Issue link: https://www.e-digitaleditions.com/i/276151
[ 16 ] HRO TODAY MAGAZINE | MARCH 2014 Moving Up These four mobility strategies will lower costs and retain talent to boot. By Debbie Bolla Relocation On average, organizations spend more than $15 million annually to transfer employees, according to Worldwide ERC. That's a substantial line item in the overall budget, but nearly half of global organizations are willing to make it because they view relocation costs as an important investment in their talent: 49 percent of businesses name the need for quality workers as a driver for relocation, according to the Atlas Van's Corporate Relocation Survey. "Relocation is playing a more critical role in the recruiting and talent acquisition process than ever before," says Bryan Schutjer, executive vice president and co-founder of Global Mobility Solutions. Organizations looking to retain key talent or transfer knowledge and skills are leveraging relocation options. Data shows that relocation is steadily increasing. According to Atlas Van's Corporate Relocation Survey, more than one third of firms saw volumes increase, and nearly one third reported budgets increase as well in 2012 (see Figure 1). The housing bubble burst and wary homeowners have reshaped how relocation strategies are executed today. Technology has also helped evolve the market. What hasn't changed: Organizations continue to look to outside expertise for assistance. Worldwide ERC reports 61 percent of organizations fully outsource the mobility function. How can organizations leverage corporate relocation to retain top talent while remaining cost-effective? Some of the industry's top experts shed some light. Smarter Decisions Pre-decision counseling has increased in popularity after the recent economic crisis, says Randy Wilson, CEO of NEI Global Relocation. It empowers candidates to be armed with all the information they need to make a smart decision. Pre-decision counseling provides potential transferees with transparency when it comes to their move by detailing: authorized benefits, potential costs they will incur, and the employment market for partners/spouses. Wilson says organizations should also offer a blueprint of the destination, mapping available housing, pricing, school rankings, and community appeal.