To Attract Top Talent
Our survey of 100+ HR Mobility leaders reveals the latest trends in employer-sponsored relocation solutions. Spoiler alert: About 50% of those surveyed say they will likely increase investment in services to address the wellbeing of employees who relocate.
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Relocation solutions allow companies to be competitive when seeking top hires. As employers compete for talent, a lack of competitive, employer-sponsored relocation solutions can be the deal-breaker.
Relocation Solutions – Solving Today’s Hiring, Engagement & Retention Problems
Gen Z and Millennial employees — and especially relocating executives — will expect their employer of choice to do more than cover their moving expenses. They will expect an entire relocation solution.
Today’s relocation solution starts with a needs assessment. This assessment allows the Relocation Coach to curate and customize services that the employee needs and values the most. It’s not just about the move; it’s also about what happens after the moving van pulls away.
Relocation Failure Often Linked to Stress, Loneliness & Spouse/Partner’s Loss of Income
According to IMPACT Group’s Relocation Services & Talent Trends study, 80% of the HR mobility professionals surveyed agree that relocation failure can be strongly correlated with failure to address relocation challenges, such as loneliness, anxiety, loss of spouse income and other difficulties.
Employers can lighten this burden by offering relocation assistance coaching that makes starting a new career in a new city less daunting. Coaches assist all household members to not only transition seamlessly but excel in their new locations. Nearly 80% of HR leaders surveyed reported that sessions with a qualified coach can improve overall satisfaction with the move.
Get your copy of the survey results. Use the form at the right to view the study!
Of HR leaders say issues associated with relocation have surfaced more in recent years.
Relocation Solutions Employees Expect
The job market has changed, and employers no longer have the upper hand when hiring qualified candidates. Today’s talent is prepared to take risks to leave an unsatisfactory workplace, as made evident by the Great Resignation beginning in 2021.
To attract the leading members of the talent pool, employers must consider the wellbeing of their employees throughout all stages of the hiring process and even after the move.
Types of Relocation Solutions
There are four popular approaches to successful relocation programs sponsored by employers.
- Managed Cap – Employees can spend up to a certain amount with an approved list of relocation service providers.
- Core / Flex – Employees get a set of “core” services and then may choose from a menu of optional services. The employer typically outsources the program to a relocation management company that vets and manages all suppliers.
- Lump sum – The employee is paid a set amount (usually tied to job grade level) and the employee decides how to spend it. While this program is seen as the easiest to administer, the downside is that employees may not spend funds in ways that truly support their relocation success.
- Hybrid – Some combination of the programs listed above.
Stay Competitive with Updated Relocation Solutions
To have a chance at hiring top talent, relocation solutions need to include plans for not only the employee but for loved ones as well. A comprehensive relocation package that shows care for the wellbeing of the employee and considers the needs of all members of the household is essential for successful recruitment.
IMPACT Group’s relocation solution provides the services necessary to attract and retain desirable candidates while providing care for the wellbeing of an individual employee.
My coach really helped me understand what I wanted out of my career and gave me the confidence to go after it. I secured a job I enjoy and feel passionate about. Creating a focused action plan with my coach helped me find that.
– Kyle Binns, Relocating Spouse
The Rundown on Relocation Solutions
Starting a new career in a new location is a difficult and stressful endeavor, but it doesn’t have to be. Many young workers rely on relocation solutions to jumpstart their careers and employers show care and wellbeing for their employees by providing helpful relocation packages.
IMPACT Group offers a key strategic component of the Employer’s relocation solution: Relocation Assistance Coaching. Our programs, including Relo ReThrive™ coaching and spouse/partner job search coaching can help ease the stressors of relocation. Our certified coaches have experienced career moves themselves, from both ends of the spectrum, and are fully equipped to guide new talent.
Contact us today to get more information on our relocation assistance services!
Don’t Miss the Relocation Survey Results!
Get your copy of the study. Find out what others are doing to attract and entice top talent to make a move. (See form at right.)
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