Relocation For A Retention Strategy?
You are probably thinking oh that’s old news…but wait, second thought…is it? Certainly this is not a new concept by any
stretch, however, one word….COVID!! This could be simply described as the
biggest game changer….good or bad!! It certainly has brought to light the
endless possibilities of employees working from home as well as the potential of a
greater talent pool to attract the right employees, etc.
The other side of the coin is those current employees that are part of your very important talent pool you want and need to retain. A lot of employees are likely having the “ah ha” moments too. “I want to retire in…Montana, or on a sunny beach, or ski slopes in Vail Colorado…now I can work from anywhere”. As employers and employees seek the expanded employment opportunities, employers will likely require engaging frequently in offering a reduced package of relocation benefits to retain that employee and allow them to work from a location that is more desirable for any number of reasons…closer to family, health benefits, weather, retirement in the near future, affordability, cost of living…just to name a few!
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