CapRelo Blog

Build a Competitive Advantage with Tiered Relocation Packages

Posted by Amy Mergler on Fri, Oct 07, 2016

competitive-advantage.jpgOffering 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.

Learn more about tired relocation packages in our free article.

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. 

Save Time & Money Using Tiered Relocation Packages

Topics: relocation packages, Tiered relocation packages, attracting new hires

Nine Tips for Recruiting for the Healthcare Industry

Posted by Jim Retzer on Tue, Jun 23, 2015

medical-doctor-1.jpgAccording to the Bureau of Labor Statistics, healthcare is the fastest growing industry in the U.S. With an annual growth rate of 2.6 percent, the sector is expected to add five million jobs between 2012 and 2022.

Thanks to the consistent demand for talent in both public and private healthcare organizations, healthcare professionals are in a good position in the labor market. They don’t have to stay in jobs that don’t offer them everything they want in terms of compensation, work environment and career advancement. In fact, according to Glassdoor, three in five healthcare workers intended to look for a new position in 2014.

Learn about increasing employee retention in read our free article.

Clearly, for healthcare organizations that want to remain competitive, it’s crucial to have a good recruitment strategy that enables them to attract qualified, experienced and engaged talent. What follows are 9 tips for recruiting for the healthcare industry:

  1. Work with educational institutions. This allows you to establish a steady pipeline of competent talent. Offer opportunities for healthcare students to learn about your organization, for example by means of training or mentoring programs.
  2. Use online job sites. The majority of healthcare workers find their positions through online job sites. Aggregator job sites such as Monster.com are especially useful, since they have a high number of job seekers.
  3. Include "passive" candidates. Top talent is often employed and not in the market for a new job… until the right one comes along. Use resources such as LinkedIn to approach highly skilled passive candidates who might be open to a new opportunity.
  4. Use your talent community to your advantage. Get to know community members. Then when a job opens up, you’ll already have a shortlist of possible candidates who are acquainted with your organization.
  5. Employ social media. Use Facebook, Twitter and LinkedIn to your advantage by asking followers to repost your job openings.
  6. Highlight your employer brand. According to HealthcareSource Blog, 60 percent of workers cite an organization’s reputation of being a great employer as the single most important attribute when considering a new position. You can strengthen your employer brand by engaging current and former employees as company advocates on social media, in publications and in your talent community.
  7. Emphasize the company culture. One of the most important aspects of a successful hire is that the candidate is a good fit for the company culture. That’s why he or she has to have a clear picture of what it’s like to work for your organization, what its values are and what types of personalities do well in the company.
  8. Recruit for retention. To avoid costly turnover, look for candidates who are a good fit for the company and the position, who know they can advance within the organization and who are engaged with the organization’s objectives. Transparency and engagement contribute significantly to long-term retention.
  9. Provide competitive relocation packages. Especially for top-level talent in critical roles such as physicians, surgeons and high-level administrative staff, it’s essential to provide competitive relocation assistance. A global relocation managment company, like CapRelo, can coordinate every aspect of an employee’s move, reducing his or her stress surrounding the relocation. And this in turn assists in moving an employee back to productivity.

Keep the tips above in mind when recruiting healthcare talent so you can establish a strong workforce of qualified and engaged professionals.

Download our Free White Paper: Ways to Increase Employee Engagement

Topics: attracting new hires, health care industry

How to Attract Competitive Talent in the Technology Industry

Posted by Jim Retzer on Tue, Jun 16, 2015

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The shortage of talent in the tech industry is the topic of many articles and debates. According to Laurianne McLaughlin in her article titled “The IT Talent Shortage Debate,” a survey by InformationWeek showed that 73 percent of companies with fewer than 1,000 employees and 88 percent of organizations with more than 1,000 employees agreed there’s a talent crunch.

That’s why in recent years, governments around the globe have started investing more in stimuli for STEM education. But even with more graduates set to enter the tech industry, employers are still in fierce competition for the best candidates.

Learn more about increasing employee engagement in our free article.

What High Tech Talent Wants

The Kelly Services report “What Talent Wants – High Tech” provides some important insights into worker preferences in the high tech field. Here are some key findings:

  • Tech talents want clear career paths with their employers. By clarifying up front what tools and opportunities the company provides to support career advancement, an employer can make a position more attractive from the first moment of engagement with the candidate.
  • Professional development is important. Tech talent value training so much that many pay for it out of pocket. However, those who have the opportunity to discuss career development with their employers and make use of available resources—including, as John Hagel writing for Deloitte University Press points out, training opportunities and stretch assignments—are more satisfied than workers in other industries. Clearly, offering career development opportunities contributes significantly to attracting talent.
  • Tech talent values a cutting-edge work environment. Not surprisingly, tech talents want exposure to the latest and most revolutionary technology in the workplace. Employers who can offer this are in high demand.
  • A flexible and collaborative work environment is preferable. More than half of all tech talent value flexible work arrangements with opportunities for flex work and telecommuting. In addition, 62 percent want a highly collaborative workplace in which they have the opportunity to work with knowledgeable colleagues.
  • Tech talent wants competitive compensation. Salary, benefits and other remuneration are of the utmost importance to 86 percent of tech workers. Though the tech industry typically provides relatively high salaries, some companies are offering extremely high compensation in an attempt to retain top talent for longer. Daniel Terdiman describes in his CNET article “Silicon Valley talent wars: Engineers, come get your $250K salary” how Weeby.co decided to offer unusually high salaries and equity to top talent to prevent them from leaving for larger, more established competitors. And as a part of compensation, employers are advised to consider competitive and comprehensive relocation assistance that supports top tech talent when they need to move for their jobs. This shows talent that they’re valued and as a result promotes engagement and retention… plus, a successful move can greatly enhance employee satisfaction and productivity.

In addition to these points, tech talents expect perks. As Laura Lorek points out in her SiliconHills article “Perks Help to Attract and Retain High Tech Talent,” whether it’s catered lunches, a relaxation room, extensive benefits packages, gym memberships or pet-friendly workplaces, tech talent are attracted to employers that offer more than a conventional workplace.

The tech industry will be competing for top talent for the foreseeable future. But with recruitment and retention strategies that are geared to what tech talent wants, employers can greatly enhance their chances of attracting and retaining high quality tech workers.

 

Talent Management: Engagement Article

 

Topics: attracting new hires, talent management, tech industry

How to Attract and Retain Female Executives In the High Tech Industry

Posted by Shirien Elamawy on Tue, Jun 09, 2015

leader-resized-600.jpgAround the globe, employers are becoming aware that the low participation rate of women in the high tech industry has a negative impact on business. According to Sharon Florentine in her CIO article, “6 Ways to Attract and Retain Female IT Talent,” research shows that actively recruiting, retaining and advancing more women is good for a company’s bottom line. And when women are in leadership positions, turnover is reduced, the overall performance of the organization is enhanced and a strong leadership pipeline is established.

Learn key ways to increase employee retention in our free article.

Also, since the high tech industry is overwhelmingly male-dominated, companies are missing out on a significant pool of quality talent. Especially in a labor market where employers are concerned about a talent gap in professions such as engineering, companies can’t realistically afford to not foster female talent. However, statistics indicate a lack of success when it comes to retaining women: a Harvard Business Review report led by Sylvia Ann Hewlett shows that 41 percent of highly qualified STEM workers are female, yet more than 50 percent of them leave the field in their mid to late thirties.

What Employers Can Do

According to the Kelly Services article, “Attracting and Retaining Women in the High Tech Industry,” some of the reasons women leave the IT industry include a lack of female colleagues and role models, as well as distinctly inferior treatment such as lower salaries and fewer advancement opportunities when compared to their male peers. It’s only logical, therefore, that addressing these issues would make for more attractive work environments for women. Employers should consider taking the following measures:

  • Diversity training aimed at promoting understanding, tolerance and equal treatment between male and female workers. This training should include both management and employees and be geared to eliminating gender bias.

  • Offering equal salaries. According to David Louie in the ABC7News article, “Silicon Valley Job Growth Exposes Increasing Gender Gap,” men in tech earn up to 61 percent more than their female counterparts. Obviously, offering women equal remuneration will form an important incentive.

  • Offering clear career paths for women. Employers should clarify how women can advance within the company from the start of the recruitment process.

  • Providing paid maternity leave, as well as flexible work arrangements. Many women leave the high tech industry due to a lack of support for motherhood. Creating work environments where they can fulfill both their roles as mothers and as professionals will likely help retain them beyond their mid to late thirties.

  • Actively encourage female role models. Inviting senior female employees to speak to and mentor younger ones provides clear role models who prove women can succeed in the high tech field. At the same time, recruiting female students in the same manner can encourage more women to study STEM subjects and enter the field of high tech.

  • Provide relocation support geared specifically toward women. Women who need to relocate for their jobs may require tailored support to help them and their families acclimate to the new environment. From cultural training for a female employee relocating to a more traditional society to support in locating schools and childcare, relocation companies can provide superior relocation experiences that help employers retain their top female talent.

Attracting and retaining women in the high tech industry is an ongoing endeavor. But by understanding what women want and where companies fall short, employers can effectively adapt their talent management strategies to foster and support top female talent.

 Talent Management: Engagement Article

 

Topics: talent retention, attracting new hires, talent management

Dissecting the Features of an Attractive Relocation Package

Posted by Jim Retzer on Tue, Oct 07, 2014

Creating a strong relocation package for your employees is key to attracting and retaining top talent. So how do you determine if your company's relocation policies are up to par? Consider the following five features that distinguish the most attractive relocation packages from the weakest.

Learn more about developing relocation policies with our free guide. 

1. Comprehensive, Not Complex

The goal of a quality relocation package is to offer a range of comprehensive solutions that eliminate stress for the employee and ensure seamless productivity for your company. Hiring a moving company may seem like enough, but you should work to ensure that employees don't feel shouldered with the burden of planning and executing their move. Offer comprehensive, wraparound relocation support, and your employee will feel secure, stress-free and confident about their new role in the company.

2. Anticipates Problems

Sure, it's important to be responsive to bumps in the road during the relocation process, but the best relocation packages anticipate problems before they even arise. Consider the following factors that frequently cause difficulty for employees, and be sure to have a thorough, thoughtful plan at the ready:

  • Local schools. Finding a satisfactory school for your employee's children can take a major burden off their plate.
  • Spouse Support. Offering networking assistance to your employee's spouse can make or break the decision to relocate. Research leads and connections in the local job market, and help ease the transition for a working spouse.
  • Create Connections. Research professional and/or leisure organizations that might interest your employee. Offering connections can make for a much smoother transition, especially for employees who are reluctant to leave their established social and professional life behind.
  • Places of Worship. Consider the importance of spiritual life to your relocating employee, and be prepared to offer a list of appropriate churches, temples or mosques.
  • Moving Precious Cargo. Go above and beyond to ensure that a plan is in place for moving pets, plants or other belongings that go outside the purview of a traditional moving company.

3. Real Estate Solutions

According to a recent WERC U.S. Transfer Volume & Cost Survey, the issue of real estate is one of the chief reasons why executives turn down relocations. Develop and maintain connections to real estate professionals in order to offer your employee fast, professional service to sell their old home and purchase a new home with little hassle.

4. High-Quality Handling of Household Goods (HHG)

As the late, great George Carlin put it, "the whole meaning of life is trying to find a place for your stuff!" Dealing with "stuff" can be stressful, which is why offering a comprehensive package that includes packing and handling household goods is worth the additional cost over a self-service move.

5. Built-In Bonus Incentives

Finally, consider adding a final layer of "icing on the cake" for executives who may be on the fence. Cost of living salary adjustments, monetary bonuses and protections from losses on the sale of a home can all give your employee the peace of mind they need to take the relocation plunge.

Attracting and retaining ambitious, productive employees means taking extra care to make their relocation smooth and worry-free. If you find your relocation package is missing any of these five features, you may find yourself missing your top executive pick at your next meeting. Spending the extra time and resources to support a new or long-time employee through a major life change can pay off in sustained productivity and increased loyalty to your company for years to come.

Download 

Topics: relocation packages, updating policy, attracting new hires

How To Determine Fair, Tiered Relocation Packages

Posted by CapRelo on Wed, Apr 30, 2014

tiers-resized-600

Many companies offer relocation packages to their employees in tiers in an effort to control relocation costs. Tiered relocation packages are frequently established to address a variety of complex issues, and essentially mean that what’s offered to one employee may not be offered to another. They are useful in a company’s ability to offer more attractive packages when trying to retain existing employees or attract prospective talent. Determining a fair, tiered relocation policy is often merely a matter of weighing certain criteria against its value for the company.

Find out how you can save time and money using tiered relocation packages in our free guide.

Assign by Position and Experience

An employee who performs high level services for a company is usually considered much more valuable than someone who occupies a far lower position with few responsibilities and little need for certain skill sets. For this reason, employees who have reached certain levels within the company (i.e. professional, manager, executive) and who are seen as more “valuable” in the grand scheme of things may be offered more robust relocation packages than others.

Examine Existing Living Status

Sometimes, an employee’s homeowner status could be one of the key factors that plays into whether they’re offered a higher or lower tier of relocation package. Employees who own their own homes may need to be offered additional benefits, especially when considering the complexities inherent in having to sell or rent their homes to relocate. Likewise, a company may determine that an employee who rents his or her residence will need less assistance and will have fewer difficulties moving. An employee’s familial status is another factor that may be taken into consideration, in particular those with young children who might be more resistant to relocation than single employees. Offering employees with families a more attractive relocation package can help them overcome both practical and psychological barriers to moving. 

Corporate policy and culture should always factor heavily into decisions that determine the features offered in tiered relocation packages. For some companies, financial factors may be the bottom line. Other companies may place higher value in employee morale, or in their public perception as an “employee corporation.” Senior management and Human Resources should therefore work hand in hand with the finance department to establish specific criteria when determining the features offer in tiered relocation packages.

Save Time & Money Using Tiered Relocation Packages

 

Topics: Tiered relocation packages, attracting new hires

[Video] A Cheat Sheet for HR Managers: 7 Keys to Employee Relocation

Posted by Brian D'Orazio on Tue, Jan 21, 2014

Please enjoy our video, "7 Keys to Employee Relocation: A Cheat Sheet for HR Managers."

Topics: Corporate Relocation Costs, attracting new hires, loss-on-sale relocation policy, House Hunting Trips

Seven Tips for Transferring During the Holidays

Posted by Brian D'Orazio on Fri, Dec 13, 2013

holiday ornaments

If your transferees are moving during the upcoming holiday season, here are seven tips and suggestions you can share with them to make their move and holiday season more joyful.

When sending out your holiday cards make it a “two-fer” and let everyone know of your upcoming move as well.

Make sure to use your new address as the return address. This is an easy way to make sure everyone knows that you’re moving and where they can find you. Send the cards right away too, so you can receive your own as well.

Have each member of the family create their own special holiday mix CD.

Take turns listening to each family member’s mix while you drive and carol your way to your new home.

Keep the traditions alive as best you can.

Talk with your family and find out what matters most to them with holiday traditions. As you make the list, decide which traditions are possible and then do everything in your power to make sure they happen.

Start new traditions.

Traditions have to start somewhere, right? During the move, look for fun places you can stop by and visit. It might not be the holiday celebration that your family is used to, but it doesn’t have to be a “lost” holiday.

Separate the items you need for the holidays.

Make sure you know where the wrapping paper, ornaments, lights, and gifts are as you travel. You do not want a necessary component to the holiday celebration in a moving truck when you need them the most.

Talk with your coordinator about the holiday schedule for your new community.

The tree lighting, or community holiday play are all great ways to meet new people in the area and get out of the house for a few hours.

And finally, plan as best you can.

Make a list, check it twice and do your best to keep everything under control. Plan ahead and you shouldn’t run into any major issues.

Topics: attracting new hires

Relocation Policy Best Practices

Posted by George Herriage on Tue, Oct 29, 2013

Best_Practices.jpgBest practices have become a 21st century buzzword as an anthem for all areas of business, from HR to investment policies. Unfortunately, its common use has created numerous misunderstandings, if not outright phrase abuse.

Relocation best practices are a graphic example of its misuse. Traditional definitions of best practices are suffering the fate of the dinosaurs with relocation policies in effect during and after the recession.

Some employers, emphasizing cost reduction over competitive features in relocation packages, seemingly substitute “cheaper” for “best.” For example, according to Worldwide ERC, surveys show that in 1988 around 90 percent of employers included temporary living assistance in relocation programs. That percentage dropped to 54 percent by 2008. Would you then assume that eliminating temporary living assistance benefits from your policy is a best practice?

Learn more about developing relocation policies in our free guide.

Evaluate Your Package Features

If some of your relocation package features suffered the cost-cutting mania of the recession, evaluate your entire program with fresh eyes.  This action is necessary for at least two reasons.

  1. Post-recession recovery necessitates re-attracting talent downsized during the recession.
  2. Your competition may have already restored removed features, placing your company in an inferior position to attract high performers.

An honest evaluation of your relocation package, in light of your company’s hiring needs, expansion plans and competitive issues, helps determine if it’s supporting your strategic objectives. If your goal is implementing best practices methodology, this analysis is a must.

Even if you’re under strict orders to control spending, restoring or adding features to your relocation policy can include reasonable spending caps to recapture the competitiveness of your program, without generating runaway costs.

Best Practices

To paraphrase, best practices are those methods, techniques or actions that have proven to be superior to alternative options. Unfortunately, in the relocation policy area—and many other vital business areas—best practice often evolved to mean “common” practice. As in the previous example, eliminating temporary housing benefits for transferees was a growing trend, not necessarily a best practice.

Best practices for relocation programs should provide two benefits, at a minimum.

  1. Features that transferees want.
  2. Competitive features the company needs to attract or retain key employees, while offering cost-certain or cost-control ability.

If this initially appears to be an over-simplification of relocation best practices, think about it for a minute. Are there really any more vital factors?

Best practices are not just a buzzword. It’s an attitude, philosophy or state-of-mind. Employers must realize that the emotional component of relocation is just as important as the financial component, at least for the transferee, who typically faces both challenges.

Few relocation best practices put inordinate weight on cost-cutting at the expense of attracting, retaining or ensuring productivity of transferees. It makes little sense to risk not having the right person in the right job at the right location to save a few dollars.

Since there is seldom a perfect solution to problems, HR should keep their eyes on the prize. Installing best practices is never a mistake. Including features that your transferees want at a cost your company can control is an essential combination if you want to employ the most talented people you can afford.

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Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Topics: Corporate Relocation Costs, attracting new hires

Will You Leave Employees Behind During Corporate Relocation?

Posted by Barbara Miller on Mon, Nov 08, 2010

Are you moving your offices or setting up a second branch in another state -- or internationally? National or international relocation services like Capital Relocation Services can help -- and not just in the ways you might imagine.

When you move your corporate offices, you'll have a lot of tough decisions to make in regard to your workforce, salaries, retaining employees and recruiting new hires.

Here are just a few questions you should ask; your corporate relocation company can work with your senior staff to help you determine the best answers.

Personnel questions fall into several categories:

  • Retaining top talent
  • Employees who stay behind
  • New hires

A corporate relocation company helps you retain your top talent by tracking the answers to these questions:

  • Which employees will make the move?
  • Will you offer retention bonuses or relocation incentives for reticent employees?
  • What other measures will you put in place to retain your top talent?
  • What's the cost of new hires v. retaining current talent?
  • How much should top talent be paid, considering market salaries and cost-of-living in the new location?

A corporate relocation company will help you keep costs under control by helping you determine the answers to these questions about employees who stay behind

  • Will jobs with your company be available for them in the existing location?
  • Will you offer severance packages?
  • How much notice will you give?

A corporate relocation company can help you stay within budget when it comes to new hires, too.

  • How much will you pay new hires compared to existing employees?
  • What's the cost of training new hires and integrating them into corporate culture?
  • By what means will you find new hires?

 

Free eBook:  A Guide to Developing  Relocation Policies

 

With the right planning, your new offices might become the perfect blend of old and new, where existing talent helps new hires assimilate the corporate culture and new hires show your old hands around town -- and you'll start to see increased productivity from everyone.

Topics: relocation benefits, corporate relocation company, attracting new hires

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