Job relocation can be overwhelming and stressful for employees and their families, which is why many companies will provide some kind of relocation benefit. However, relocation can be costly for employers, and in many cases, hard to predict. There are a number of different moving expenses, and depending on how much a company is willing to help, the actual cost of the relocation can vary.
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According to a recent study conducted by Glassdoor, 28.5% of job applicants are looking to relocate to a new metro area. Whether it is within an existing company or in search of new opportunities, there is no doubt that the urge to relocate is growing within today’s workforce. Understanding who is moving, why they are moving, and where they are moving to can help companies better cater to their current and potential employees.
For your company to thrive, you need the right talent in the right locations. While some of this can be resolved with skillful recruitment and hiring, it may be necessary to relocate both new and current employees to boost performance and productivity. However, relocating can be stressful for employees and their families and, if not managed carefully, can impact your company’s bottom line. This is why it’s important to be prepared for possible issues that may arise. Below, we’ve outlined a few things for you to consider.
