How can you use your mobility program to retain high-potential talent?
Mobility programs can play a key role in the war for talent. Director, Client Relations Rachel Ostovich offers some strategies in this Relo Tip Tuesday, which is part two of a two-part series. For part one, click here.
Complete transcript: “Hi, my name is Rachel Ostovich. I’m a client relations manager here at Plus. In my last Relo Tip Tuesday, we discussed how you can use your mobility program as a tool to attract high-potential, or hi-po, employees. In part two, we’ll focus on how to use your program to retain this type of talent. There are three key things you can do:
One, consider aligning your program eligibility requirements with both the employee’s job level and the impact of their role. This may allow you to offer relocation benefits to those employees who may not have qualified before based only on their job level.
Two, take a look at developmental assignments. There are policy options out there that you can use to continue to develop your hi-po employees, such as local-plus or rotational assignments. There are also core-flex policy structures that can be used for various levels of hi-po employees that provide flexibility and also keep a control on costs. Spend some time evaluating these policy options and determine what works best for your program.
And three, stay on top of trends. We are seeing more and more companies introducing employee-initiated relocation policies. Many others are using low cost, self-service or lump sum policy options to encourage employees who qualify to relocate and stay with the company. As your workforce becomes more global and asks for added flexibility, it’s in your best interest to grow alongside them.
Ultimately, your mobility program can be a critical tool in the war for talent. Make sure that your policies and benefits are designed to attract and retain high-potential employees. Thanks for watching!”