The world of work is becoming more competitive as companies compete to attract and retain the best talent. Beyond the standard perks offered to employees, companies must think more creatively about how to attract and keep the best candidates. For companies operating on an international basis, relocation packages can be a viable perk, with many employees keen to develop their experience globally.
How does relocation help a company?
Although the relocation of employees is admittedly costly for companies – not to mention time consuming and putting extra pressure on the already-busy workload of HR departments – it must be argued that it is necessary to encourage the flow of talented employees.
More employees are seeking the opportunity for international assignments and see this as a valuable way of developing and growing in their careers; therefore, having an employee relocation programme in place can help to retain talent and could also address problems such as high turnover in some parts of a company.
Findings by XpertHR reveal that millennials in particular (71 per cent) want overseas assignments included in their career plans; in addition, the findings recommend that increasing short-term and project-based assignments could enhance an organisation’s competitive edge.
Relocation programmes therefore allow employees the opportunity to move and fill posts that may otherwise be difficult to fill. In this way, they gain valuable experience whilst sharing their own knowledge and experience with colleagues in other countries.
What is involved?
Employee relocations vary in size, from the relocation of just one or two employees to the relocation of whole teams or even departments. To successfully manage the process, many factors must be considered, not least compliance and other risk factors. HR departments must ensure they have in place clear policies and procedures for the process to address concerns such as how an employee’s relocation costs, travel expenses and so forth will be paid.
More practical factors can include finding accommodation or schooling for the families of employees who are moving. Increasingly, an employee relocation company such http://www.dtmoving.com/relocation-services is used to provide specialist help.
Relocation for specific overseas projects can be offered as a genuine incentive to draw in and keep the best candidates, contributing to career growth and organisation-wide staff development via the skills sharing this movement of employees provides.