How do you create a relocation package that attracts top talent?

1 Understand your target talent

Before you design your relocation package, you need to understand the needs, preferences, and expectations of your target talent. Different types of candidates may have different relocation challenges and priorities, such as family, visa, language, culture, or career development. You can conduct surveys, interviews, or focus groups to gather feedback from your current or potential employees who have relocated or are willing to relocate. You can also research the market trends and best practices in your industry and region to benchmark your offer against your competitors.

2 Define your relocation policy

Your relocation policy is the document that outlines the terms and conditions of your relocation package, such as the eligibility criteria, the benefits and services offered, the reimbursement process, the tax implications, and the repayment clauses. Your policy should be clear, consistent, and compliant with the legal and ethical standards of both the origin and destination countries. You should also consider the flexibility and customization of your policy, as some candidates may prefer to choose or negotiate their own benefits according to their personal situation.

3 Choose your relocation benefits

When deciding on relocation benefits for your employees, you should consider your budget, talent strategy, organizational culture, and employee satisfaction. These benefits can be provided in various forms such as a lump sum, core-flex, tiered, or managed. A lump sum is a fixed amount of money for the employee to use as they wish for their relocation costs. Core-flex is a combination of core benefits that are mandatory, and flexible benefits that can be selected from a menu of options. Tiered benefits are based on the level, role, or seniority of the employee, with higher tiers receiving more or better benefits. Managed services involve hiring a third-party relocation provider to handle all aspects of the relocation process.

4 Communicate your relocation offer

Once you have created your relocation package, you need to communicate it effectively to your candidates and employees. You should highlight the value and advantages of your relocation offer, as well as the expectations and responsibilities of the relocating employee. You should also provide clear and timely information and guidance on how to access and use the relocation benefits and services. You should be transparent and honest about the potential challenges and risks of relocating, such as culture shock, cost of living, or career progression. You should also be open and responsive to any questions or concerns that the relocating employee may have.

5 Support your relocating employee

Your relocation package should not end once the employee arrives at their new location. You should continue to support them throughout their adjustment and integration period, as well as their ongoing performance and development. You can do this by offering mentorship programs, coaching services, training opportunities, and networking events. By creating a relocation package that attracts top talent, you can not only enhance your employer brand and increase your talent pool, but also foster a culture of diversity, innovation, and collaboration in your organization. Additionally, it can help you retain your high-performing employees.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?