Research shows workforce demographics are changing. The pools of possible employees and what they are seeking in the workplace will greatly influence businesses moving forward. As candidates become more diverse and educated, organizations must adapt their practices. Being aware of these shifts helps you attain and retain top talent, which is especially important when investing time and resources such as relocation.
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Women & Diversity

Gender equality in the workplace has gathered much attention over the last few years and companies are making efforts to narrow the gap. While progress is occurring, studies show women continue to be “underrepresented at every level in corporate America, despite earning more college degrees than men for 30 years.”

Diversity in the workplace is vital for companies and hiring women is good for business. For example, a study by the International Finance Corporation shows women in the workplace make for a better work environment because women have a  “greater willingness to communicate and receive feedback.” They also help strengthen team dynamics and improve productivity and innovation.

Overall, employees are impacted in a positive way when a diversity plan is in place. An author who specializes in human resource issues stresses, “Business reputations flourish when companies demonstrate their commitment to diversity through aggressive outreach and recruiting efforts.” Additionally, she states that workplace diversity is important because it greatly impacts a company’s reach to markets in foreign countries. Thus, businesses seeking to bring in and retain top talent should be aware of how important a diverse population impacts business performance and ultimately their bottom line.

Millennials

According to findings by the Pew Research Center, millennials (people born between 1980 and 1997) are the largest living generation (an estimated 79.8 million as of 2016). For years, employers have come to understand that millennials in the workforce are different from their predecessors and so are the things they value. For example, some benefits are more important than a large salary.

This generation craves flexibility. Studies show 22 percent of millennials say they would be willing to work more hours if their options were flexible. Overall, 84 percent of millennials report their companies are making these concessions, including adapting to rapidly changing technology to allow for mobile working.

Millennials have been stereotyped as a job-hopping generation, but trends are changing. After a globally turbulent year socially and politically, younger employees who just last year thought about leaving jobs now appreciate job security. As these hires desire the feeling of being a part of the family when they enter a new job, improved onboarding practices help with engagement and commitment.

Short-Term Assignments

Short-term, temporary assignments have always been part of the U.S. employee experience, but they are now on the rise for international relocations. Surveys indicate the flexibility many employees seek is driving changes in relocation services.

Relocation efforts for millennials are a bit different than in the past. More than a quarter of Baby Boomer employees had stay-at-home spouses. Nearly 80 percent of millennial families are dual-income and spouses work full-time in their own careers. Thus, they want to be sure relocation is the right move for every person in the family.

To keep top talent, this requirement must factor into the equation in addition to long-standing goals companies have always had to be cost effective and make sure the right people are in the right place organizationally. Today, companies need to deliver a positive experience for those who relocate because it brings better employee engagement and productivity.

As research by Gallup News reveals, if millennials are not “engaged in those jobs, companies’ profitability, productivity and innovation will suffer. And if they are not thriving in their well-being, they will struggle in life, affecting how they perform as citizens, consumers and employees.”

As demographics shift and changes become necessary, the challenges of relocating an employee can be extensive. This is why many companies outsource to a relocation management company (RMC). RMCs keep apprised of numerous trends and how they affect the efforts of human resource departments. Additionally, RMC’s help relocate employees, creating the positive experience you desire while optimizing company resources to best align with your business goals.

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