9 benefits of employee relocation
“The grass is greener on the other side” is the main motto of people who move abroad. Indeed, the majority of those who relocate overseas are doing so to seek a higher paying job or career advancement. This was found to be the most common reason for employee relocation by a recent survey, as indicated by approximately 49.3% of respondents.
Not only do employees have advantages when they move overseas, but the companies also find it beneficial. In this article, we will discuss the possible pros of employee relocation for both the company and employees.
Benefits for the company
While it is obvious that relocation will add value to the company in many ways, it is important to speak about it in more detail.
Wider Candidate Pool
The most effective modern companies are those with a talented and diverse workforce. However, not many of them can find needed people with proper experience, skills, and diversity, who bring their unique perspectives from their own cultural, geographic, and personal backgrounds. When you expand your search to a worldwide talent pool, it will help you to improve the quality of the candidates to choose from. At the same time, it will help you boost the overall success of your final decision.
Reduced cost of time to fill for the HR
Relocating internationally attracts top niche candidates. Therefore it allows you to fill the position faster and more efficiently for your HR department.
Added value to the company
Many consider relocation assistance as an employee benefit, so relocation today serves as a candidate attraction tool. It speaks volumes about your company by saying, “We care about your transition and comfort.” This is something to add to your list of employee benefits and is therefore a great promotional feature.
Retention of employees
If an employee goes through the relocation process, there is a significantly higher chance for them to stay with the company. This is due to a sense of commitment that develops after being relocated successfully.
Transfer of knowledge
When an employee goes on an assignment in a new location, they will transfer their unique skills and knowledge to a new location. This is a great way to bring new ideas, knowledge, and perspectives around the world within your company, making it stronger.
Benefits for employee
International experience always has a positive impact on an employee’s life and career. Those who’ve been on international assignments usually are more engaging, better team players, higher performers, and in general are more likely to succeed. Where does it all come from?
Being on international assignment employees meet a wide range of people, both locals and ex-pats. It gives them a chance to experience new cultures, broaden their horizons, and become more sensitive to differences. Having such experience will greatly enrich the employee’s life and attitude.
Building up confidence
Going overseas can be a nervous experience, this is true. But going through it and coming out from the other side gives people a greater sense of confidence in themselves. It also puts the ability to put problems into a wider perspective, making them easier to deal with.
An open and curious mindset
When people go somewhere new their minds can become more inquisitive. This new mindset can be applied for the rest of one’s life. Different cultures’ attitude to work can influence the assignee, and help them realize there is more than one way of doing things. It makes them more flexible and adaptable.
A golden card to the ‘international club’
Today’s big and successful organizations are more global than ever. Experiencing other cultures is essential for senior roles in international companies. Therefore, a global assignment can prove an employee’s multi-cultural credentials and play a huge role in their future career.
A complex task for HR
It is more common now for the HR departments to manage employee relocation programs or to use an HR tech/relocation manager. The decision about international assignment requires a proper strategy. HR professionals have to work with other departments to ensure consistency. These tasks might include the following:
- Creating and managing policies, which may involve working with internal business partners and CO officers
- Identifying the best suitable employees, which may involve working with talent officers
- Selecting and managing a portfolio of vendors and external service providers (housing, car, household good shipping, a school for children, type of visa, flights, etc), which will definitely involve working with procurement or financial officers.
- Identifying and mitigating legal issues (taxes and immigration), which needs the attention of the legal department.
When it comes to sending your best talent abroad, considering the total program strategically, financially, and operationally is crucial. The more mistakes you make the higher probability of assignment failure will be received. This is not what you want either for an assignee or your company.
Clearmove’s unique software allows HR departments to streamline the process of moving assignees around the world. With the help of our HR tech, all needed data can be stored and managed in one application. This makes it way easier for both assignee and the HR professional to deal with employee relocation.
If you want to find out more about our product and how exactly it helps the HR department, press the button below.