Relocation as a tool for employee engagement
In a recent survey, Crown World Mobility (CWM) evaluated the incentives of staff relocation for both employee and employer
A tool long used by companies to engage employees, relocation can be incentivised by the opportunity for new experiences, financial reward or, as is often the case, both. In a recent survey, CWM set out to learn more about how staff mobility is currently used as a tool for employee engagement.
The study found 97% of companies involved believe that mobility can be a way of retaining staff with 82% having offered relocation to employees in the past. In addition, almost three-quarters said they had previously approved relocation requests to prevent employees from leaving their company.
On the other hand, hesitancy to relocate when required by a company can have detrimental consequences for employees. Fifty-nine percent of the survey’s respondents find themselves having to either very regularly or somewhat regularly terminate the contracts of those unwilling to relocate. CWM’s human resources expert, Michelle Taylor, said: “Termination may be a final option when a role in one territory is made redundant, but the employee can be moved into a similar role elsewhere.”
CWM observed that relocation is most successful when individuals have several favourable traits in their arsenal. According to the relocation service, being open-minded, culturally sensitive, and showing emotional intelligence make up the core foundation of a positive relocation.
“While candidates will need a necessary level of experience and hard skills, it is also important to pay close attention to soft skills such as attitude, resilience, and adaptability. These are all key elements that will help the individual navigate the challenges of living and working abroad,” said Nick Sutton, CWM’s Global VP Sales and Marketing.
It is important to ensure that relocation is open and accessible by making the global mobility policy flexible and inclusive. “Providing support and entitlement structures for individuals and different family units is a critical component in making relocations accessible to employees who might not fit the ‘traditional’ mould of an assignee,” said Sutton.
Like most business processes involving significant investment, the company will want to understand and measure the return from both the employer’s and the employee’s perspective. This, he said, “can be an invaluable tool to engage key stakeholders and employees, especially as relocation is set to further increase in popularity”.
CWM concludes that while both employees and employers can certainly benefit from relocation, it is not always an incentive to employees, nor is the process straightforward to implement. Nevertheless, when carefully conducted with employee wellbeing at the forefront, relocation might enable a business to retain its top performers, grow overseas, and increase overall productivity.
Relocation continues to be a popular choice, especially for those aged 26–35. Cigna Healthcare recently launched a digital hub for expats including information on healthcare systems, wellbeing tools, and advice on living and working overseas.