Need a Hand? Using strategic partners to assist with corporate relocation
There are a lot of questions to answer when it comes to corporate relocation. How much relocation assistance is provided? How are expenses being tracked? Is any assistance being provided to help the employee find home? Answering this list of questions generally creates even longer to-dos, all of which are important. Since failed assignments are costly – and often avoidable, assisting your employees during this time of transition helps improve their success.
This isn’t new information to HR managers. Most can rattle off all the necessary questions to consider and best practices to make sure an employee’s relocation is seamless and accommodating. The challenge comes from lack of time. HR managers have broadly defined roles, and it’s not uncommon for relocation to be one of many tasks at hand.
Instead of providing only the absolute necessary relocation tasks, consider using strategic partners to supplement additional relocation services your employees need.
Some areas to consider:
- Expense management
- Destination services
- Moving and storage
- Intercultural training (for international moves)
Lump sums can be a good choice for a corporate relocation strategy, if it is managed correctly. Providing your employee with a list of trusted providers helps them manage the process more efficiently so they can prepare for the important phase, their new position with the company.
Like all HR managers, you want to provide your employees everything they need to be successful but struggle to find the time and resources to do so. Finding the right partners, who share the same level of care and attention that you do, can be a helpful and efficient way to assist your employees in times of transition.
What to look for in a Relocation Partner?
One of the most common needs companies have regarding their relocation program is simplicity. Not that they want a basic, no-frills relocation strategy – quite the contrary. But what they do want is something that seamlessly supports their broader hiring and retention goals, and more importantly, doesn’t create more work for them.
The problem is finding this simplicity isn’t always simple. Many HR departments have too few people to handle all the tasks for which they are responsible. It makes sense then that a company would partner with a relocation company to outsource many of their relocation needs. However, not all relocation partners are created equal, and if you don’t take the right elements into consideration during your decision-making process, you could be in for a whole other set of headaches.
Not to downplay the importance of assets and capabilities, but finding a partner with whom you can have a good relationship cannot be underestimated. Make sure when evaluating potential companies that they have a sense of the big picture regarding your organization, your corporate culture and your relocation needs. Between changing laws, the swiftness relocating employees need to report to their new job and a number of other factors, even with a defined policy, no two relocations are the same. Sometimes a move calls for an unexpected solution, and if your relocation partner is more focused on its capabilities than your needs, they likely will only accentuate your employee’s problem.
One of the biggest stressors for HR professionals when it comes to relocation is tracking all the information associated with it. Things like entitlements, spending, exceptions (and reporting it all) can take up a lot of time and create issues when there isn’t consistency among everything. The right relocation partner not only can manage these areas, but also analyze it all to identify recommendations for your relocation policy. When this is done well, it can make your company more appealing for new hires and less stressful for transferees.
Without fail, virtually every survey of HR professionals cites compliance as one of the most pressing relocation issues. What expenses are taxable versus non-taxable, are there any new immigration laws that might cause issue with a relocation? These are common issues that demand a lot of time on the part of HR professionals. Depending on how far-reaching your relocation plans are, finding time to monitor all of these issues is impractical – if not outright impossible. The right relocation partner will have a team regularly tracking compliance topics and making the right recommendations for your company.
Getting relocation “right” is incredibly important. It ultimately helps your employees get off to a good start, which has plenty of long-term benefits when it comes to retention. Whether you’re looking to partner with a relocation provider for the first time or re-evaluate your existing one, taking these qualities into consideration will go a long way in making sure your efforts go smoothly.
Do you still have questions about your relocation process? Contact us today for more information!