Domestic relocation has fundamentally changed since the pandemic. People’s lack of willingness to relocate, the desire to work remotely, and the high cost of housing have forced companies to reevaluate if policies are fit for purpose.
Our latest download explores five ways to optimize your Domestic Relocation Program. Explore each approach further in our blog series.
1. Consider the Why
Understanding the underlying motivations and goals behind talent relocations is crucial for organizations to deploy effective programs and policies that meet the needs of individuals and align with strategic objectives. By investing time in understanding the “why,” companies can tailor their relocation programs to attract and retain the right talent in the desired locations.
Conducting surveys, interviews, or assessments allows organizations to gather valuable insights and identify the key drivers behind talent relocations. For instance, if the primary driver is talent development, organizations can design specific programs such as rotational opportunities targeting new graduates. These programs provide a structured pathway for talent to gain diverse experiences and skills while fulfilling organizational needs.
When facing critical skills needs, companies must develop comprehensive benefits packages that incentivize talent to make the move, especially when operating in higher-cost locations. Such packages may include relocation allowances, housing assistance, and financial incentives to ensure the transition is financially feasible and attractive for the talent being relocated.
Additionally, considering the willingness of talent to relocate is essential in determining the appropriate benefits and policies to incentivize the move. Some individuals may be more open to relocation due to personal circumstances or career aspirations, while others may require stronger incentives. By understanding the preferences and needs of talent, organizations can design benefits packages and policies that effectively encourage talent to embrace relocation opportunities
By downloading our white paper, you can explore all five core innovations in domestic relocation strategy in greater detail. Discover how companies have successfully adapted to the changing landscape, embraced new approaches, and achieved their strategic objectives. Stay ahead of the curve by implementing these innovative strategies and ensuring a seamless relocation experience for your employees.