Report - Employee relocation beneficial for all parties
Thursday, June 28, 2012
In a recent study by TJinsite, the arm of TimesJobs.com that is responsible for research and knowledge, almost 70 percent of organizations studied maintained that relocation is very beneficial in the talent acquisition and retention area.
Companies with 500 or more employees are more likely than others to see strong evidence of this benefit, as a larger employee base allows for increased “employee maneuverability” and relocation costs are more easily absorbed by the company, according to an Economic Times write-up on the survey.
The survey showed roughly 55 percent of employers stated that skill shortages in particular locations were alleviated by employee relocation, with the top two reasons behind employee relocation being business expansion and lack of talent in a given area. Many companies also view relocation as a means to offer employees an enhanced career development program. Additionally, a recent JobBuzz survey showed a significant portion of employees to be willing to relocate in the interest of career advancement, the Economic Times stated.
Another article published recently in Economic Times offers up tips for negotiating salary when approached to relocate for work. It recommends to counter low salary offers with requests for other benefits directly outside of salary, such as vacation time, flexible work hours, or even professional classes as part of the package. It could be advantageous for an employee weighing relocation prospects to barter for relocation compensation or relocation housing support.