How competitive are your company’s executive relocation benefits? If it’s been a while since you’ve reviewed your top-tier relocation package—let alone upgraded it—now’s the time.
After all, the Great Resignation goes all the way to the top. According to SHRM, management-level employees are job-hunting at twice the rate of individual contributors, burned out by two years of pandemic-related challenges.
Yes, it’s impacted the C-suite. In the last quarter of 2021, 16% more CEOs left their positions over the prior year, per Challenger, Gray & Christmas, which tracks executive turnover. Among private industries, technology and healthcare are the hardest-hit.
So, if you aren’t already recruiting at the executive level, you may be soon—and the competition is fierce. Be ready!
Today, successful recruiting is about more than offering top compensation. Wearied by COVID, executives, like everyone else, are seeking greater quality of life, starting with a more equitable work/life balance.
That’s why offering standout executive relocation benefits is so important. It’s a powerful recruiting advantage—one that can set employers apart when seeking top talent to fill those key management positions.
Often, one of the challenges of enhancing executive relocation packages is that they’re already pretty impressive. Most executive relocation packages already cover:
In addition, executives expect to be paired with a relocation specialist who will help plan and oversee their move.
So, with all this already on the table, how can employers up their game?
Now, here’s some refreshing advice. Instead of increasing the dollar amounts of your relocation benefits, think in terms of enriching the relocation experience itself.
Under the best circumstances, moving is stressful and complicated—so any way you can make it easier and less-stressful is a big deal. To that end: