Core/flex plans provide the flexibility employees want – but transferees need an accurate understanding of their options. Let your transferees be assessed from the start of their relocations so they better understand their needs and make informed decisions that are right for them.
Flex dollars or points, similar to lump sums, may not be strategically allocated by transferees due to lack of knowledge about certain options or inexperience with moving. For example, while not everyone needs spouse/partner job search and community integration support during their relocation, people often discover that it is vital to a successful transition once the move is in progress.
For this reason, assessments are crucial. Let IMPACT Group provide complementary assessments to analyze their needs/concerns and ensure a successful transition for both them and your company.
Quick moves need quick assistance.
On average, employees and their families have just 46 days to consider the offer, accept the move, and relocate to the new area*. While they scramble to make things happen in a short timeframe, they often only focus on their short-term needs – such as household goods shipping and temporary living accommodations.
If you allow IMPACT Group to assess the needs of all eligible transferees, you’ll see a greater willingness to relocate and a more productive transition. We help them determine their long-term goals and challenges so they see the clear path forward at a faster pace. Items that are not addressed now can lead to concerns and issues down the road. This is what makes the assessment vital when they are selecting flex options.
How IMPACT Group’s services changed a relocation.
“I was unsure if I would find the service useful; I was wrong.”
Job Search Recipient
“The unexpected benefit…turned out to be one of the most valuable sources of information during our move.”
Community Integration Recipient
“I really didn’t have an opinion when my company offered this service. However, my opinion has changed. [This service] was instrumental in me landing a job. It would not have turned out as well without their support.”
Job Search Recipient
Spouse/partner career support generates a huge savings for the couple.
Did you know that 78% of millennial** couples and 73% of Gen X*** couples are dual income? Research shows that individuals are 2.67 times more likely to land a new position when they engage job search support. In additional, a spouse/partner’s job is the #2 reason relocations are refused. There is a good chance your transferee is dependent on a second income, making spouse/partner career support a vital piece of a relocation package.
The average duration of unemployment was 28 weeks in October according to the Bureau of Labor Statistics. On a median salary of $60,000, that equals $30,000 in lost wages for a relocating couple. IMPACT Group typically helps clients land positions in less than 14 weeks on average, resulting in a substantial salary recuperation for the family.
It’s a family matter.
Family resistance to the move was listed by 60% of respondents as a major reason why employees are reluctant to relocate (2015 U.S. Transfer Volume and Cost Survey). Integration support can alleviate those concerns. Proactive coaching throughout the process allows an employee and their spouse/partner to shed light on the areas of their life that need immediate attention. They can also leverage the coach’s expertise to develop a strategy for prioritizing and addressing those needs.
This type of support is invaluable to the ultimate success of the move. The 2014 Cartus Relocation Survey found that the inability of the family to adjust is the #2 reason assignments fail (61%, up 17 percentage points from the 2012 survey). It should go without saying that family concerns need to be addressed from the start of the relocation.
Your employees and their families are IMPACT Group’s top priority. We’ve seen the difference our customized job search and community integration solutions can provide. Let us assess if our relocation services are right for your transferees. Contact IMPACT Group today!
*2015 U.S. Transfer Volume and Cost Survey, Worldwide ERC
**EY Work Life Challenges Across Generations Global Study, Ernst & Young
***The Cost of Doing Nothing, United States Department of Labor