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4 Relocation Mistakes You're Making with Millennials

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Relocating Millennials isn't easy! Here are 4 common mistakes companies often fall into and how you can avoid them. Want to learn more? Download our eBook here: http://resources.urbanbound.com/mistakes-companies-make-relocating-millennials

Published in: Recruiting & HR
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4 Relocation Mistakes You're Making with Millennials

  1. 4 Relocation Mistakes You’re Making with Millennials
  2. Millennials aren’t always easy.
  3. And neither are their relocations.
  4. Fortunately, all you need to do is offer a unique level of support
  5. And we know that it’s easy to make mistakes
  6. SO, here are 4 common pitfalls companies often fall into
  7. Now you won’t be one of them!
  8. Mistake #1: Assuming Millennials know what to expect
  9. Think back to your college years.
  10. Moving in was a blast! You had your friends, family, and other peers around you as you excitedly unpacked the van and moved into your dorm units together.
  11. Unfortunately, relocations are nothing like that.
  12. Your Millennials are used to social atmospheres, and since the first move after college can be pretty isolating, try to recreate that atmosphere!
  13. “But how!? We aren’t moving in hundreds of people at once”
  14. Even if you’re onboarding a small group, introduce them! Encourage them to talk, share ideas, discuss their first day, plan an outing – anything to encourage involvement with one another.
  15. Don’t forget to have key questions answered beforehand, too!
  16. How should I divide my lump sum?
  17. What practices (dentist, doctor, vet) should I join?
  18. How much will it cost to rent a furnished apartment?
  19. Should I ship my furniture?
  20. Is it worth the money to bring my car?
  21. Can I see my apartment options before I move in?
  22. Mistake #2: Allowing financial monitoring to take a backseat
  23. March 3, 2014 Bank Account Balance: $4,048
  24. March 4, 2014 Bank Account Balance: $18,048
  25. With that new cash flow, relocating employees might be tempted to spend their money on things other than relocation. They will be inclined to take shortcuts and side step necessary processes in order to save money. By co-mingling the lump sum with personal funds, they’ll feel a personal attachment to it, thus less likely to fully commit to spending their lump sum for relocation purposes.
  26. What are your other options?
  27. Give them prepaid debit cards with the lump sum amount already on it! This will help employees keep relocation expenses and personal expenses separate.
  28. Don’t forget to give them guides on how much of their lump sum should be dedicated to certain areas!
  29. Like this:
  30. Mistake #3: Trusting them to respect professional boundaries
  31. It’s no surprise. Millennials are talkative.
  32. That being said, it’s a safe bet that the relocation package one person received is probably going to, at one point or another, circulate around the office.
  33. You have 2 options:
  34. Stress that the relocation information is private, and that their package is completely confidential and not to be shared with peers.
  35. While Millennials love to talk, they do respect information that is specified to be kept private. Just be open and honest with them!
  36. The other option?
  37. Be completely transparent! Provide all the information about how you calculate various packages to all transferees. They will understand that a relocation from Dallas to Austin is going to be more expensive from New York City to Austin, all you need to do is communicate that and help them understand where the numbers come from.
  38. Keep in mind: Provide fair relocation benefits! Of course age and experience factor into the calculation, but remember that people of the same age may be moving to very different parts of the country (or even the world), and need to be compensated properly. Providing enough assistance to cover the necessary expenses will ensure that your Millennial transferee stays happy and successful throughout their relocation.
  39. Mistake #4: Underestimating the value of relocation
  40. Your relocations are valuable!
  41. Unless you make it clear on your website that you will relocate someone if they are the right fit for your open position, they likely won’t apply.
  42. They’ll see that the company is located across the country and immediately rule out the possibility of working there. You could be losing valuable talent!
  43. Don’t be so secretive! Boast about about your program a bit – let people know that you will do whatever it takes to obtain top talent at your company.
  44. Pitch your relocation package during job fairs, on careers pages, and in interviews. The more you present it as a benefit, the more your prospect will see it as a plus side. Relocation programs can set you apart from the rest, especially if moving is the only thing holding the employee back from accepting. Being open with your relocation benefits allows you to attract talent from all over, rather than just in your own backyard.
  45. Want to learn more? Download our eBook below detailing detail each of these mistakes, including 2 bonus mistakes!

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