There are a few reasons why people choose to move: a higher-paying job or career advancement, to be closer to family, or to transfer within a company. Whatever the reason, they’ll need help, and you might be thinking, then what’s in it for us?
Many employers believe that the cost of relocation support for their international talent offsets the monetary value the employee generates for the company. But this could not be further from the truth! Here’s why employee mobility is great for your business.
You get access to a wider pool of talent
It costs hundreds of euros per day to keep a position open – and over a month to fill that position. And if you’re in a high-demand industry, then those numbers only increase. By the time you’ve finally hired someone locally, you’ve spent half an annual salary in hiring costs and you’re sat wondering about how to widen your talent pool!
The answer is simple: look beyond your border. If you commit to relocating employees from wherever they are in the world, you’ve automatically increased your likelihood of hiring top talent. Instead of pouring that money down a drain, you’ve invested directly into the future of your company.
You increase employee happiness – and your bottom line
By going above and beyond to relocate your new employee, you’ve created an outstanding candidate experience! In return for your investment in their relocation, you get a loyal and satisfied employee.
Here’s what that means for you:
- A satisfied employee is an engaged employee, who is more productive and therefore performs better.
- If your new employee is client-facing, then guess what? You’ve got yourself a more passionate and enthusiastic salesperson, who is more likely to create meaningful relationships with potential customers.
- The more satisfied your employee, the more likely they are to stick around. Investing in relocating a new talent means they’re more likely to continue investing in you. In fact, they’re 87% less likely to resign than other employees.
You remain competitive
It’ll be some time before all companies adopt employee mobility options, such as relocation, as a hiring strategy, but you can get ahead now. Even in a post-pandemic world, 71% of millennials are looking to work abroad. That’s a lot of potential talent! And if a potential candidate is between a company that can’t relocate them and a company that can – guess which offer they’re more likely to accept.
Relocating talent from wherever they are in the world isn’t necessarily easy. But it’s certainly becoming more and more necessary – especially as an increasing number of companies adopt employee relocation support as a hiring strategy. If you choose to, you’ll inevitably widen your talent pool, increase employee happiness and remain competitive.
If you’re wondering how to get started with employee mobility at your company, get in touch! We are happy to tell you more about our services.
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