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Posted by Ryne Inman
Benchmarking data is the key to understanding your relocation programs current effectiveness, but it’s also
crucial to your ability to hone it and expand it.
This doesn’t happen just on your end of the process, and unless you’re the luckiest person on earth, that means you’ll have to convince someone higher up in your company that further investment is necessary.
Your program’s performance data gives you a baseline reading of how it performs overall. While you should always be looking to improve it, there are two specific occasions to specifically target it for investment:
1. When it's lagging behind industry and competitors’ standards
2. When you need to expand it to gain a competitive advantage over your competitors.
In both cases, an improved relocation benefit is meant to make recruiting the best talent easier.
A steady and supported relocation program is an investment in securing the best talent for a job, regardless of borders. Any case being made for increasing the amount of investment in a program needs to have this at the core of the argument. And there needs to be data to support the claim being made. This is where your data comes in.
By presenting the current state of your program, and comparing it to industry standards, you can easily tell the story of where you are and where you believe the program should be. The data is the brains of your case, but the heart of it has to come from the story you build around that data. Using these in tandem will make your pitch more likely to succeed.