Our Relocation Coordinates International team is continually working on developing and enhancing our corporate relocation services. We are actively implementing fresh strategies for 2016, and the New Year means we have had the opportunity to reflect on what we experienced in 2015. As the relocation industry continues to evolve, there are important tips and trends we believe should influence your future relocation policy design.
Know Your Company’s Goals
Relocation Coordinates International observed almost all our clients undergo growth in 2015, and we predict this will continue into 2016. As an HR professional, be sure to discuss all possible areas of achievement and improvement with your company leadership. Be perceptive to your team’s changes and be open to adapting your relocation policy to remain aligned with these goals. Attracting, hiring, and retaining employees is greatly influenced by benefits such as relocation packages.
Our clients who improved their talent acquisition statistics in 2015 were proactive about modernizing their relocation benefits. It is just as imperative as updating your marketing tactics, services, and technology. Obtain detailed reports and updates on last year’s relocations and consider creating a well thought out presentation. Your mobility services provider should have the ability to send these numbers to you in a timely manner. If you do not utilize a relocation provider, you may have the burden of crunching numbers on your own. Backing up any requests to your company’s management or CFO with concrete data is a professional and reliable way to influence policy advancements.
Relocation is On the Rise
Due to a national shortage of workers with advanced skills, there are less and less employees with specialized experience to go around. According to a morganstanley.com talent acquisition expert, the “talent draught” will have a substantial impact on U.S. industries in the coming year. Companies will need to look outward to satisfy their need for high level talent. This means corporate relocation will be prevalent in 2016. It is essential that your company is equipped with the proper resources to accommodate numerous employee moves.
Relocation Packages Give Your Company an Edge
According to Forbes.com contributor Dan Schawbel, "More professionals are seeking contract or project-based jobs instead of full-time positions." As the freelance marketplace strengthens, hiring a full-time employee who has flexible contract options will require strong incentives. Augmenting a benefits packages with relocation options can give the extra push needed for candidates who are on the fence.
Schawbel also states, “Next year, more than 3.6 million baby boomers are set to retire and more than one-fourth of millennial workers will become managers.” Studies have shown millennials are inclined to value benefits and flexibility most when considering a position. Changing workforce lifestyles also have the potential to require necessary change in relocation. For instance, the bulk of millennials are marrying later and having less children than older generations. Many in the current workforce are also choosing to rent rather than own a home. It is details like these that can quickly render a once adequate relocation policy out-of-date.
As society progresses, family and workforce dynamics change. Ensure your relocation package is competitive and can accommodate families, individuals, homeowners, and renters in 2016. If you feel more moves would quickly overwhelm your staff and/or finances, consider collaborating with a relocation services provider. Just as outsourcing for recruitment and payroll services has become standard with most successful businesses, relocation is most efficient when trusted with industry experts.
For more information about moving forward with relocation in 2016 and our services at Relocation Coordinates International, visit our contact page or call (866) 915-8631.