In an industry that spans worldwide, what are the benefits of relocating a new employee?
As recruiters working with clients, one of the initial questions that we typically ask is, “Will you consider relocating a new hire?” Often employers will say no; they prefer local candidates. While finding a local candidate might be a plus, the perfect candidate might not be in your backyard. I will often initiate a local search and expand the radius as necessary. However, these restrictions sometimes lengthen the search process, and when you are dealing with trying to find the right person, timing can mean everything.
For employers out there who are gun shy about stepping over into the world of relocation, please understand that there is no standard relocation package. This “benefit” can be tailor-made for each individual and situation.
Obviously, the desire to attract the best candidate might require a hefty package, but this does not always need to be the case. For candidates who do not own homes, a relocation package can simply cover moving costs and possible money towards getting out of a broken rental lease. For home owners, packages can also vary. Some companies cover everything from soup to nuts, including: closing costs, moving expenses, house hunting trips for the family, even relocation of a pet. All necessary expenses are covered. And recently, to expedite start dates, many employers are even housing new employees and families in executive suites until a new residence is secured.
Don’t let these high ticket relocation packages scare you. You may choose to offer a flat fee where your company takes care of moving details up to a certain amount with any extra expenses taken care of by the employee. This flat fee can vary and can be stipulated very early the interview process. By offering this, you can expand your candidate pool at a minimal cost.
The process is quite simple. An initial telephone interview is standard. If all thumbs are up, then a flight and possible hotel stay is arranged for a face-to-face meeting. If an offer is imminent, then the relocation package can be presented.
Your company’s offer should not fall short when you are trying to attain your new star player. Once again, it does not take much creativity to compete with the big guns. However, if you want to be in the game, you have to at least play.