Over the past few years, more and more companies have been embracing the idea of corporate relocation. According to data from the 48th Annual Atlas Corporate Relocation Survey, more than half of mid-size and large companies saw gains in employee relocation volumes in 2014, and many anticipated even more growth in 2015. These increases beg the question: How exactly can employee relocation positively influence a company or an employee? Here are three possible benefits of relocating workers:
1. Allows you to place employees where they will be most productive
Companies relocate employees for a variety of reasons, but one of the most common is that they have a shortage of skilled workers in a particular location. Why, then, don't they simply hire new employees? Relocating current employees to address these shortages is often less expensive and more efficient for the company in the long term. Moving a worker who already has the skills and experience necessary to jump right in limits the time and money spent training new people. In this way, companies can promote from within, while ensuring each location has the necessary skills and workers it needs.
2. Fosters an environment of upward mobility
Companies that are known to relocate employees when necessary can offer an advantage to new and future workers: more options for career development. In other words, employees who know relocation is an option may feel they have more opportunities to be promoted within the company, especially if they are willing to move to a different state or even country. This cultivates an environment where employees seek promotions, making them motivated to work hard and go above and beyond.
3. Provides employee with renewed energy and excitement
Relocation is not just beneficial for the company as a whole; it can positively affect the specific employee being transferred, as well. Many people are excited by the prospect of moving to a new city and working from a new office. In an age when millennials are flocking to large cities and looking for as many new experiences as possible, relocation, for a willing employee, can feel like a great way to explore new surroundings while retaining some level of stability.
Plan a successful relocation
Keep in mind, in order to see all of the benefits of corporate relocation, you must choose the right employee and offer a fair relocation benefits package. Relocation can be exciting for the entire company, but it is crucial to choose a person who is willing and happy to make the move and who will fit in well in his or her new position.
Furthermore, aim to offer relocation benefits that will make the move less stressful for the employee. Can you offer spouse employment assistance? Or perhaps you can organize the move and hire the right moving company for the job? Take steps to ensure the entire process is positive and well-planned. If you handle the relocation correctly, both your company and your employee will see the benefits.