The UrbanBound Blog

UrbanBound's Upcoming Webinar: The Forgotten Benefits

Posted by Aria Solar on Jul 28, 2014 11:37:37 AM

It comes as no surprise that every relocation is different.

As many of you have probably have learned (maybe even the hard way), every relocating employee requires a unique set of needs that they feel are crucial to the success of their relocation. Seeing as relocations can get pretty pricey, you are going to do whatever you can to ensure that the relocation experience is one of positivity and excitement instead of stress and anxiety.

This is why we stress so highly the importance of understanding and strategically implementing the different areas of support for your transferees. Offering homefinding trips to someone that has lived in that city before might not be very beneficial, but to someone relocating for the first time, these trips can be invaluable. Giving spousal assistance might not mean much of anything to a Millennial fresh out of college, but could be a game-changer for someone who has a family and a spouse with a full-time job.  shutterstock_103680230 

Giving attention to the benefits that sometimes fall between the cracks can not only make the relocation easier and more seamless for the transferee, it can give your company a leg-up on competition.

Not everyone is offering these unique benefits, so for you to be prepared and understanding of the stresses of your employees, you are going to stand out. 

Your employees are looking to you to be the expert and provide them with the tools they need to make their relocation successful. Make surey ou are doing everything you can to take on this role - join our webinar Wednesday July 30th, from 1-2 pm CDT to learn about the benefits often forgotten about during a relocation and why they're important!

Some of the "forgotten" benefits that will be discussed are:

  • Homefinding Trips

    • Why they are important, how many your company should be offering to each transferee, and how to best implement them in your relocation package
  • Cultural Assistance

    • What causes culture shock, when and how your company needs to address it, and a few tips for welcoming your expatriate back after their assignment
  • Temporary Living

    • Options you can offer to your transferring employees when temporary living comes into play, the kinds of costs your company is looking at, and cost-saving routes you can take
  • Spousal Support

    • Reasons why spousal support is such an important factor to take into consideration in a relocation and the reasons why your company needs to be paying a lot of attention to this far too often forgotten benefit
  • Lifestyle Transition Assistance

    • The different categories that fall under this area of support and instances in which this needs to be offered as a stand-alone benefit

Think you company could take a thing or two away from the areas to be discussed in this webinar? Register for by clicking the image below:

 

 

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Topics: Policy, Relocation

What You May Have Missed in Chicago Innovation

Posted by Kinga Skowronek on Jul 25, 2014 3:41:00 PM

 

Innovation is changing the way we live and affecting everyone all over the world. Chicago’s getting into the tech game in a big way as Mayor Rahm Emanuel makes it his mission to grow Chicago into a leading tech innovation hub. Read on to learn about some of the tech and innovation that’s taking place in Chicago.

The Lamps in Chicago Are Watching YouChicago Innovation

The lamp posts lining Chicago’s iconic Magnificent Mile are going to be doing more than just providing light for pedestrians. According to Bloomberg Businessweek’s article “Chicago's New High-Tech Lamp Posts Will Track Everything, Always” the city is attaching hi-tech sensors to lamp posts along Michigan Avenuethat will collect data on foot traffic and patterns, air quality, sound volume, heat, light intensity and precipitation. 

"Transparency combined with accountability (anyone will be able to scrutinize the data-scooping code) should reassure skeptics," says Charlie Catlett, one of the project’s organizers and the director of the Urban Center for Computation and Data.

Although the data collection is an endeavor to make Chicago a safer and more pleasant to live in, it’s probably a good idea to think twice before walking down Michigan Avenue since the data will be viewable.

 

Chicago Innovations That Changed the World

We Chicagoans are very proud of our vibrant and exhilarating city! And there are many reasons to be proud; great innovations have come out of our city.

  • The Cell Phone. The inspiration came from Star Trek, but the inventor, Martin Cooper, hails from Chicago.

  • The Ferris Wheel. Considered at that time to be the proudest achievement of the modern engineering era, the ferris wheel made its debut at the 1893 World’s Columbian Exposition in Chicago.

  • The Vacuum Cleaner. Before Chicago’s Ives W. McGaffey invented the vacuum, the needing to clean up meant sweeping up.

Read Blue Sky’s article  “Top 20 Countdown: Innovations in Chicago that Changed the World” for the full list.


Chicago Students Are Given Access to Technology at the Shedd Aquarium

The Chicago Sun Times features the Shedd Aquarium to show how they are helping to build Chicago’s innovation and technology hub by offering free technology access to local high-school students.  

“Sometimes if you want to do a project or have something in your mind that you’d like to pursue, if it’s not part of a school project, it’s really hard to find resources by yourself,” said Brian Gomez, a student who helped design the lab. “The Learning Lab really helps teens develop their ideas.”

The Learning Lab gives students access to Apple computers, printers, iPads and is equipped with 3D printers and it allows high-school students to explore their interest in innovation and technology.


Innovation Takes Flying Indoors at iFly

If jumping out of a plane seems too crazy for you, but you want to experience the feeling of flying then you’re in luck because iFly Indoor Skydiving has opened its doors in Chicago.

How does flying affect your thinking about risk and innovation?

“It takes a lot of trust to go in, and it’s the unknown. We're putting people in an awkward situation. It’s human habit to want to grab for something and tense up. If you’re moving a lot, it disrupts the airflow so you tend to go lower down the net, and the instructor will come help calm you down and get you into the proper body position. We show them that they can fly and just trust the air. It gets you to trust your co-workers,” answers Scott Langdon, Regional Manager.

As innovation and technology are changing the way many industries provide a service and the structure of many businesses, it is important to keep on trend. 

 

 

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Topics: Chicago

The Statistics Behind the Hiring Process

Posted by Jordan Gavens on Jul 24, 2014 11:49:00 AM

Recruiting new talent is crucial for the growth of any company. New hires can bring in a refreshing sense of energy, unbiased outlooks, and unique approaches to any office culture. While every recruiter wants to find only the best for their business, they must find a way to do so without burning a hole in the company’s pocket. It is important for any HR department to follow the most efficient, effective, and especially money-conscious, hiring practices while drowning in piles of resumes and cover letters.

Sound impossible? Absolutely not.

Software Advice recently published results from their advertising cost-per-hire survey. After collecting 130 responses from recruiters and HR professionals in the United States, Software Advice analyzed the results to help determine what, on average, companies in North America are spending in advertising costs for each new hire they bring on.

The base of the survey started with a flashback to high school algebra. The cost-per-hire algorithm, created by the Society for Human Resources Management, calculates the average advertising cost-per-hire. Don't remeber this from school? Let us refresh your memory:

(A + B) / C = CPH
A: External Costs
B: Internal Costs
C: Total Number of Hires
CPH: Cost per Hire

Once this algorithm was calculated for each participant, Software Advice arrived at three conclusions:

 

1. Companies spend, on average, $86 on advertising for each new hire

Spending money on advertising for new hires is extremely important to get your company’s name out there and to get top talent banging on your door. Whether it is through job boards, social networking sites, or attending campus recruiting fairs, HR departments need the proper funding in order to bring fresh talent into the company and keep the rate of employee growth on a positive slope.

In the study, approximately one-third of respondents reported spending less than $50 in advertising costs to recruit each new hire, while the vast majority of respondents (78 percent) spend less than $500. Therefore, if you are a HR professional or recruiter and you are spending more than $500 on your cost-per-hire, sorry to say that you are an outlier and may want to take a few notes on how to decrease your cost!

 

2. Small companies spend more on average for each new hire than large companies

Software Advice reported that the average cost of each new hire tends to decrease as the size of business increases. Companies with 1-50 employees averaged $320 per new hire, while companies with more than 5,000 employees averaged around $40 per new hire. Onboarding can be an extremely time-demanding project. It can cost up to 1/3 of an employee's salary to onboard and train new hires, especially when that employee's job description does not have to do with onboarding. Therefore, if a small company has a flawed onboarding plan, they risk having a bad retention percentage which can be extremely costly.

When it comes to advertising budget, generally speaking, the larger the company, the larger the advertising budget. This statistic makes sense, since larger businesses hire and onboard a larger number of employees than small businesses. Results showed that companies with 1-50 employees hired, on average, 13 new employees over the course of the past year, while businesses with 10,001 employees or more averaged 2,181 new hires. statistics behind hiring process

These statistics aren’t meant to make small company’s start shaking in their boots. Small companies have a lot to offer that larger companies have a more difficult time providing. Take a look at startups. Startups, like UrbanBound, are becoming much more popular and attractive as career starting points for Millennials. They offer the opportunity to really network with your coworkers (since it is a small environment), foster your creative energy by having the ability to speak your mind, and actually be part of contributing to the growth of the company. So if you are a recruiter for a small company with a low advertising budget, don’t fret! There are thousands of Millennials out there searching for a company like yours. 

 

3. 72% of respondents said job boards were a primary advertising channel for their companies

Today, technology is king and every department of your company must learn to adjust around that. Whether it is using software platforms like Hireology during the hiring process or implementing HR technology, both can increase your productivity and guarantee a return on your investment by helping you to easily find and distinguish the cream-of-the-crop candidates.

Job boards are the ideal destination for HR professionals and recruiters to post about position openings. When an individual is on the hunt for a new job, the first place they look at is a job board - seeing as its sole purpose is to seep through all of the open opportunities out there. Times are changing though, and there are numerous other platforms being used to advertise job openings. The report showed that social networking sites were the second most popular mean for advertising jobs.

Small businesses in particular should get creative with their job advertising through social media or guerilla marketing campaigns. Although they are dealing with a much smaller advertising budget than larger companies, there are many unique ways to attract talent that not only can save the company some money, but can highlight the company’s creativity and make it appear more intriguing to applicants. Need some inspiration? Check out how IKEA Australia brought in 4,285 applicants without spending even a dime. Screen_Shot_2014-07-24_at_11.13.33_AM 

Businesses must keep track of their cost-per-hire metrics in order to keep their office productivity level as high as possible. Consider hiring a web-based platform like UrbanBound to handle the relocating process so that your employees can focus on getting their jobs done.

The goal of every company should be to keep their turnover rate low and retention rate high. By paying attention to these statistics and making a focused effort on budgeting during the hiring process, this should not be a problem for your company.  

 

Want to know more about how you can best improve your onboarding process? Download our eBook to get a welcome kit for your new hires!

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Topics: Response, HR

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