How Relocating Your Young Workforce Can Benefit Your Business
According to a study by a top relocation services provider, over 8 in 10 millennials in the United States are willing to move location for a job. Around the same amount said it was necessary to move to achieve their career goals. On the other hand, millennial workers have become notoriously known for job-hopping more than previous generations. In fact, according to an article by SHRM, 78% of surveyed HR professionals said they were less likely to entice millennials to relocate due to their reputation for switching jobs often.
Millennials are a broad bunch, of course, so some will always be more likely to relocate than others, and those that are happy to relocate are usually those who are dedicated to the companies they work for and are focused on climbing the career ladder. Relocating your young workforce can benefit your business in various ways. Let’s examine the situation more closely.
How Relocating Young Employees Benefits Your Business
Thankfully, relocating employees is easy these days when you use professional corporate relocation services like ARC Relocation. The service can help to reduce the time it takes to organize moves, build better relocation policies, cut costs, increase relocation success rates, and more. But why should you relocate young employees in the first place? Can it really benefit your business? The short answer is yes.
If you want to retain your top talent, you need to help your best employees move forward in their careers. While promotion is always an option, you can also fulfill employees’ desire for change and learning new skills by moving them to other positions in another location. A sideways move can be just as good in contributing towards an employee’s career development. By relocating young workers, you not only help to ensure they stay with your company. You also benefit from getting the top talent in positions where you need them the most.
Ultimately, retaining top talent benefits the employees in that they can develop their careers and it helps your company because having the best workers means being efficient, innovative, productive, profitable, and successful. As your older top talent reaches retirement age, for your company to continue to be successful, it’s vital you fill positions with the best young talent. So, by moving your best and brightest young employees to the right locations and positions, you increase their personal performances and your company’s revenue.
Best Practices for Relocating a Young Workforce
To ensure you retain the top young talent and create a smooth relocation process, it’s essential you understand what young employees want. Things have changed a lot in recent years. For one thing, young workers expect their employers to cooperate with them rather than the employer deciding all of the details. That means listening to your employee’s wants and aspirations when you discuss a potential relocation package. You also need to provide attractive benefits as part of the relocation package if you want to retain and move your best young workers. That means providing things like comprehensive health insurance, memberships to health facilities, and flexible working hours. Young employees are very concerned with health and wellness as well as a healthy work/life balance.
Young workers also place much more emphasis on doing what’s right for their families than previous generations, in terms of considering their partner’s career and other personal family considerations. Relocating needs to be the right thing not just for an employee, but also for his or her entire family. So, most young employees will likely want relocation bonuses and spousal assistance.
