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3. Not providing enough budget for employees to complete their relocation.
An employee moving to accept a role and make a big impact at your company and on your bottom line, deserves to be taken care of. Shortchanging an employee or requiring they come out of pocket to move can be more than they may have bargained for.
Expecting your employee to complete their move “on the cheap” is simply adding additional stress and work on the employee. It also adds additional stress to significant others and/or family members that are sacrificing to relocate with the employee as well.
When you think about upping your per-employee relocation spend, think about the employee experience. Simply spending a bit more upfront to ensure your employees have a positive relocation experience can ensure you save hundreds of thousands on turnover later.
4. Going it alone.
You need a partner you can trust! Employing a Relocation Management Company, or RMC, that is truly an extension to your team pays dividends in time and money!
A RMC provides support to your team and your relocating employees. From the employer side, a RMC partner will assist with benchmarking your program so they can walk through your relocation policy benefits with you to ensure your organization and employee needs are adequately addressed. They’ll handle the heavy lifting of vetting suppliers and offering solutions for reimbursement and even exception requests. They’ll even provide in-depth reporting so you know where you stand at all times.
On the employee-side, a modern RMC can provide access to a 1-on-1 Relocation Consultant that will walk your employees through their benefits and assist them with their relocation timeline. They’ll also provide 24-7 access and support to your employees via technology. This will alleviate stress and allow your employees to access their benefits, demographic and area information and provide a visual representation of their relocation timeline anytime they need it.