How to Attract and Retain Millennial Talent Using a Transparent Relocation Policy

Posted by Lauren Decker on Jun 30, 2016 9:43:21 AM

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46% of Millennials say they would like to leave their current company in the next two years, according to Deloitte’s 2016 Millennial Survey.

This means that almost half of Millennials are considering leaving their company in the near future—which is pretty alarming, especially since they're the largest generation in the workplace today. 

Many companies are still figuring out how to attract top Millennial talent to their organizations, and now employers need to focus on retaining that talent almost immediately after they hire and train new employees.

The good news is, Deloitte has provided some guidance to retain talent, including “Identify, understand, and align with Millennials’ values.” This is a great starting point for delivering on the expectations and needs of your Millennial population. Understanding Millennial values and incorporating them into your organizational process should be factored into every aspect of the employee experience, including relocation.

If you’ve done any research into Millennials, you’re probably familiar with these values, which include a sense of purpose, authenticity, and transparency.

Millennials have helped push for transparency in business since they first entered the workforce. Being clear with Millennials can help you build trust with this traditionally “non-loyal” group of employees.

For relocation, this means making your relocation policy accessible and providing details regarding what those benefits do (and don’t) include.

Some companies are hesitant to talk about their relocation program with new hires and even employees. The reality is that relocation can be an incentive for some people, specifically Millennials. Many Millennials are seeking professional development opportunities in their career and may see relocation as an opportunity to expand their skillset in a new position or location.

If your employees know you offer relocation benefits, it ensures Millennials are aware of other opportunities within the company. For you, this may provide a chance to keep Millennials engaged within your company, instead of looking for challenges outside.

Within your relocation policy, you also want to make sure your benefits are clearly outlined and detail what’s included, what’s not included, and what the benefits caps are. Relocation benefits should be described in a way that’s clear and leaves no room for ambiguity. One of the most important aspects is to include specifics about any limitations or parameters related to the benefits.

For example, if you are offering direct bill benefits that include household goods shipment and final travel, then list the maximum amount the relocating employee can spend on these areas.

Some companies are concerned that providing the maximum amount available will encourage employees to squeeze every penny out of their budget. The reality is that if employees are given a budget, they typically work to stay within that amount (in fact, they’re actually a pretty cost-conscious bunch). Providing this level of visibility to relocating employees helps them plan ahead for expenses and budget appropriately for each area of their move. Most importantly, it demonstrates that you trust the employee to make the best decision.

Millennials value this level of transparency in every aspect of their employment. If they think you are withholding information, they may feel like you are hiding something from them. It’s best to be upfront about how much they have to spend, instead of anticipating the worst.

Another way to ensure relocating employees don’t overspend and also provide transparency is to clearly define what happens when they reach their budget. In most cases, the employee is responsible for any expenses incurred beyond the budget. You can take this one step farther and explicitly state that employees should not seek exceptions for the policy.

That being said, don’t write in a clause about exceptions unless you intend to stick to it, otherwise the effect could actually be opposite of what you intended. For example, if you do have a phrase in your policy that says “You should not seek exceptions to this policy,” but you often grant exceptions, it could actually deteriorate employee trust. The employees who ask for exceptions will receive them, but those who go by the rules will only receive the benefits outlined in your policy. If employees become aware of this, those that followed the rules will feel mislead.

If you haven’t reviewed your relocation policy for quite some time, now is the chance to review it through the eyes of a prospective employee or relocation candidate. Also, review the process of communicating your policy to recruits and existing employees. Are you proactively discussing it or keeping it quiet until it’s actually needed?

Millennials have proven to be a challenging generation to not only attract, but also retain. With that being said, Millennials bring a vast array of skills and a fresh perspective to the work environment. Aligning your company processes and policies to meet their needs and values will help ensure that you’re tapping into the best Millennial talent that will produce valuable work for your company.

mistakes when relocating millennials

Topics: Millennials, Policy, June Monthly Blog

HR Tech and Relocation: In the News

Posted by Kinga Ricci on Jun 28, 2016 12:44:44 PM

hr tech and relocationThe weekly HR Tech and Relocation news is in!

With so many publications, blogs and news outlets, it's hard to stay on top of things. Don't worry because we bring you the top weekly news from relocation and HR Tech.

We've rounded up the top advice and insights from experts this week. So, let's jump right in!

Read on to see what is trending in HR Tech and Relocation:

UrbanBound Honored with Highly Commended in Technological Innovation by Re:locate Awards

Hosted annually in London, the Re:locate Awards celebrate the contribution of relocation to global business and are a prestigious recognition of excellence in the relocation industry. In their 9th year of celebration, the awards attracted more attendees than ever before, only further proving the flourishing nature of the industry and the need for innovative solutions.

UrbanBound was proud to be nominated amongst great leaders in all types of relocation solutions including real estate, healthcare, serviced apartments, and many more. Due to the high standard found throughout the category and the significance of showcasing the breadth of new technology in the global mobility sphere, the judges additionally awarded Highly Commended to UrbanBound.  

"To be recognized on a global scale by the Re:locate Awards is a huge honor for UrbanBound," shared UrbanBound CEO and Co-founder Michael Krasman. "We are dedicated to providing innovative solutions for transferees and global mobility professionals, and it's exciting to watch our software satisfy their needs. It has been amazing to watch the evolution of the relocation industry over the past few years, and we are thrilled to be a part of that advancement."

“There were 15 entries for this category which ranged from healthcare, business travellers, removals, serviced apartments, home search and assistance with the wider relocation cycle. Through the submissions, it is clear that the global relocation industry is continuing to undergo a shift to become more focused on using technology for progressive business transformation, increased efficiencies, improved customer service and value add for the clients. Those shortlisted showed diverse and pioneering solutions to current industry challenges and offer examples of efficiency gains, improved customer experience, modernisation and added value that goes well beyond cost savings,” Hannah Stewart of AngloAmerican, lead member of the judging panel, said in the press release.

Lack of Data and What It’s Doing to Your Relo Program

The latest study from Ernst & Young (EY) shows that inadequate data is the leading cause for  inefficient global mobility programs and is the reason behind ineffective assignments, exceeding budget limits, and unintended tax obligations, according to the statement EY released — EY Study: Lack of Accurate Data Threatens to Undermine Performance of Global Businesses' Talent and Mobility Programs.

That’s a lot that can go wrong by simply not tracking the data and lacking the insight into your relo program. Unfortunately, not all HR teams have the necessary capabilities and resources in place to be able to effectively track data and progress of an assignment. Not to mention, the substantial time and effort it takes if an HR team has to manually gather, sort and analyze all that information.

Here are some key findings from EY's 2015-16 Global Mobility Effectiveness Survey:

  • 52% of companies don't have the necessary data to enhance insight into mobility plans
  • More than a third (35%) struggle to secure the right talent for mobility
  • 72% are not tracking the success of their international assignments

"Data analytics has become a critical component to the success of global mobility programs. It has evolved from programs that merely track assignments, to highly complex analytics that identify inefficiencies, improve compliance and identify and manage the risks associated with the mobility workforce," Leslie Fiorentino, EY Americas Mobility Leader, says in a statement. "Survey respondents are clearly aware of the need for such analytics and understand how vulnerable their firm may be without it. There has never been so much pressure to upgrade their systems and show value for mobility programs."

Read the full press release here.

Brexit — What Happens Now

The British Exit (aka Brexit) took over the press this past week as the UK made their highly awaited decision (based on popular vote) to leave the European Union. It was a close race through and through — the “leave vote” winning out by only 51.9% — and it has sparked a lot of controversy and uncertainty in what the future holds (not just for the UK, but globally as well.)

With so much going on, it may be hard to grasp all the different ways this decision impacts us.

In their article — Brexit and the Ramifications on Global Mobility— The Forum for Expat Management (FEM) addresses the impact the Brexit will have on our industry and the concerns many mobility professionals are currently facing.

FEM’s Courtney Ellis-Jones writes, “for global mobility professionals, the instability of what the future will look like means additional work and a considerable amount with very little insight to what they can do immediately and how to begin planning long-term to support the strategic aims of their organisations. The question this morning, outside of talent, is with an exiting Britain, will multinationals wish to keep their regional headquarters in the UK?”

Is the future of global mobility in the UK bleak? No, but at this time it feels that many aspects of the future of this decision have not been laid out. Leaving people in limbo with uncertain futures and unanswered questions, is not a place people want to be left in.

In the meantime, there’s been a surge in Irish passport applications — allowing those with Irish ancestors and citizenships to remain part of the EU. A Fifth of businesses eye post-Brexit move abroad - IoD survey, according to Re:locate Global. And there’s a petition going around the UK for a re-do.

Wish you didn’t have to stop?! No worries — there’s more where that came from! Check out these great reads from the past week:

Recruiting Secrets LinkedIn Doesn’t Want You To Know [HR Tech Magazine]

India – Relocation’s rising star [Re:locate Global]

Choosing To Be A Leader, Without Forgetting How To Follow [Talent Culture]

Ultimate Relocation Guide & Tips [move.org]

HR success requires digital transformation, but CHROs lack support [HR Drive]

Metrics That Matter [Human Resource Executive]

How Far in Advance to Plan Your Move [Hello Moved]

Which country has the happiest workers? [Human Resources Online]

The reasons why 75% of your staff use Facebook at work [Human Resources Online]

6 Steps To Bringing Your Performance Management Into The 21st Century [TLNT]

 

relocating millennials

Topics: Technology, Relocation, HR

Three Email Mistakes to Avoid

Posted by Ryne Inman on Jun 28, 2016 10:14:24 AM

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The “death of email” is a favorite subject of business and culture writers, and each new communication tool gets its turn to be the culprit, from voicemail to instant messaging to text messaging to apps like Slack, yet email is still central to daily business. 

You Misspelled Their Name

Full disclosure: This is going first because I am very sensitive to it. As the owner of a weird name, this is one that always stands out. Before responding to an email, check how their name is spelled in the From section of the email.

It seems like a small, superficial detail, but it undermines your credibility with the recipient. It’s also a good idea to check how the sender signs his/her email, as that’s how you know what name they prefer to go by. Using this name when addressing them instantly puts you on more familiar terms, and sets a positive, thoughtful tone for your communications.

Mincing Words

The english language has many words that essentially have no meaning when used in an everyday setting, “just” and “kind of” being two examples. These words are similar to the dreaded “um” and “uh” verbal tics that speakers spend hours removing from their vocabularies.

In some cases, these words are worse than meaningless, and can obfuscate your intended meaning. They insert doubt into the reader’s mind about the sincerity and confidence of your message. How much is something “kind of” something else? 45%? 80?

The reader has no way of knowing.

There are extensions for most browsers that will highlight these words and phrases and more, so that removing them is much easier.

Too Long / Too Short

Do you remember that time you sent a thorough, detailed message explaining an issue or how you solved a complex problem? And do you remember that time the recipient replied simply with “thanks” and it made you angry? Don’t do that to people!

A thoughtful message deserves one in return, and perpetuates a goodwill-based working relationship amongst your peers. By the same token, no one is reading a wall of text or the equivalent of a novel about confusion in Accounts Payable. If you have a longer message, use bullet points and organize your message thoughtfully. And, of course, if it is too complicated to explain via email, you can always try talking directly with the other person.

relocating millennials

Topics: Technology, HR

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