Amidst tougher competition for the best and brightest employees, 60 percent of companies say that relocation policy benefits are critical to recruiting talent. This was one of the key findings of Weichert Workforce Mobility’s ninth annual survey to identify the top relocation challenges and trends and offer best practice recommendations.
Amidst tougher competition for the best and brightest employees, 60 percent of companies say that relocation policy benefits are critical to recruiting talent. This was one of the key findings of Weichert Workforce Mobility’s ninth annual survey to identify the top relocation challenges and trends and offer best practice recommendations.
This year’s results are based on the input of approximately 170 corporate relocation managers in the US and Canada.
Reducing cost was the most commonly cited driver of the changes companies made to their relocation programs over the past year. In fact, “controlling relocation spend” was the number one reason cited for the wider adoption of flexible relocation programs, which include temporary, rotational and commuter assignments, lump sums and extended business travel. These programs not only offer less costly alternatives to “traditional” assignments, but also make relocation appealing to a wider range of employees and keep talent more readily deployable as new opportunities arise.
When it comes to workforce mobility, the mantra is, “be flexible, but be cost-conscious, too.” When managed right, flexible programs allow companies to be both.
Drawing on the results of this year’s survey and my own experience consulting with HR leaders, I offer the following additional strategies for optimizing workforce mobility:
Be sure to check out the infographic above for a look at our survey’s key findings. If you’d like a copy of the complete survey results, you can request a copy here.