A single all-encompassing corporate relocation program may be the simplest to administer. However, a one-size-fits-all package may be doing your company more harm than good. Your relocation policy or policies should be designed to meet your corporate strategic objectives. Target your corporate relocation policies to meet these objectives and consider the following to be “standard” components:
Primary Goals of a Corporate Relocation Policy
- Assemble the most talented staff possible
- Make the best hires to help your company perform well
- Transfer the right people to the right locations at the right time
- Overcome employee or family resistance to relocation
- Control and manage costs of your relocation program
- Offer a relocation package equal to or superior to your competition's program to attract talented staff
Your company and its relocation policy should target these goals, at a minimum. You may have additional objectives that you can add to this brief list.
Problems with a One-Size-Fits-All Relocation Policy
Ask yourself some revealing questions before you go "on the record" with your preference for a single corporate relocation program that applies to all new hires and current employees , regardless of their needs or position on the organization chart.
- Are all your employees at the same responsibility level in your company?
- Are all new hires slotted for identical levels in the organization chart?
- Are all new hires and current employees single? Married? Married with children? Homeowners? Renters?
- Is your single relocation package equal to or better than the programs offered by your competition seeking to hire or retain the same talented employees?
If you answered "yes" to all of these questions a single relocation program may suffice. However, in most cases, a company hires and transfers people with different needs, responsibility levels, and concerns.
Solutions to the One-Size-Fits-All Problem
While making constant exceptions to your policy for each transferee could become unwieldy from an administrative or cost perspective, having a more comprehensive program that provides different benefits for different employees may be more efficient. Consider the following proven suggestions to meet your recruiting and employee retention objectives:
- Use a proven, successful relocation firm to relieve the administrative burden from overworked HR staff who currently manage relocation related tasks
- Create a tiered relocation program, specifying benefits for employees and new hires that fall into different categories of responsibility levels.
- Create some relocation policy flexibility within those tiers to address the specific needs of employees
Each employee has a different personality, background, personal goals and a varied home or family environment. While it's impossible to tailor every benefit to each individual employee, creating a relocation policy with tiers and some flexibility to address specific employee needs is usually attractive to transferees. Setting reasonable parameters for this flexibility helps control costs and creates less stress for your staff and transferees.