The Benefits of Paying for Employee Corporate Relocation Expenses

Finding and hiring the best talent for your company can be challenging. While “remote” work-from-home positions play a larger part of the workforce today, most U.S. employees are still working in a physical office next to their co-workers. Depending on where your company’s office is, your local talent pool may be robust – like in the New York City metropolitan area – or much smaller, requiring you to search for the right candidate from a larger area – possibly nationwide. What are the benefits for paying for your employee’s corporate move?

Hiring the Best of the Best

Why should you worry about relocating employees when telecommuting has become a more normal option in today’s society? Because studies have shown that there are benefits to working in an office environment that produces a positive return on investing in the decision to pay for an employee’s relocation.

When you open your talent pool nationwide, you are opening the possibilities of finding the best candidates for your open positions. When you hire the right person for the job, the “payoff” is a long-term investment that may heavily outweigh the upfront cost of hiring and relocation.

Why Is Hiring the Best Talent Worth the Cost of Relocation?

When you hire someone that is the right “fit” for the job, and for your company, you are hiring someone that is going to thrive as an employee and a person. When you hire the right person to work in your company’s office, you are hiring someone that is going to be more engaged at work with higher productivity. The value of a long-term employee far exceeds short-term expenses.

Whether you are paying for a new employee’s relocation expenses or paying to have a manager relocate to a new office, your company is showing commitment to that person and their family. This commitment is expected to result in increased engagement, productivity, and dedication by the employee.

What Should a Relocation Package Include?

There is no one-size-fits-all employee relocation package. A relocation package can be customized to fit your company’s culture and budget. A more competitive relocation package may help you attract higher quality talent, but is not always the case. Your relocation package may include a good quality state-to-state moving company, such as MiniMoves, and may or may not include packing and unpacking services. It could also include other perks such as a home sale or lease-breaking penalty assistance, a home-hunting trip, temporary housing, transportation or auto-transporting, and other miscellaneous expenses such as utility hookups, licenses, and registrations. The list goes on.

How to Create the Best Corporate Relocation Package

There are some full-service state-to-state moving companies that offer relocation specialists. In 2019 MiniMoves added its first Certified Relocation Professional® to its staff. A Certified Relocation Professional® is recognized for demonstrating comprehensive knowledge of the principles and practices of U.S. employee relocation across all facets of the industry and must pass an annual exam that covers policy development and administration, home sale programs, U.S. tax and legal compliance issues, corporate relocation policies, relocation appraising methods, trends in relocation, and all other related industry segments. A moving company with a CRP® will be the most knowledgeable in the industry.

If you are interested in learning more about corporate employee relocation, MiniMoves is ready to speak with you. Whatever you choose to include in your relocation package, or whether you just want to offer relocation services to your employee, call us today to speak with Jennifer, MiniMoves’s CRP®. We are confident she will help you achieve your company’s relocation goals.

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