Stay up to date
Subscribe to the blog for the latest updates
Your HR software’s analytics feature should allow you to track retention metrics, comparing those of relocated employees to their peers. Be sure to monitor:
- Retention rates (the percentage of each group’s population that terminated employment) and
- The average length of employment for each group
Performance assessments are composed of multiple factors, some subjective, but you may discover some helpful insights by comparing the performance reviews of relocated and non-relocated employees. For example:
- Does one group score higher than the other in overall rankings?
- Are members of one group promoted more frequently and/or rapidly than the other?
- What percentage of management has experienced relocation vs. the percentage of your overall workforce?
Post-relocation Satisfaction Surveys
It’s always valuable to collect feedback from newly-relocated employees. Many relocation companies ask employees to rate their relocation experience, and this is something employers can do as well, using that feedback to continually improve their offerings.
By the way, at UrbanBound, we’re big believers on measuring user satisfaction. For example, we’ve earned 4.8-stars on Google Reviews from our clients’ employees, as well as 4.9-stars on Capterra from our corporate clients.
Don’t Forget Relocation Program Costs!
No discussion of ROI is complete without considering the costs of providing your relocation program. Obviously, costs vary widely, depending on what benefits you provide and your choice of relocation provider.
For example, relocation programs administered by tech-based relocation providers like UrbanBound are much more economical than traditional relocation companies, because technology is much more cost-effective than manual labor.
Likewise, relocation providers that negotiate discounts with vendors—also like UrbanBound—are more cost-effective than those that tack commissions onto vendors’ fees (which, surprisingly, many still do).
While calculating the ROI of relocation benefits isn’t cut and dry, the key to improving it is—it’s by offering employees the best possible relocation experience at the best possible price.