It is a positive sign when your company is experiencing a hiring surge. However, it has the potential to be an enormous burden on HR departments. During these times of growth, HR professionals are tasked with not only bringing in new talent at a steady rate, but also relocating an increasing number of these employees. Correctly gauging mobility operations is difficult, and it can greatly affect a company’s future. It is crucial that HR and recruiting professionals understand and implement the most effective ways to predict relocation budgets and avoid mistakes when developing benefit packages. The following are common mistakes we see companies make when dealing with a relatively sudden high volume of transferees.
Updating the technology your company uses in all aspects of your business is extremely important. Technological advances and tools can continually improve the way your company runs. If ignored, you can quickly fall behind in your industry. This is also true for technology in mobility services. Many transferees will expect the ease of using a mobile app to conveniently keep track of receipts and other expenses. Client portals and timely communication are also considered the norm in today’s mobility market. Dismissing the importance of updating your technological tools can be detrimental to your level of service and accuracy of data to measure results.
2. Not Using Estimates for Each Relocation
Estimates serve a multitude of purposes when trying to efficiently manage your relocation funds. It is wise to track all actual costs and estimates for comparison. This way, every detail and expense can be analyzed regularly. Companies that monitor these differences tend to have better equipped staffs, and they are also more prepared for unforeseen expenses that are inescapable during certain moves. It is also wise to have individual estimates since each transferee is moving under unique circumstances. At Relocation Coordinates International, we have found the most cost-effective way of relocating does not follow a one-size fits-all program. The single way to improve your company’s mobility policies is to monitor data and learn from each relocation.3. Complicating the process
Especially if you handle relocation in house, keeping the process simple is difficult, but it is absolutely necessary. Carefully regulating who is involved is critical to obtaining accurate numbers and keeping transferees satisfied. Having a relocation company in charge of your mobility benefits can greatly decrease the workload on your company and minimize the chance of error. A high quality mobility services provider will have the proper technology and information measurement tools as well as the ability provide an excellent client experience.
4. Ignoring Market Changes
The mobility industry is experiencing rapid change. Companies’ mobility programs can only remain successful if they are adapted when change and challenges arise. Keeping up to date with transferee demographics and preferences is often up to HR, but can also be trusted to relocation experts. Just because a certain type of program and budget have worked for one level of employee for a decade, does not mean it will continue to do so indefinitely. Do not fall into the trap of collecting data with no intent to use it. Research, evaluate, and implement new ideas whenever they seem necessary for your company and transferees. And note, numbers are useful, but personal observations can also determine issues on an experience level. Our Relocation Coordinates International team collects surveys and conducts “check ins” throughout the move to ensure all the transferee’s needs are met.
The procedures you create are a way to protect your company’s relocation program and finances. It is important that HR professionals avoid these mistakes by taking decisive actions and looking toward the future. If you have questions are need assistance, connect with mobility program specialists and feel free to contact us to discuss personalized relocation management options for your company.