Depending on the niche and geographic location, highly skilled talent can be difficult to find at a local level. One way big companies try to solve this problem is by using freelancers or remote workers, but this is not always the best solution.
Another way to attract top talent is by relocating people who are willing to leave their current company and location. However, it’s important to understand that very few people would be swayed into relocation without a compelling and attractive offer.
While there are a lot of reasons behind someone’s decision to move for a job, you can sweeten the deal with a well-designed relocation package.
What is a Relocation Package?
The relocation package is different from one company to another but it contains support measures for the employee who is relocating. This can include anything from funds for various moving expenses to offering moving services to helping them find a new home and neighborhood.
To make sure everything goes smoothly and the cost stays as low as possible, it may be a good idea to hire an experienced relocation intermediary like ARCrelocation.com. They can offer advice and services that will make the job easier for all the parties involved. In addition, a specialist will already have the logistics and planning, so there’s no need for extra research.
What to Include in the Relocation Package?
If you’re currently looking for ways to save on labor costs, it may be difficult to create packages that attract the best of the best. However, you can still sweeten the deal with things that don’t cost any money. Here are a few examples:
- The cost of living in the area – If your region has a lower cost of living, make sure to include this information (with real stats) in the package. Many people would be interested in such a development.
- A Healthier & Greener Environment – Many towns folks would enjoy living in an area with cleaner air and more green space.
- Easy access to top schools & other education institutions – ideal if the people you target have families with children.
- Your achievements as a startup and plans – Top employees are attracted by a startup that can make a difference. If your company is small but already made a splash in the market, let your best candidates know about this.
- State and county income tax – if your state and county are known for lower taxes, this can become an incentive to add to your list.
While the information above can be used to grease the wheels in your favor, you should also consider including some financial benefits such as:
- Funds to cover the relocation costs that the future employee can use as needed.
- Covering the costs for moving services
- Providing them with free specialized advice in finding a home in the new area
- Support in finding a suitable school or educational facility for the kids
According to a recent Indeed study, many employees in the tech industry are interested in relocation. However, not many companies in the industry offer a relocation package. The same can be applied in other industries, so a special package is a great method to attract talent, who is already considering relocation, on your side.