Your workforce is changing—and your relocation benefits should be, too.
Baby Boomers are retiring. Gen X is advancing. Chances are, your recruiting efforts are increasingly focused on Millennials and Gen Z. And each generation has its own priorities and mindset.
Frankly, as Baby Boomers retire, some old-school relocation practices should be retired, too—because they simply don’t resonate with young professionals.
If your goal is to recruit Millennial and Gen Z superstars-in-the-making, your relocation benefits must appeal directly to their hearts and minds. So, how do you wow them?
You start by incorporating these five “next-gen” elements into your relocation plan.
Younger consumers, especially Gen Z, crave the ability to personalize everything—and that includes relocation.
The solution: offer flexible relocation policies—i.e., lump sum and managed benefit plans—rather than traditional, highly-structured policies. Give them the latitude to custom-design their relocation around their lifestyle.
For example, young, single professionals may not need an elaborate household goods move, because they haven’t acquired many belongings. But they may want extra house-hunting time in order to find that perfect condo. Give them the freedom to make their own choices.
Millennials and especially Gen Zers are digital natives. They’re not just fluent in technology; they expect and demand it in every facet of their lives, including their relocation benefits.
Is your current relocation provider still largely paper-and-people based, or is it truly tech-based? Here’s how to tell. If it’s fully tech-based, your employees can easily manage all of these tasks online:
If that’s not in case, it’s time to make a change!