How to Convince Top Talent in Your Company to Relocate

As companies grow, they may expand to other cities or even to other countries. It’s natural to want to have some of your most talented employees grow with the company, but not everyone is interested in relocation. Knowing how to provide relocation assistance and make moving more attractive is key to retaining your top workers and convincing them to move with you.

Corporate relocation can be a tough sell, particularly if an employee is established and has a family. Sixty-three percent of companies say that employees turned down relocation assignments, according to Atlas Moving, even when the worker knew it might affect his or her opportunities to advance.

It’s also common for workers to feel a sense of regret after relocating, so managers need to be prepared to handle those situations when they arise. Working with a service that provides relocation assistance can help ease stress and worry for employees and their family members, and it can make the move go easier and appear more attractive.

Choosing Employees for Relocation

According to Mark Gerson of the international relocation firm Gerson Relocation, knowing which employees to target and knowing what to offer them can make a huge difference in how receptive they are to your proposal.

In a column for Talent Management & HR, Gerson explains that employees who are still relatively new in their careers or who are single and millennials are more likely to respond favorably to the opportunity to relocate. In fact, one study found that 92 percent of undergraduate students were eager to work abroad as part of their early career paths.

When prospective candidates know they will receive relocation assistance and get special perks, such as a company car, opportunities to work from home, gym memberships, or other enticements, it can improve the chance of getting a yes.

Investing in Employee Relocation

Although friends and family are a primary reason many workers hesitate to relocate, money plays a significant role as well. As an employer, investing in your employees can begin with either helping them with the cost of the move or reimbursing them completely, as many employees might not want to foot the bill for pulling up roots and moving. However, that’s just the tip of the iceberg; there are many other types of financial incentives you can offer employees to make the move attractive:

• Better pay. A significant increase in pay can go a long way toward lessening the downsides of relocation. You have to always be mindful of your company’s bottom line, but for the right employee, creating a generous financial package could be a worthy investment.
• Provide accommodations in the beginning. Moving is stressful and challenging, whether you’re moving across town or to another part of the world. It takes time to sell a current home or terminate a lease, and it also takes time to find the right place to live in a new location. Providing them with two or three months of accommodations, such as in a hotel or short-term rental, relieves some of the financial pressure and gives them time to look for new living arrangements.
• Cost of living adjustments. If your company’s new location is in a city that has a higher cost of living, then your employee’s paycheck won’t go as far. Offering a cost of living pay adjustment is another way to help keep them happy with the new arrangement.
• Provide furnishings. Rather than having employees move their belongings to another part of the country — or world — you could provide an incentive in the form of rental furniture. Setting them up with free home furnishings for a year gives them a comfortable home environment while they adjust to their new work environment.

When it comes to keeping your employees satisfied with some of these home-focused initiatives, CORT Furniture Rental can provide furniture packages to make sure your top talent will enjoy their new setting.