CapRelo Blog

Do You Have a Competitive Relocation Policy?

Posted by Amy Mergler on Thu, Jan 14, 2016

Competitive_Businessman.jpg

Are you finding it difficult to recruit top talent in your industry? Do you feel like you are reinventing the wheel each time you enter negotiations with a potential employee? Is there a thin talent pool in your region? Are there too many competitors vying for the best employees?

These are just a few challenges that rapid-growth industries like healthcare, biotechnology and alternative energies face. And every business owner knows that the right people in your company provide the greatest opportunities for success.

You can find more examples on how to develop relocation policies in our free guide.

Evaluate Your Relocation Policy

Your relocation policy may be partially to blame if you’re having trouble recruiting top talent. It may be possible that your competitors offer better relocation packages, but you don’t know how to address the issue. You may just want to see how your policy stacks up against your competitors.

A relocation policy should help your company recruit and retain top talent in your field, make the move as low-stress as possible and get new talent back to work and productive as quickly as possible. It should also be fluid – changing with the economy, real estate market, new business challenges and employee needs.

You can evaluate your policy and look at areas of your current relocation process that work, and areas that don’t, either because they cause too much stress for transferees or staff, or because they are expensive.

During the evaluation, you should consider the following:

  • What are your organization’s current business strategies and goals?
  • Are your relocation benefits competitive? Have you benchmarked them lately?
  • How many policy exceptions are being requested each year?
  • What is your relocation program’s ROI?
  • Are you meeting both recruitment and retention goals?
  • What is your rate of assignment acceptance? Are employees turning down relocations because of a specific benefit, such as home purchase?

Based on your findings, you can determine which policies and practices to incorporate into a competitive relocation package designed to attract and retain valuable employees.

Save Time & Money Using Tiered Relocation Packages

 

Image courtesy of Sira Anamwong at FreeDigitalPhotos.net

Topics: relocation packages, updating policy, relocation benchmarking

You Have a Choice in Relocation Management Services

Posted by Mickey Williams on Wed, Jan 26, 2011

Want to hire a business relocation service, but are afraid of the costs? You can get tailor-made relocation management services with as little (or as much) outside involvement as you'd like.

Maybe your HR staff is adept at providing relocation management services to your employees, negotiating packages and helping transferees integrate with the new environment. Maybe you've lined up service providers and fostered relationships over the years. That's okay.

A business relocation service can work with you in one of several ways:

  • To refine your existing relocation management services with benchmarking and best practices
  • To look at specific aspects of your relocation management services and improve processes where necessary
  • To provide turnkey relocation management services from start to finish, with a single point-of-contact to simplify customer service and more. You may still maintain many of your sub-contract suppliers.

Because every company has unique needs, CapRelo also provides a customized pricing plan for our relocation management services.

Traditional Pricing – Direct costs plus a blend of contract fees and referral fee off-sets or revenue sharing

Solutions Pricing – CapRelo will help you develop a turnkey relocation process, changing sub-contract suppliers only when necessary and billing accordingly

Guaranteed Pricing - If you're concerned about quantifying costs, this is the way to go. With this plan, CapRelo charges a single fee per move.

The Low-Stress  Relocation Guide

Relocation management services aren't one-size-fits-all; customized pricing and service should be a standard part of the business relocation service you hire.

 

Topics: relocation management services, relocation benchmarking, Buyer Value Option

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