the employee then you probably understand the importance of the relocation process for your recruitment efforts. If you cannot answer this question with confidence then it may be time to evaluate your current relocation benefit.
In today’s competitive marketplace there are many organizations that don’t understand the relocation benefit and process completely. They may not realize how important the relocation benefit is to the talent they’re seeking. Is your relocation benefit really a benefit?
Relocation to the employee is about happiness, less stress and work/life balance. When an employee relocates they must balance the stress of the move and the stress of being present, not just physically present, but mentally present in the new position. Your new talent needs to feel that they are valued and that there is value in coming to your company. A managed relocation program can create a great first impression of your company. The higher the level of the employee you are hiring, the higher the need to manage the relocation process. Would you really want or expect your new executive to coordinate and manage his or her own relocation or would you prefer that they prepare for their new role with your organization?
Relocation speaks to the brand and internal culture of an organization. Employees within an organization talk and socialize externally with friends and colleagues. If your organization views relocation as an opportunity to build your brand and recruit top talent, your organization will be viewed as a top place to work. If your organization views relocation as a burden that someone in administration or human resources has to take on as extra work, the experience may not be as good for the employee and they may have a less favorable perception of your brand to share with others. The better the benefit and relocation experience, the more likely you’ll be at getting your first round pick from the talent pool and retaining the top talent that you already have.