New data from the Worldwide ERC 2011 New Hire Survey suggests that companies are willing to relocate new hires especially if it is for an executive position if the person is a good fit for their organization. The chart below indicates that 93% of companies report that they would relocate New Hire executives within the US.
New Hires are an essential part of a total talent management strategy and often times when the talent needed isn’t available in a certain location companies turn to a Relocation Services company, such as Paragon Relocation, to help their new hire get from point A to point B.
Here are some core elements for a great New Hire relocation policy:
- It should be fair and the benefits should be equal for other New Hires based on salary level to avoid possible discrimination disputes.
- It doesn’t have to be the same policy as existing employees although it can be. (This should be determined by the corporate talent management strategy. How competitive is the search for talent in your industry?).
- As with any relocation policy it should be clear and communicate exactly the benefits that an employee will receive.
- It should detail the process for how the New Hire employee gets relocation expenses paid for. (Are they reimbursed? Direct billed? Are lump sums provided for portions of the relocation?)
- It should detail who is their “go to” contact throughout the relocation process. (Should they contact corporate HR first or their Relocation Consultant first?)
Paragon Relocation has helped many many companies develop their Relocation Policies over the last 20 years. We would be thrilled to help you develop a relocation program based on your needs. Let us know if we can be of assistance!
This was posted by
Mike Morabito – who has written 210 posts on The Paragon Relocation Blog.
Mike has over 10 years of relocation experience working for Paragon Relocation. Mike is recognized by Worldwide ERC as a Certified Relocation Professional (CRP) and a Global Mobility Specialist (GMS).