Your company culture likely played a central role in your employees’ choice to apply and onboard, but getting new hires through the door is only the beginning if employee retention is your ultimate goal. At CRI, we believe higher retention rates are often the result of a solid corporate relocation strategy. So, how does it work? By implementing strong relocation benefits, you communicate something crucial about your culture: you put your employees’ well-being first, even going the extra mile to help them and their family members move and adjust once they’re part of your organization.
In this article, we’ll outline all the ways your approach to corporate relocation can strengthen your culture and reduce turnover.
Corporate Relocation is Key to a People-First Culture
No matter how large or small your organization is, respecting and supporting your employees through tough transitions is an excellent way to let current and prospective team members know that you’re invested in their wellbeing and success. That’s what a people-first culture is all about. When you prioritize employee relocation, you’re really prioritizing your organization’s long-term growth, putting both employee retention and your company culture in a position to improve. Here’s how it works:
Support and Appreciation
A little appreciation can go a long way. While employee reward programs and milestone celebrations may seem like a sincere “thank you,” these benefits pale in comparison to a great employee relocation package. Moving nationally or internationally is no small task. New hires will view relocation benefits as a “green flag” as they receive the support and encouragement they need to get a great headstart with your organization and consider their future with you. That’s where employee retention comes in. Meanwhile, current employees will be able to continue working with confidence, assured that they will be well taken care of should they need to relocate or change departments. Plus, you’re well on your way to a more favorable company culture.
Stress-Free Transitions
Moving can be a huge mental, emotional, and financial burden, especially if your new employees are crossing more than just state lines. Stellar employee relocation benefits can set their minds at ease, creating a positive moving experience that will translate to a positive workplace experience. Home sale programs, for instance, can cover out-of-pocket moving expenses, reduce your employees’ tax liability, and handle aspects of the real estate and appraisal process that would otherwise be stressful and time consuming.
Employee retention rates improve because your new hires have already made quite the commitment to your organization, fully relocating to a new state or country because their values align with yours. Company culture strengthens because your employees feel seen, appreciated, and prioritized.
Core Values Take Center Stage
Core values differentiate your brand, guide employee behavior, and ultimately shape how your organization approaches work. In other words, they’re integral to your success and your culture. Unfortunately, it’s easy for core values to fall to the wayside, becoming catchy, well-intentioned lists of traits that employees see in onboarding and office posters but fail to integrate in their roles. Your corporate relocation strategy gives you an opportunity to emphasize your core values throughout the hiring process as you take action to bring them to life.
For example, if “compassion” or “respect” are among your core values, you can extend compassion and respect to your new employees by offering benefits that identify and tackle the most common challenges of relocation. Intercultural training, real estate assistance, and spousal work search support are just a few that come to mind. Embodying your core values will then allow you to embody a caring and considerate company culture. Employee retention will increase, too, as employees come to see that your organization is reliable.
Diversity and Inclusion
Employee relocation programs have the ability to globalize your candidate pool, introducing individuals with a rich variety of cultural backgrounds to your workforce. This helps create an inclusive, and therefore welcoming, workforce environment where a variety of new ideas and methods of communication can flourish and strengthen your teams. Diversity and inclusion are often key components of a positive company culture, and your organization can draw on the strengths of an intercultural team to continue innovating and growing in unique ways. In the long run, employee retention will be easier to achieve as employees look around and see a mixture of faces and experiences and know that they are all valued.
Watch Engagement and Productivity Rates Soar
Engagement is the emotional connection that employees have to your organization and their work. When engagement is high, your employees are more likely to feel enthusiastic about their projects. Truly passionate employees are shining examples of a positive company culture, and their drive to see their teams succeed is something they can inspire others with. This is the ripple effect that can all start with the right relocation benefits. Employees enjoy a smooth, stress-free start, putting them in a great mindset to achieve the unified goals of your organization and the individuals who help it thrive.
Develop the Best Relocation Benefits for Your Business with CRI
If developing or rethinking your own corporate relocation strategy is top of mind, CRI has your back with over three decades of experience helping employees and employers make important moves happen. Our goal is to provide a relocation experience that exceeds your expectations, and we’re ready to start as soon as you are. Contact us today to set up personalized mobility services with expert tracking and reporting solutions.