A study revealed that 20.2 million employees left their employment between May and September of 2021, with 73 percent of employers in North America finding it hard to attract employees. While there have been many reasons that have led to this great resignation trend, the duty is now on the organizations and employers to be agile and flexible when it comes to retaining their workforce.
Employers need the best talent. It is also crucial that employees are given the right motivation to meet the high standards of the organization and stay on the job. One way is to build talent management into the company’s hiring system, which should also include talent mobility and relocation management. You may be wondering why these two are important in retaining your workforce and how each of these fits with each. Read further as we unravel the entire picture for you.
What Is Talent Mobility?
If we put it simply, the concept of talent mobility is the migration or moving in-house company talent to another place or job position where the person will be the most effective for the enterprise. The practice of talent mobility is to warrant that the employee gains new skills by moving within the organization. With new roles and responsibilities offered to them, the employee should not feel stagnant and stays with the company. The process aims to develop the talent and put them in the right place of the organization, so the result is developing a successful business.
What Is Relocation Management?
Relocation management is the process of a provider offering expedited relocation logistics for other companies and its employees to both domestic and international places. A relocation management company works with an enterprise or business in relocating the employers’ employees in an effective and cost-efficient manner. A business hires a relocation management company to warrant a hassle-free relocation process for the employees since it is a complex process. It is also time-consuming, personally challenging for the employee, and an expensive process when left to the device of the employee or even the HR of the business.
Well-established relocation management companies will provide software along with mobile and web applications that the employee and employer can access easily to get on board with the relocation process. All the required information for a smooth transition will be available to the employee about the new place and the procedures they must undertake for the relocation.
Relocation management software needs to be in place when talent mobility is part of a company’s process. The software should be robust enough to clearly cover the process for management, HR, and the employee who is being relocated. Additionally, a single platform should be able to handle the vendors engaged, the key compliances, important dates pertaining to relocation to warrant accountability by all the parties involved in the relocation process for a seamless experience.
A relocation management company like WHR has the technology so that the employer, the employee, and HR can access the same platform for signing the necessary documents required for relocation. The automated service of sharing the data and documents with the signees makes the process smoother. It ensures all the documents are in place, and each one has their own copy without the possibility of missing any, which can happen with paper documents.
By integrating relocation management into talent mobility, your company is preparing a better experience for your relocating employees while ensuring you save money in the process. WHR offers a comprehensive relocation management program with years of experience in the field. You can trust that you and your employees are in good hands.