Relocation Benefits That Help Everyone Succeed
New study reveals integral components of successful relocation benefits.
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Modify Relocation Benefits to Attract Top Talent
Job relocations are back on the rise, with 44% of organizations expecting to move 100+ employees within US borders in 2023. That’s according to IMPACT Group’s latest study, 2022 Relocation Services & Talent Trends, based on a survey of more than 100 CHROs and global mobility professionals.
To attract the best candidates to move, employers must offer competitive relocation benefits. Issues associated with relocation — such as employee’s anxiety, stress, and loneliness — have surfaced more in recent years than in the past, according to 60% of survey respondents.
The solution? Employers are updating their relocation benefits package to address these concerns. Many employers have expanded services to include a relocation coach and online content to help employees thrive in the new city and the new job.
Coaching Now a Popular Component of Relocation Benefits
According to the survey, 49% say their organization is likely to invest more in the wellbeing of those relocating. Nearly 80% say coaching sessions with a qualified expert can help promote wellbeing and overall satisfaction with the move. And success is particularly important today as employers compete for talent. (Get your copy of the new study here.)
Organizations Investing More in Wellbeing for Relocating Employees
Flexible Relocation Benefits vs. Strategic
Employers are no longer satisfied with pre-pandemic relocation benefits. When it comes to supporting relocating talent, 40% of organizations say they are making changes to their relocation benefits to offer more flexibility. More employers are opting for lump sum packages.
A lump sum benefit gives employees more flexibility because they determine how to allocate the funds. Yet, what happens when the employee lacks knowledge of their options or is inexperienced with moving? Often employees will use funds for carpeting or new furniture. Do these expenses produce the best results for your talent or your company?
While flexibility is highly desired by employees these days, too much flexibility may not serve the needs of the business.
Make Sure Employees Consider Services that Address Their Wellbeing
Educating your relocating employees about how to utilize their relocation benefits isn’t easy. Before the move, some employees don’t expect to need such services. However, once the move is in progress, they discover how vital these services are to their success.
When relocation coaching is provided, everyone in the household receives the tailored support they need.
Relocation Benefits Reduce the Risk of Failure
In our latest survey on relocation trends, 79% of responding organizations believe that relocation failure can be strongly correlated with failure to address relocation challenges, such as loneliness, anxiety, spouse needs, loss of spouse income, family issues, and difficulties settling in. One-on-one relocation coaching helps employees anticipate and alleviate these challenges before they impact job success.
IMPACT Group’s Relo ReThrive™ Integration Coaching
This program provides human-centered, emotional support for employees and their household – something that can often be missing from a relocation.
Relo ReThrive™ focuses on helping relocating talent maintain their wellbeing throughout the transition. Both relocating singles and couples will benefit from our Relo ReThrive™ service to support them in smoothly acclimating into their new role and home. Together with their coach, employees and families create a personalized action plan to settle in happily.
Relo ReThrive™ Integration Coaching
1:Me™ Relocation Support & Personalized Action Plan
Why Add Coaching to Your Relocation Benefits?
A relocation coach can promote wellbeing by addressing emotional needs. With a greater focus on helping employees and their households settle in after a relocation, you can minimize loneliness, stress, and a host of cascading negative effects. Relo ReThrive™ Integration Coaching – including the support of an expert relocation coach – can have a profound impact on wellbeing, engagement, and job satisfaction. And it’s a low-cost, high-impact solution that can be added to all levels of relocation benefits.
I truly believe that without my coach, I would have been significantly more stressed during the relocation and half of my needs would still remain unmet due to my lack of time and knowledge of available resources.
– Masuma Naqwe, Relocating Employee
Ready to Elevate Your Employees’ Relocation Experience?
Providing relocation coaching services is a tangible benefit that mobility experts say can make a real difference. Our global coaching team serves mobile talent in 68 countries and in 22 languages. IMPACT Group’s Relo ReThrive™ program will go a long way to ensure the success of your talent in the new job and in their new home – wherever their relocation takes them. Let’s talk about how we can partner together.
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