3 Essential Items To Include In Your Corporate Relocation Policy

Posted by on Jul 3 | 2017

Corporate Relocation Policy Essentials

Having great corporate relocation services in place ensures a smooth transition for both the employee and the company. But a good policy is also much more than that. It’s necessary to your business growth overall. As such, it is important for companies to invest time in deciding whether their current offerings are serving their business goals.

While corporate relocation policies can look different for every company, depending on available resources, every corporate relocation policy should aim to prioritize the following three things in order to have the most successful policy in place and therefore the best possible results for your business.

  1. Market Competitive Corporate Relocation Services
    Above all, your corporate relocation policy should be market competitive. If you’re unsure of where your policy stands in comparison to others in your industry, there are many organizations that can help you to appraise your offerings. While it may require offering more than your company current provides, a competitive relocation policy is going to allow you to secure top talent. Considering that employees are the backbone of any business, an investment in a competitive corporate relocation policy is really just an investment in the future of your business.

  2. Mileage Flexibility
    Although you may be tempted to offer a flat amount of money to every employee, most candidates are going to be greatly unsatisfied if they have to spend a significant amount of their own money. You may risk losing out on securing great talent for your company if your policy is based on flat rates. In short, the ideal corporate policy is one that provides funds based on mileage as opposed to a flat rate.

  3. Spousal Job Finding Assistance
    A common reason why relocations fall through is due to spousal unhappiness over the relocation. For a variety of reasons, many spouses are unwilling to leave their home and their job behind. Therefore, including spousal job assistance into your policy is a very smart addition in order to mitigate spousal reluctance and concerns about the relocation. In short, companies should always think about the key players involved in a relocation; more often than not the candidate likely has a partner and possibly even a family to think about. These key players affect your company much more than you likely think.

One way to mitigate these concerns, of course, is by offering assistance with finding a job. This not only makes the relocation more attractive to the candidate’s partner, but it also means that you are eliminating or reducing all of the potential obstacles that could arise when a spousal relocation falls through. That’s a loss for your company. Being proactive in your corporate relocation policy is ultimately an investment in the future of your business.

Consider, too, that in many corporate relocation policies, spousal assistance is just a perk. By including this in your policy, you set yourself apart from your competitors and gain an edge to secure great talent. Even more, potential candidates will feel valued. In short, it’s a win-win for everyone involved

As an aside, companies should also have meetings with both the candidate and his or her spouse as part of their corporate relocation services in order to address any potential concerns or questions and provide effective solutions. It also gives you the ability to finalize whether or not the relocation is a good fit.

The Bottom Line

Businesses must invest time in their corporate relocation policy in order for it to be as successful as possible. The key to crafting a successful policy is multifaceted. First, your policy must be competitive if you want to secure the best possible candidate.

The second key is to ensure that you craft your policy in a way that allows you to mitigate all potential risks involved in a relocation. Take a look at the reasons why previous relocations didn’t go as planned. Then, use your policy to prevent similar events in the future. Similarly, if something is working, stick with it. At the end of the day, your policy should be strategic, designed to power business growth. Ask yourself, “Will this serve the business in a positive way?” If the answer is yes, you are off to a good start.

Armstrong is a premier, professional moving company that specializes in high-profile, corporate moves. We will take care of all aspects of your move with flawless execution. Contact us today for more information.

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