Balancing Economic Uncertainty with Strong Relocation Benefits for Employee Retention

The next year will be a complicated one for HR leaders trying to develop benefits strategies. Companies will have to juggle the competing priorities of keeping down costs while remaining competitive with their relocation benefits offerings in a tight labor market.

Layoffs in the tech sector paired with inflation and fears of recession, among other factors, have given employers and employees alike motivation to pull their purse strings a little tighter. In addition, many are still recovering from the Great Resignation and have an increased emphasis on employee retention. Balancing economic uncertainty with strong benefits packages will be vitally important to shore up their workforce.

One way to keep a workforce engaged is to offer relocation benefits that show employees how much the company values them. Here are some ways employers can partner with their international relocation company to take care of workers while navigating current conditions.

Controlling Relocation Costs is a Top Priority

Keeping a lid on rising employee relocation costs will likely remain at the forefront for organizations this year. To remain appealing to current and potential employees, employers still want to ensure moving is a stress-free experience for staff. However, many household goods movers have rigid programs that don’t account for varying company needs.

That’s why finding a corporate relocation company that can develop highly personalized programs that fit your relocation needs and budget is key. Does your current mover have a flexible enough scope of services to accommodate a variety of options, from DIY-type support to full-service packing, moving and concierge amenities? If not, it may be time to shop for a new relocation expert.

Consultative Expertise to Help You Navigate

Other strategies employers are implementing to continue providing positive relocation experiences for their transferees include policy design changes. A corporate relocation specialist can educate you and proactively communicate industry changes, challenges and trends that will affect your policy.

Finding a provider with Worldwide ERC®-accredited designations such as Certified Relocation Professionals (CRP) or Global Mobility Specialists (GMS) can give you the confidence that their expertise and strategic insights will guide you and your employees and help you make smart and competitive policy decisions.

Use a Corporate Mover with a Vetted Partner Network

With so much economic uncertainty, the last thing you want to worry about is your relocation company going out of business or some disreputable provider holding your employees’ belongings hostage for more money.

Finding a well-established company with a global footprint and a network of vetted suppliers has never been more important. Suddath has been a trusted household goods mover for over 100 years, and they ensure their more than 1,000 high-quality partners are fully vetted to give you peace of mind. Additionally, their transportation partners are required to follow the same rigorous quality standards as part of the FIDI and OMNI networks.

To learn how Suddath can help you balance cost control with an excellent employee experience to provide quick, easy and stress-free moves for your workforce, contact us today.