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How to Build a Stand-out Relocation Program Cost-Effectively
The best healthcare acquisition strategy for organizations is to augment the average $10,000 relocation benefit, typically provided as a reimbursement allowance or cash, by providing related services that shift the legwork away from physicians themselves, while allowing them to put their funds to best use.
While relocation services are standard offerings in the corporate world, they’re lacking in healthcare—despite the fact that physicians often work extended hours and are swimming in debt. Therefore, they don’t have much time to coordinate a move or in some cases, the ability to front the costs.
However, when organizations attempt to provide such services in-house, it puts even more stress on an already-lean talent acquisition team. Most simply don’t have the bandwidth or expertise to make moving arrangements, vet suppliers, handle reimbursements and address compliance and tax issues, etc.
Therefore, the best option is to contract with an outside relocation management company, or RMC. While this used to be very costly, thanks to recent changes in the relocation industry, it is now possible to do so without taking on a huge additional expense and in some cases, is cost neutral.
It’s no question, as the healthcare industry expands and changes, talent acquisition teams will need to look at relocation as a key recruiting strategy.