Articles on how HR can take a more strategic approach towards relocation management.
I know that your busy relocation season is usually over the summer. Your transferees’ kids are out of school, so moving them to a new city is easier without having to pull them from the middle of a school year. But companies change and grow all year long. Business doesn’t stop because of winter weather or holidays – at least not for more than a few days. While your company may not relocate quite as many people over the winter months and the holiday season, that doesn’t mean you don’t have transferees mid-move, looking for a new home in a new city. Luckily, there are several benefits to both relocating and buying a home at the end of the year.
Last week, Paige posted about how the busy relocation season has arrived. She went over the fact that the household goods aspect of your transferees’ moves will definitely pose a challenge this year due to an increase in volume and decrease in actual trucks and drivers. For your employees, the household goods moving process is, without a doubt, the most stressful piece of the relocation puzzle (well, maybe after selling the home). This week, I want to talk about some of the stresses that HR will encounter as the summer season really takes off.
Not long ago, we released a whitepaper titled, “How to Talk to Your CFO about Relocation.” One of the things we stressed in the piece was the important of honesty – especially when it comes to home inventory costs and risks. We also stressed that strategic HR and relocation managers should be ready to talk numbers. It’s easy to shy away from providing cost estimates to your CFO because you either don’t have them or you don’t want to dissuade buy-in due the expense. This tactic, however, is a sure fire way to breed mistrust. Most CFOs do not want surprises.
Last year, we wrote an EBook about Millennials, the traits and trends that make them unique and the impact they are having on the workplace and, consequently, HR. The book was well-received and we were pleased with the discussions that followed, most of which enforced the idea that, in a multi-generational workforce, it’s important to make an effort to understand one another. Strategic HR professionals, especially, should take the time to understand the different segments of their transferee base.
Hello from the 2014 HR Technology Conference in Vegas! I hope you are having a great show.
Yesterday, I had the opportunity to sit in on a discussion about how the digital environment is impacting strategic HR. Check out the video below for my take on how we can use marketing best practices to segment employee populations for more meaningful benefit delivery and career pathing. Agree or disagree? Please share your comments below.
Out of all the executives in the c-suite of an organization, the Chief Financial Officer (CFO) can be the most intimidating. We’ve all been there, right? You are running a program that goes over budget and, all of a sudden, the CFO has taken notice and is knocking on your office door. As your brain starts to work on calculations and an explanation all at once, you may find yourself a bit…panicked.
When you decide to part ways with your former relocation provider, there’s some work to be done. Of course, you have to go through the RFP process to select a new relocation company. But, it doesn’t just end there. There’s always a transition period as you move from one relocation company to the next and, depending on timing, your transferees can get caught up in the mix.
I think it’s safe to say we live in a digital world now. Technology is the backbone for so much of business today that every position in every company is touched, in one way or another, by multiple forms of IT. But, as technology conversations infuse our daily lives, I’ve noticed that the discussions are rarely specific, defined or realistic. What do we really need out of our HR technology?
We’ve talked quite a bit on this blog about payback agreements. Oh, the payback agreement. We both love it and hate it at the same time. Is it a necessary evil? Perhaps. We certainly don’t believe that companies should spend thousands, if not hundreds of thousands, of dollars on a relocation if there is a risk that the transferee will resign before the contracted period is up. Putting aside financial concerns for just a moment, however, I think we need to take a closer look at why payback agreements are so prevalent (94% of companies require them) and if there is a better, more effective way to ensure that talent stays on board after a transfer or assignment.
This article originally appeared in the March Issue of HR.com’s HR Strategy and Planning Essentials ePublication.
According to the 13th annual Private Company Governance Survey, administered by the National Association of Corporate Directors (NACD), 90 percent of respondents, which included 841 private companies in the US, believe that a formal succession planning program enhances the effectiveness of a business. However, fewer than 25 percent of those companies actually have a formal plan in place. Moreover, a quarter of survey respondents admit to having no plan what-so-ever and fifty-two percent claim to have an informal succession plan in place.