Offering market-driven relocation packages to potential new hires and current employees is one of the best ways to attract and retain the best talent in your field. Cost-effective relocation packages show employees that you’re prepared to invest in their future and that your team cares about making their transition as smooth and comfortable as possible.
For organizations in all industries, effective and attractive relocation packages can also benefit the bottom line by helping employees feel comfortable and confident in their new locations – which, in turn, allows them to return to full productivity much sooner.
How can tiered packages help?
As beneficial as top relocation packages can be for general employee satisfaction and a company’s performance and earnings, HR professionals and managers are often overwhelmed by how many details and considerations are involved with creating and executing a great relocation program. A great way to eliminate some of these relocation program frustrations is to use tiered relocation packages.
Having a list of set relocation packages to choose from saves companies the time and effort of having to customize a new package for every employee who requires relocation. Your employees’ relocations can also be executed more quickly because they’ll no longer involve a lengthy period spent determining the total relocation budget and choosing the individual combination of services that is appropriate for each employee or potential hire.
Perhaps most importantly, having a tiered relocation package in place can give you a major competitive advantage for recruiting the best new employees, increasing productivity and bottom-line cost containment.