Beyond Cost Calculating: How Relocation Technology Boosts Strategic Decision Making

Posted by Ryne Inman on Feb 21, 2017 8:22:53 AM

relocation technology

Technology solutions are intended to simplify processes and amplify results. Sometimes, a product does thisby automating a task or making it easier to complete them. Other times, a technology unlocks new potential, on top of completing a task.

Think of the difference between the two like you would a calculator and a spreadsheet. A basic calculator can save you inordinate amounts of time that would be spent doing math by hand or even in your head. A spreadsheet, on the other hand, allows you to create vast, complicated datasets that interact and compute on their own.

The key differentiator between the two? Data, and how you interact with it. Relocation isn’t just a list of values you add together on a calculator. Cost is of course a major factor, but the many ways that figures interact and shift creates the need for flexibility. Until tech entered the industry, it seemed that relocation would be locked in a rigid structure. That’s changing now, and relocation has unlocked programs so that they can craft policy using newly-available data.

The most important tech revolution of the past 5-10 years has been the ascension of data-driven decision making. With the mobile and internet advances finally settled as the status quo, the use of data generated by software has become just as powerful as the tech tools themselves. For relocation professionals, this means new areas of strategic decision making have emerged.

Trend Tracking

It is now more possible than ever for mobility professionals to identify and adapt to trends as they are happening. Obviously, having the agility to make course corrections will give you a strategic advantage over competitors. If you’re seeing a trend of employees going over their budgets, or having difficulty securing housing, you can readjust priorities and benefits to better cover the common needs of transferring employees.

It sounds very simple, but requires open, unbiased eyes, and sound, forward thinking to be able to execute. This is not possible in a traditional relocation program. Only through technology do these operational efficiencies emerge.

Forecasting

One blind spot for many departments is the time between an employee moves and when an invoice or reimbursement request is filed. Until that time, it’s unknown just how much of a budget was going to be spent. Combined with uneven invoicing schedules, payroll compliance, and all the other complexities of tax law, the actual amount spent took far too much time. With relocation technology, this changes. When employees book services through a software solution, you can see how much each one is spending, and even how far along in their process they are. You’ll be able to more accurately predict your upcoming expense on a department level.

Supplier Success

Even if you can correctly predict the amount of total spend for each employee, you still would prefer that they come in under budget. With a relocation tech product, you can be sure that employees are getting the best combination of value and service. Verified, trusted vendors not only ensure your transferees are getting fair prices, but also exemplary service.

relocation for tech companies

Topics: Relocation Management Software, February Blog

Speak the Same Language as the Companies You Partner With—It's More Important Than You Think

Posted by Aria Solar on Feb 20, 2017 2:24:28 PM

relocation for tech companies

When one company decides to enter into a relationship with another—regardless of how small that partnership might be—it’s important to ensure that both are agreeing to something mutually beneficial and equally productive for each party.

In order to uncover these answers, there are three questions that you need to ask yourself and your team.

1. Are we on the same page with this potential partner?

2. Do their goals and mission align with ours?

3. Are we speaking the same language?

If you can confidently answer "yes" to these questions, then you're on the right track. And while the first two questions probably sound familiar (and maybe even a little obvious), the third might be one you haven't heard before, and it's a question many of us don't consider often enough. 

Are we speaking the same language? 

Businesses that share similar in a mindset—especially when that mindset is aligned in regard to levels of urgency and responsiveness—know how to work together in order to get the engine up and moving in the most efficient way possible. That window of time becomes smaller and smaller (in a good way) when communication across companies is done similarly to how communication is done internally. Companies within a similar industry are exposed to the same words and phrases, they experience similar roadblocks and challenges, and their overall mission and goals are generally aligned with one another. 

Let's take tech companies for example.

When one tech company chooses to partner with another tech company, the relationship is—by nature—fundamentally easier to manage. This is true first and foremost because each are built upon the same structure, sharing a similar mindset in their understanding for how that structure scales. They likely use (or are at least familiar with) the same tech solutions, they speak with the same industry jargon (often incorporating those concepts into their strategy), and they don't have to spend time getting on the same page—they start on the same page.

This allows the ramp-up time to decrease, and the time spent identifying goals, expectations, and a detailed plan for how to get there, to significantly increase.

Whether someone is an Account Manager, a Marketing Coordinator, a Relocation Consultant, or a Product Engineer—everyone is working under the same circumstances and in a similar environment. Sure, two companies might categorize themselves in a different genre or focus on a different core competency, but within the tech industry at large, there is unison in the shared preferences of those in the community.  

Think of it this way: two tech companies probably aren’t going to spend 8 months going back and forth redlining a 20-page contract via fax—their outlook on how they choose to define efficiency is simply different than that, and it's something that goes beyond just internal preferences. 

Put simply, there’s a level of camaraderie among companies working within the same industry, and it should be leveraged in order to work faster, communicate easier, and yield results that shatter our expectations.

relocation for tech companies

Topics: Technology, February Blog

How Obsolete Tech Relocation Solutions Can Shake New Hires' Confidence In Your Company

Posted by Ryne Inman on Feb 14, 2017 8:13:00 AM

relocation for tech companies

Having an elite set of benefits is an essential way to recruit the best and brightest talent. In a crowded, competitive space like the tech industry, where talent shortages are common to the point of constant, companies are willing to do almost anything to secure their next critical hire.

Unfortunately, impressing a candidate with a list of benefits is much easier than impressing them with the administration of said benefits.

This is no more evident than in your distribution of relocation assistance packages. It’s one thing to give them a financial safety net to execute a move, but we can all accept that moving, especially long-distances, requires so much more than just a cash transaction.

For many tech companies, talented candidates and employees are attracted to the revolutionization of arcane processes, the democratization of information and services, and being on the first wave of new, emerging technology.

So it should be remarkably clear how an insufficient relocation experience, or worse, an unpolished and ineffective relocation tech solution can reflect poorly on your company as a software and tech player. The culture and ethos of a tech company needs to penetrate it on every level. 

Any relocation program not integrating software as a core component is not meeting the minimum standards of the industry, let alone leading at its vanguard. Tech options have moved from only being applicable in fringe moves within a limited set of circumstances to being poised to the preferred solution over lump sum and expense reimbursement programs.

Not only is this important for building a cost-effective and high-performing relocation program, but the fact is that many tech employees enjoy and value interacting with and using software solutions.

A polished, effective tech solution will confirm with that employee that they are working for a company that just gets the goals and values of an innovative software company.

relocation for tech companies

Topics: Technology, February Blog

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