Whether you’re a new and growing business or a lean, mean team that requires less manpower, it’s easy to pass off a relocation program as an expensive, time-consuming luxury, like golf.
But it doesn’t have to be that way. In fact, you could be hurting your own chances of success, especially when it comes to finding and recruiting new talent, if you aren’t accommodating a recruiting search that goes beyond your local zip codes.
Why It’s Important
If you’re having difficulty hiring a candidate, a relocation program may not be a magic bullet. What it can do, though, is open more doors, and even help convince a recruit to accept a job offer. For some industries, there can be a need for highly specialized skillsets. While businesses in a single field tend to congregate in hub cities, that’s not always the case.
This is even more of a struggle for nascent businesses who don’t yet have the profile to automatically attract the interest of hot talent.
A relocation program allows you to expand your search, so that you can find the right fit with the right skills for your company. Not only will you be able to draw from a larger, deeper talent pool, it will be easier to seal the deal with the recruit. Solid relocation assistance can be the only thing standing between a “yes” and a reluctant “no.”
New Kids on the Block
There is also a segment of employees who rely more on relocation assistance (and need more assistance in general): recent college grads. These are young adults entering the professional world for the first time. They’ve likely never executed something as complicated as a long-distance move, and due to their newness to the market (and student debt), they’ll likely struggle to find the means to finance the large endeavor.
Making it Work
Depending on your needs, it’s entirely possible for you to run a successful relocation program even if you’re strapped for time and money. Back to the golf analogy, if you’re not able or willing to play the full course, you can always just play nine holes. Analyze the common needs of transferees, and focus on a core benefits plan that covers those pain points.
Managing the policy and employee’s questions doesn’t have to be time consuming either. Relocation Management Software is substantially decreasing the time spent on repetitive manual tasks. Here, you can also pick what you want and need to focus on, for maximum value and benefit.