So, your employer is ready for a formal relocation program—that’s great! A strong relocation program will broaden your talent pool and boost your hiring rates. Given the ongoing labor shortage, it’s a smart move.
But developing a relocation program from scratch isn’t a snap; there’s a learning curve. And whatever you come up with…well, chances are, you’ll be living with it for a while.
That’s why it’s important to steer clear of the most common pitfalls—including and especially these.
A corporate relocation program is an investment—one that, done right, yields a solid ROI. But like any serious investment, you need to do your research.
Yes, the first question management will ask is: how much will it cost? But you can’t set a budget without knowing what you’re budgeting for, which is why you should first determine:
…and more!
As a relocation newbie, you can’t figure this out on your own. So, start talking to your peers and partners about their relocation programs. Reach out to some relocation management providers, picking their brains and requesting proposals. The more you know, the more realistic your budget.
When designing relocation policies, it’s tempting to go heavy on rules and limitations, dividing various benefits into rigid little buckets. The problem is, this tends to backfire.
Every employee’s move is unique. Imposing too many limitations not only frustrates new hires who can’t plan the move they need, but ends up flooding your staff with requests for exceptions.
Instead of rules, think in terms of flexibility. Give people the latitude to personalize their relocations, and everyone will be happier.
There are employers who can handle their relocation program effectively in-house, but they’re the exception, not the rule.
In most cases, when relocation is managed in-house, it’s delegated to some ill-equipped HR professional who already has a very full plate. As a result, the program never gets the attention it deserves, problems are handled reactively, and things occasionally fall through the cracks.
The last thing you want is new hires who’ve had a nightmarish relocation experience and stressed-out staff who feel set up to fail. Don’t go there!
When requesting proposals, don’t limit yourself to a single relocation company. For one thing, you’ll learn a ton by talking to multiple providers. For another, relocation providers operate very differently. Services are structured differently, and fees vary—by a lot!
For example, when employers move from another provider to UrbanBound, they save an average of 66%! That’s how much variance there is in the industry.
So, don’t sign with the first provider you meet with. Keep in mind: a great provider WANTS you to check out the competition, because it’s confident it has a superior program.