The Great Resignation, characterized by unprecedented churn in jobs since the COVID-19 pandemic, has sent shock waves through labor markets around the world. As organizations grapple with evolving workforce dynamics, they should take note of the fact that 51 percent of knowledge workers who quit their jobs in the last two years said a relocation opportunity is a must, noting it’s very or extremely important for new job offers, according to a new survey of 1,500 workers in 11 global markets who resigned from a job in the past two years by Wakefield Research for Graebel Companies Inc. What’s more, 70 percent may have stayed with their previous company if offered a relocation within their home country and 67 percent of respondents said they would have been more likely to stay if they had the opportunity to stay in their current role but relocate to a different country.While there are many talent management strategies — compensation, benefits, performance management, employee development — data shows that relocation opportunities can be a powerful tool for attracting and retaining talent. Although only 18 percent of knowledge workers would be extremely comfortable asking their current employer for the opportunity to relocate, employee interest in corporate relocation is strong, with more than four out of five respondents (81 percent) willing to relocate for work in the next 12 months.
“This survey tells us that the option to relocate for work is reason enough for employees to stay in their current roles,” said Michelle Mara, vice president of account services for Graebel, a leading provider of global talent and workplace mobility solutions for some of the most recognizable brands in the world. “As companies continue to navigate the talent management puzzle, they should take stock of the fact that employees see benefits in relocating — such as developing new career skills, expanding their personal and professional networks and experiencing a different culture or way of life — and must adapt to meet the needs of the changing workforce if they wish to attract and retain talent in this challenging labor market.”To position themselves as good employers, companies must recognize the role of mobility in talent management and strengthen talent mobility programs to create exceptional experiences for employees. The survey findings identified key insights on what employees are looking for in terms of company support during a relocation:
- Business and Personal Support — It Takes Both: Seventy percent of knowledge workers trust their current employer will provide business support (adapting to the new work surroundings) for those who relocate, compared to 65 percent who trust their employer to provide personal support (adapting to new social and cultural surroundings).
- Greater Hurdles by Gender: Although people who identified as women were more open to relocation than those who identified as men (83 percent compared to 79 percent), the first group is less confident they’ll get the personal support they need to be successful. While 71 percent of men identifiers trust their employer to provide personal support during a relocation, only 59 percent of women identifiers feel the same way.
- Must Provide Services: Respondents noted that paying travel and moving costs (54 percent), finding a place to live (47 percent) and arranging language or cultural adaptation classes (45 percent) are the top three benefits employers could offer to make a mobile employee feel valued and safe.
- Moments of Pause: Concerns knowledge workers expressed about relocating were high costs of living (32 percent), language or cultural barriers (30 percent) and lack of accommodation to fit an individual or family’s specific needs or identity (21 percent).“These findings reinforce that there is no one-size-fits-all approach to talent mobility; programs must focus on individuals and their unique needs in order to deliver exceptional experiences for all,” said Mara. “Organizations must incorporate diverse, equitable and inclusive practices into their mobility programs and offer custom mobility solutions.
[To share your insights with us, please write to email@example.com]