Employers Must Offer More Than Compensation To Relocating Workers
Employers in Utah are in a real pinch when it comes to hiring skilled workers. Two factors are conspiring against them: the state’s job growth that continues to be one of the best in the nation and the unemployment rate, which has averaged 2.8 percent for the last six months ending in September. Other drivers such as candidate ghosting (i.e., no-shows to interviews) and hyper-competitive offers among employers all competing for the best talent have further complicated filling open positions for many companies.
Some employers have begun hiring remote workers to fill open roles. However, many companies have open positions that require onsite workers. In these cases, companies are encouraging workers to relocate to the Wasatch Front. This is a common practice when employers must be creative in their hiring strategies. What’s not common are the incentives that relocation packages must include to attract candidates. And some of those incentives involve new, non-financial considerations.
In the past, employers could lure candidates to relocate through a combination of financial incentives that included higher base compensation, sign-on bonuses, housing allowances, compensation for moving services, airfare for candidates and their families to fly to the employer’s location, along with other monetary benefits. These items are still part of a relocation package. However, given the job market, most candidates realize they can be selective and ask for more. So, they are.
Now, job candidates evaluate a lot more than the financial aspects of a job offer. Here are the five things employers must offer to gain an edge during the negotiation process with prospective employees.
Give the Gift of Time
Relocated new hires will need flexibility in their work schedule, especially early on, to manage their move logistics, schedules with significant others and kids as they transition to new schools and social settings, and navigate their new community. Also, consider being open to offering a generous vacation or paid time off (PTO) policy to enable them to periodically return home to visit family and friends.
Describe How You’ll Help
Moving is hard. According to this survey, 23 percent of Americans think that moving is more stressful than planning a wedding, and 27 percent think it’s more stressful than a job interview. Given these feelings, assure candidates that there are internal resources devoted to ensuring a smooth transition, such as helping buy or sell a home.
Provide Learning Opportunities
Educational and professional development opportunities can be a huge asset in helping relocated workers envision how they will advance their careers at a new company. Tuition reimbursement for pursuing some type of post-secondary or skills-related education is a good starting point. Even better are corporate training programs with demonstrable career-progression outcomes. To the extent that employers can provide learning experiences and clear career progression, they should be top highlights in discussions with candidates.
Add Utah to Your Pitch
Utah is an amazing state with many great benefits that companies should market in their candidate outreach. We are home to several national parks, an airport in Salt Lake City that is a convenient travel hub, a wide variety of events, and year-round reactional activities that would interest most outdoor enthusiasts.
Talk about Your Company’s Purpose
When a company’s purpose (i.e., its larger-than-life reason for existing and how it delivers value to consumers) aligns with a candidate’s individual purpose, it can have a profound effect. Help a potential relocating worker visualize how he or she will fit into achieving that purpose and why his or her role is critical to the company’s ongoing work. In addition, communicate how the organization follows through on that promise.
In today’s job market, companies need differentiators that will help their pursuit of relocating workers to fill open positions not suitable for remote workers. One thing is certain: candidates do look beyond the financial compensation to what other benefits a company will offer. Employers increase their odds of attracting strong candidates by going the extra mile with these types of considerations.