Relocation is still a pretty big deal when it comes to hiring new employees or keeping productive ones. Today, it is more important than ever to keep in mind that each employee’s needs are different, so relocation packages really do need to be tailor-made. Keep some of these relocation tips in mind when dealing with your staff.
Consider Spousal Income
When you calculate tax-added payments as part of a relocation package, you may want to consider adding spousal income. Many relocation policies simply don’t take this into account and it may be hurting them. Considering spousal income recognizes the contribution that the spouse makes to the family. This makes sense these days as more and more families are dual income.
All too often, companies will assume that women will not relocate unless they make more than their spouse. This is not always the case. In fact, assuming this might be discriminatory and may prevent a business from hiring the best candidate for the job.
Review the Policy
Atypical transferees are the norm, so it is important to review each relocation package individually. Traditional relocation policies may actually be barriers to relocation and hiring. It is important that an employer be sensitive to the diversity of the employees. A tailored relocation package makes this obvious and may translate into a happier staff member that has more loyalty to the company.